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Final Reminder: Minnesota Housing 2022 Housing Tax Credit Program Round 2 – Due Friday, March 25, 2022

Minnesota Housing is now accepting applications for Round 2 of the 2022 Housing Tax Credit (HTC) Program. It is anticipated that approximately $1.5 million in HTCs will be available, including $375,000 from the Rural Development (RD) set-aside. The RD set-aside is carried forward to Round 2 because there were no eligible projects in Round 1. If there are no eligible RD applications in Round 2, the HTCs will be available to other projects in Round 2.

Low and Moderate Income Rental (LMIR) amortizing first mortgages are also available in Round 2. Refer below for more information. NOTE: Additional deferred loan resources are not anticipated to be available in Round 2.

Application Due Date

• Friday, March 25, 2022 by noon CT: 2022 HTC Round 2 applications are due via the Multifamily Customer Portal.
  • There is no Intent to Apply (ITA) for Round 2
  • Refer to the Application Resources webpage and Multifamily Application Instructions for details on how to apply

Supplemental Priority in Round 2

Supplemental priority in Round 2 will be given to projects that meet both of the following:

1. Have previously received HTCs from Minnesota Housing or a suballocator; and
2. Have an annual HTC shortfall of at least 5%, but not more than 33.33%, of the total qualified annual HTC amount.

If more than one project qualifies under the supplemental priority, Minnesota Housing will evaluate and rank eligible requests according to points claimed in the Self-Scoring Worksheet and utilize the tie breaker process as outlined in Chapter 5.D. of the 2022-2023 Qualified Allocation Plan.

More Information

HTC questions? Visit the Housing Tax Credits webpage or email the Housing Tax Credit team at htc.mhfa@state.mn.us.

LMIR Amortizing First Mortgage questions? Visit the Amortizing Mortgages webpage or contact Caryn Polito at 651.297.3123

www.mnhousing.gov