Minnesota recently released the RFPs including the application, materials, and instructions for the consolidated 2013 Multifamily and the 2014 Housing Tax Credit allocation rounds. Minnesota Housing will publish the final funding sources and amounts being made available under the RFP upon the conclusion of the 2013 Legislative session, which is May 20, 2013 but the following funding sources are anticipated to be available:
|
Federal Low-Income Housing Tax Credits from the competitive state allocation pool (HTC) (2014 Round 1) |
$12 million |
|
Low and Moderate Income Rental Program (LMIR) through tax-exempt and other non-federal Agency resources for first mortgage financing and bridge loans (when required for eligibility for 4% tax credits) |
Amount based on applications |
|
Flexible Financing for Capital Costs (FFCC) (only available in conjunction with LMIR first mortgage financing) |
Up to $1 million |
|
HOME Affordable Rental Preservation (HOME HARP) |
Up to $3.5 million |
Applicants are now able to view pre-recorded training tutorials beginning May 9 on the Multifamily Training Tutorials website. The 2013 Multifamily RFP and 2014 Housing Tax Credit Round 1 applications are due June 18, 2013 at 5:00pm and recommendations for funding will be made at the Minnesota Housing special board meeting on November 7. Questions about both funding rounds should be submitted to Diana Lund at Diana.Lund@state.mn.us or 651.296.7991 or Joel Salzer at Joel.Salzer@state.mn.us or 651.296.9828.
Click here to view the 2013 Multifamily Programs RFP.
Click here to view the 2014 Housing Tax Credit RFP.
