2024-2025 Housing Tax Credit Qualified Allocation Plan, Self-Scoring Worksheet, and Methodologies: Second Public Comment Period and Public Hearing on Tuesday, October 4, 2022
Thank you to all who submitted public comments to our proposed 2024-2025 Housing Tax Credit (HTC) Qualified Allocation Plan (QAP).
Based on feedback, we expect to release a revised 2024-2025 HTC QAP, Self-Scoring Worksheet, and methodologies for HTC and deferred projects at the end of September. We plan to hold a second round of public comments from Wednesday, September 28, 2022, through 5:00 p.m. CT on Wednesday, October 5, 2022. We invite you to share comments on the revised plan. We will provide more information on how to submit comments at the end of September when we release the revised documents.
Please save the date for our second Public Hearing on Tuesday, October 4 from 10:00 – 11:00 a.m. CT via GoToWebinar. We invite the public and our partners to join us to share comments.
Participants can use their telephone or computer microphone and speakers.
Toll-free Phone Number: 1.877.309.2074
Telephone Audio PIN: Shown after joining the webinar.
Telephone Audio Access Code: 497 378 508
If you plan to speak at the hearing, email htc.mhfa@state.mn.us by 12:00 p.m. (noon) CT on Monday, October 3, 2022.
Presentation and final action on the 2024-2025 QAP, Self-Scoring Worksheet, and methodologies are expected to occur at Minnesota Housing’s board meeting in November 2022.
Thank you for sharing your time and providing feedback on the proposed QAP, Self-Scoring Worksheet, and methodologies.
Questions?
Email HTC staff at htc.mhfa@state.mn.us
2022 Housing Tax Credit Program Carryover Applications Due Tuesday, November 1, 2022
Minnesota Housing is now accepting applications for a Carryover Allocation of the 2022 Housing Tax Credit (HTC) Program. Section 42 of the Internal Revenue Code requires all 9% HTC projects to carryover or be placed in service by the end of the HTC year. A project that received a 2022 reservation of HTCs is eligible to apply for a Carryover Allocation of 2022 HTCs. A Carryover Allocation allocates the HTCs to the project, provided that all requirements of the Carryover Allocation Agreement are met in a timely manner. A Carryover Allocation Agreement allows qualified buildings to be placed in service up to two years after the year in which an allocation is received. The Carryover checklist found in the Multifamily Customer Portal is due on Tuesday, November 1, 2022, by 12:00 p.m. (noon) CT.
A project that has not received a Carryover Allocation or is not placed in service and has been issued its appropriate 8609s before December 31, 2022, will lose its entire allocation of 2022 HTCs. To the extent permissible, late fees will be imposed on Carryover applications submitted after the submission deadline, as outlined in the 2022-2023 Qualified Allocation Plan (QAP).
HTC Notice of Intent Form
If you have not done so, complete and submit the HTC Notice of Intent to Pursue Carryover or 8609 for the 2022 HTC allocation year by Monday, September 12, 2022, at 12:00 p.m. (noon), via the Multifamily Customer Portal. To access this form, go to the Multifamily Customer Portal > Documents > Project Documents: Customers > Carryover Agreement.
Pre-construction Due Diligence
Certain pre-construction due diligence checklist items must be submitted prior to the earlier of the start of construction or Tuesday, November 1, 2022, at 12:00 p.m. (noon) CT. The requirements are outlined in your Reservation Agreement and relate to the design/construction, management, and supportive housing checklist items. Refer to the Pre-Construction Due Diligence checklist items in the Multifamily Customer Portal for additional information.
Contact the assigned Minnesota Housing architect, supportive housing officer, or housing management officer listed in the Portal for additional direction and to establish timelines for required submissions.
For pre-construction due diligence items, please discuss project and submission timing with the assigned Minnesota Housing staff prior to the deadline dates.
Application Instructions
Submit all Carryover applications through the Multifamily Customer Portal. The Portal allows you to submit documents and collaborate with Minnesota Housing staff throughout the application process.
Critical Carryover Application Tips for On-time Submission
Review the following Multifamily Customer Portal submission tips to make sure you meet the Carryover application deadline of Tuesday, November 1, 2022, at 12:00 p.m. (noon) CT.
-
Review Portal Resources: Learn more about the Multifamily Customer Portal, and view training tutorials to help guide you through the submission process.
-
Multiple HTC Awards: If you have received additional HTCs via the 2022 HTC Round 2 funding round, submit your Carryover application via the 2021 RFP/2022 HTC Round 1 funding round in the Portal.
-
Use the 2021 Version of the Multifamily Workbook: Customers submitting a Carryover application for the 2022 HTC allocation year are required to use the 2021 version of the Multifamily Workbook. To avoid errors in the submission process, be sure to download the board select version of the Multifamily Workbook from the Carryover application checklist in Portal.
-
Include the Property Number (D#) and Project Number(s) (M#) on Applicable Forms: On many Minnesota Housing forms, applicants are asked to provide a D# and an M#. A D# is a four-digit number (preceded by a D) assigned by Minnesota Housing that represents the property. An M# represents the funding award. The D# and M# assigned to your project are listed in your selection letter and Reservation Agreement.
-
Upload Files as You Go: The Portal requires applicants to upload a file to the corresponding checklist item. Do not wait until the last minute to upload these documents! It is best to upload files immediately after you complete them.
-
Click "Submit" When You Are Finished: The Portal requires you to upload all checklist items (or indicate “opted out”) before you can submit your Carryover application. You must click the "Submit" button to complete and properly submit your application. If you do not click Submit, we will not receive your application.
-
Do Not Submit Hard Copies: Submit your application via the Portal; no hard copy applications will be accepted. Fees are the only exception to hard copy submittals. Fees must be received by mail or delivered to Minnesota Housing no later than 12:00 p.m. (noon) CT on Tuesday, November 1, 2022, along with a hard copy of the Fee Remittance Form. The Fee Remittance Form can also be downloaded from the Carryover application checklist in Portal.
Mail or drop off fee and Fee Remittance Form to:
Minnesota Housing
ATTN: Tamara Wilson
400 Wabasha Street North, Suite 400
Saint Paul, MN 55102
Mailing the fee and Fee Remittance Form is strongly encouraged. If you need to hand deliver the fee and Fee Remittance Form to Minnesota Housing, please email the HTC team at htc.mhfa@state.mn.us to coordinate.
Questions?
For project specific questions, contact the assigned Minnesota Housing staff listed in the Portal.
For Portal questions, contact mhfa.app@state.mn.us.
For HTC questions, visit Minnesota Housing's HTC webpage or contact the HTC team at htc.mhfa@state.mn.us
|
