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Please see below for the latest round-up of Multifamily updates and reminders.
In this eNews:
REMINDER: Qualified Allocation Plan and Funding Priorities Information Session
Market Analyst List: New Applications and Renewals Due February 1, 2021
Audit Deadlines for HUD Risk-share and Other Minnesota Housing Loan Programs
REMINDER: Workforce Housing Development Program Application Deadline and
Updated Frequently Asked Questions (FAQs)
REMINDER: Register for the Qualified Allocation Plan and Funding Priorities Information Session on Wednesday, December 15
In Minnesota Housing’s November 16, 2021 eNews, we shared our anticipated development timeline and engagement opportunities for the 2024-2025 Qualified Allocation Plan (QAP) and 2023-2024 Consolidated Request for Proposals (RFP) funding priorities. Please join us on Wednesday, December 15, 10:30 a.m. to 12:00 p.m. to learn more and share your feedback.
This information session is open to all partners, cities and industry professionals throughout Minnesota. We will share our policy ideas for the next QAP and attendees will have an opportunity to ask questions and provide feedback to Minnesota Housing staff.
Can’t attend the session? We still want to hear from you. Please refer to the November 16 eNews to see our policy areas of interest and email your comments to the Housing Tax Credit team at htc.mhfa@state.mn.us by Friday, December 31, 2021.
The December forums with Greater Minnesota Housing Fund (GMHF) have been rescheduled to later dates. We will send an eNews with updated information in the coming weeks.
Market Analyst List: New Applications and Renewals Due February 1, 2021
The Internal Revenue Code Section 42(m)(1)(A)(iii) requires Housing Tax Credit (HTC) projects to select an authorized market analyst to complete a market study when submitting an HTC project proposal for funding. Market analysts must be authorized by Minnesota Housing before developers submit market studies for the 2022 Multifamily Consolidated RFP/2023 HTC Round 1. Analysts not already authorized, or whose authorization expires March 1, 2022, must apply to Minnesota Housing by 12:00 p.m. CT on February 1, 2022 to be considered for authorization to submit a market study in the Multifamily Consolidated 2022 RFP/2023 HTC Round 1.
Minnesota Housing is now accepting new applications and renewals from analysts who wish to be added to the Market Analyst List. Current authorized analysts must renew their application every three years. If your organization is currently on the Market Analyst List, refer to the renewal date on the list. Renewal requests must be submitted by February 1 to allow time to review before the renewal deadline of March 1. Please refer to the materials below to apply:
For more information, visit the Housing Tax Credits webpage, under the “Additional HTC Application Reference Materials” section or email the Housing Tax Credit team at htc.mhfa@state.mn.us.
Audit Deadlines for HUD Risk-share and Other Minnesota Housing Loan Programs
Deadlines for submitting audited financial statements to Minnesota Housing are coming up so here are a few helpful reminders:
- Audited financial statements for developments with HUD Risk-share loans are due within 60 days of the development’s fiscal year end.
- Audited financial statements for all other loan programs are due within 90 days from the end of the development’s fiscal year.
- For developments with a calendar fiscal year, the audit, complete with a signed Mortgagor’s Certification, must be uploaded through Box.com by March 1, 2022.
- Audited financial statements for other loan programs are due within 90 days from the end of the development’s fiscal year.
For more information and audit submission instructions, please review the Minnesota Housing Audit Guide and the Appendix to the Audit Guide.
Questions? Contact your assigned Asset Manager.
REMINDER: Workforce Housing Development Program Application Deadline and Updated Frequently Asked Questions (FAQs)
This competitive funding program targets small to medium-sized cities, communities or areas in Greater Minnesota with rental workforce housing needs. Anticipated funding of approximately $4 million will be available to build market rate residential rental properties in communities with proven job growth and demand for workforce rental housing. Communities are required to secure funds that match one dollar for every two dollars in funding offered through the program.
Applications are due by 12:00 p.m. CT on Tuesday, January 11, 2022. Visit Minnesota Housing’s website for application materials and to learn more about the program.
The FAQs have been changed to show the updated selection criteria on page 9 and can be found on Minnesota Housing's Workforce Housing Development Program's webpage.
Questions? Contact Sara Bunn at sara.bunn@state.mn.us or 651.296.9827.
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