Proposed bill aims to boost workforce housing development in rural Missouri communities
ST. JOSEPH, Mo. (News-Press NOW) -- Missouri lawmakers could take a closer look at new legislation aimed at supporting development of workforce housing in rural communities across the state of Missouri.
A new state-funded grant program to support rural housing development through Missouri's Department of Economic Development is being proposed in a new bill filed this session by Missouri Sen. Jason Bean (R-Holcomb).
If passed, the bill would create the "Rural Workforce Housing Investment Act," a program allowing nonprofit development organizations to apply for grants to establish a workforce housing investment fund for development.
Grants would be awarded on a competitive basis and matching funds would be required to receive funds. The measure was filed in December and recently had a first reading Jan. 7.
The act states no more more than $1 million will be awarded to any one nonprofit development organization over a two-year period, and no more than $2 million to any one nonprofit development organization for the period ending on June 30, 2029.
If a nonprofit development organization fails to engage in qualified activity within two years of receiving initial grant funding, the organization is required to return grant funds to the department.
If a nonprofit development organization fails to allocate any remaining grant funds to qualified activities within two years of the commencement of initial qualified activity, such organization shall return all unallocated grant funds.
