The Minnesota Department of Commerce will host a multifamily guidance review virtual meeting at 1 p.m. ET on August 31. Register here. This meeting is a follow-up from the July 29 meeting, a recording of which is available here. This second meeting will be a continuation of the process to review and update the Department’s guidelines for determining whether a multifamily building is eligible for low-income utility incentive programs. Affordable housing developments that are eligible for these low-income utility programs can often receive deeper levels of incentives than traditional market-rate buildings.
The Department of Commerce stakeholder process will review and update this guidance, including income eligibility, unit thresholds and documentation. Currently a building is eligible if 66 percent of the units are rented to individuals who are at 60 percent area median income or below. Buildings can currently prove eligibility by being on the Low-Income Rental Classification list or by submitting documentation proving the use restriction.