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See below for reminders about the 2023 HTC Round 2 application deadlines, the 2023 Multifamily Consolidated Request for Proposals/2024 Housing Tax Credits Round 1 important dates, and general Multifamily updates.
In this eNews:
Governor Walz Approves Minnesota Housing’s 2024-2025 Qualified Allocation Plan
The Qualified Allocation Plan (QAP) determines the policy priorities and the process by which the Minnesota Housing Finance Agency (Minnesota Housing) will manage the federal Low-Income Housing Tax Credit program. This QAP sets the overall funding selection priorities for the competitive 2023 and 2024 Multifamily Consolidated Request for Proposals (RFP) / 2024 and 2025 Housing Tax Credits (HTC) funding rounds, which also include deferred loans funded from state and federal funding resources.
The QAP has been updated to include some important changes:
- Simplified the application materials for projects that propose to include supportive housing for people experiencing homelessness and people with disabilities
- Incentivized meaningful engagement in the development process from communities most impacted by housing disparities and instability
- Enhanced scoring opportunities for projects that prioritize leadership and participation in the development process by Black-, Indigenous-, People of Color-, and Women-owned/led businesses
- Created a new incentive for projects that combine energy efficiency and renewable energy to reduce emissions
- Increased the number of housing tax credits available for smaller-scale projects in rural and Tribal areas
The 2024-2025 QAP, Self-Scoring Worksheet, and Methodology Guide can be found on the Housing Tax Credits webpage.
Contact the Housing Tax Credit team at htc.mhfa@state.mn.us for more information.
FINAL REMINDER: New and Renewed Applications for Placement on the Market Analyst List Due Friday, February 3, 2023
Minnesota Housing’s application window for analysts who wish to be added to the Market Analyst List closes at noon tomorrow, February 3, 2023. If your organization is currently on the Market Analyst List, refer to the renewal date on the list. Current authorized market analysts must renew their application every three years.
Market analysts not already authorized, or whose authorization expires Wednesday, March 1, 2023, must apply to Minnesota Housing by tomorrow to be considered for authorization to submit a market study in the 2023 Multifamily Consolidated RFP/2024 HTC Round 1. Application materials and more information can be found at the following links:
The Internal Revenue Code Section 42(m)(1)(A)(iii) requires 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 can submit market studies for the 2023 Multifamily Consolidated RFP/2024 HTC Round 1, HTC Round 2, and 4% Only funding rounds.
Questions?
Refer to the Additional HTC Application Reference Materials section on the Housing Tax Credits webpage, or email the Housing Tax Credit team at htc.mhfa@state.mn.us.
REMINDER: HUD Section 811 PRA Pre-Application Due Friday, February 10, 2023 and 2023 Housing Tax Credit Program Round 2 Due Friday, February 24, 2023
Minnesota Housing is accepting applications for Round 2 of the 2023 Housing Tax Credit (HTC) Program. Currently, there is approximately $100,000 in HTCs available. The Housing Tax Credits webpage will be updated if additional HTCs become available.
Status of Other Funding During HTC Round 2
Available:
Not Available:
- Additional deferred loan resources.
Important Dates
Intent to Apply (ITA) submissions are not applicable to HTC Round 2.
Supplemental Priority in HTC Round 2
Chapter 2.E of the 2022 -2023 Qualified Allocation Plan states, projects that have previously received HTCs from Minnesota Housing or a suballocator and have an annual HTC shortfall of at least 5%—but not more than 33.33% of the total qualified annual HTC amount, and subject to Minnesota Housing approval—will have priority over other applicants in HTC Round 2 and those on the waiting list. 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.
Questions?
Refer to the Application Resources webpage and Multifamily Application Instructions for details on how to apply.
HTC questions? Visit the Housing Tax Credits webpage or email the Housing Tax Credit team at htc.mhfa@state.mn.us.
Questions regarding the Pre-Application for HUD Section 811 PRA? Contact Ellie Miller at ellie.miller@state.mn.us or 651.215.6236.
2023 Multifamily Consolidated Request for Proposals/2024 Housing Tax Credits Round 1 Application Dates
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Wednesday, March 22: Early application materials release and pre-application release for the U.S. Department of Housing and Urban Development Section 811 Project-based Rent Assistance (HUD Section 811 PRA) Program and Innovative Construction Techniques
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Wednesday, April 12: 2023 Multifamily Consolidated RFP/2024 HTC Round 1 published and Intent to Apply and application materials available in the Multifamily Customer Portal
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Thursday, April 27: Pre-applications due for HUD Section 811 PRA and Innovative Construction Techniques
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Wednesday, May 10: Applicants will be notified of HUD Section 811 PRA and Innovative Construction Techniques eligibility
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Thursday, May 11 at noon Central Time: Intent to Apply deadline – required for all 2023 Multifamily Consolidated RFP/2024 HTC Round 1 applications
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Thursday, July 13 at noon Central Time: 2023 Multifamily Consolidated RFP/2024 HTC Round 1 application deadline
NOTE: The application fee is also due by this date.
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December: Minnesota Housing board members meeting
The 2023 Multifamily Consolidated RFP / 2024 HTC Round 1 dates are tentative and may change. Stay up to date on 2023 Multifamily Consolidated RFP/2024 HTC Round 1 news and updates by signing up for our eNews list or email mhfa.consolidated.rfp@state.mn.us.
Save the Date: 2023 Multifamily Consolidated RFP/2024 HTC Round 1 Kickoff Event
In preparation for the 2023 Multifamily Consolidated RFP/2024 HTC Round 1, Minnesota Housing will host a virtual RFP/HTC and Technical Assistance Kickoff event on Tuesday, April 18 and Wednesday, April 19. Whether you are new to the Consolidated RFP/HTC or have applied previously, the kickoff event will be informative. Registration information will be provided at a later date.
Technical Assistance is Available
Minnesota Housing wants to help applicants submit strong proposals. Technical assistance is strongly encouraged. Check out the technical assistance and training opportunities below.
View training tutorials on our Application Resources webpage (scroll down to the training section).
2022 Multifamily Consolidated RFP/2023 HTC Round 1 Scores Now Available
The selection recommendations for the 2022 Multifamily Consolidated RFP / 2023 HTC Round 1 received board approval in December 2022. The selection framework and scores are now available for all completed applications submitted in the 2022 Consolidated RFP. For more information, visit Multifamily Consolidated RFP and HTC Funding Selections.
Questions?
Questions regarding the general Multifamily Consolidated RFP? Email mhfa.consolidated.rfp@state.mn.us.
Shopping for a First Mortgage or Thinking about Refinancing?
 Minnesota Housing wants to work with you for all your multifamily first mortgage needs! Our Low and Moderate Income Rental (LMIR) first mortgages have terms up to 40 years for new construction or 35 years for rehabilitation or refinance. Our first mortgages are available year-round.
View our current interest rates and terms to learn more about what we offer.
Contact Mike Tobias, First Mortgage Program Manager, at michael.tobias@state.mn.us to get started.
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