Minnesota Housing released proposed changes resulting from prior public comments on the draft 2024-2025 QAP, as well as an amendment to the 2022-2023 QAP. Both QAPs include a new reallocation policy in Chapter 2.V. The purpose of the reallocation policy is to allow the return and reallocation of nine percent credits for projects that are unable to place in service by the required deadline. Projects will be required to meet certain criteria. The 2024 QAP also includes a proposed rent increase limit policy to limit the size of annual rent increases to mitigate the impact to cost-burdened households and to help prevent economic displacement.
Comments should be sent to htc.mhfa@state.mn.us by 5 p.m. CT on October 5.
