By Tuesday, August 22, Minnesota Housing Finance Agency plans to release a draft of their 2018 Affordable Housing Plan.
Phone numbers and website will remain the same.
Minnesota Housing will receive $3,118,428 from the National Housing Trust Fund (NHTF) from the U.S. Department of Housing and Urban Development (HUD) for Federal Fiscal Year 2017.
A brief summary of changes for the 2019 QAP follow. The MHFA summary of changes document provides a more detailed synopsis.
Minnesota Housing Finance Agency is hosting an open-forum discussion regarding potential changes to the 2019 QAP.
Minnesota Housing is currently updating its list of approved appraisers. The Agency periodically contracts with appraisers to value affordable housing developments and land parcels to be used for affordable housing development.
Beginning with the 2017 RFP and 2018 HTC Round 1, developers will be required to apply for funding through an online portal.
Intent to apply documentation is due by February 14.
Minnesota Housing is now accepting applications for Round 2 of the 2017 Housing Tax Credit Program. Given the changing market conditions, Minnesota Housing has extended the application deadline to February 28, 2017. There is approximately $201,000 in tax credits available in Round 2.
The Agency received roughly 60 comment letters, including a letter from NH&RA regarding the proposed changes.
As a result of comments, MHFA plans to engage stakeholders over the next two months to find a solution to the market-driven bond issues in the state.
The minimum score required to receive an allocation of 4% tax credits has been increased to 50 points, along with several other changes.