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Mark your calendars because the Multifamily Consolidated Request for Proposals (RFP)/Housing Tax Credits (HTC) funding round is just around the corner! Keep scrolling down for important 2023 Multifamily Consolidated RFP/2024 HTC funding round dates, 2024 HTC distribution estimates, request for action (RFA) deadlines, and more.
In this eNews:
2023 Multifamily Consolidated Request for Proposals/2024 Housing Tax Credits Round 1 Application Dates
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Wednesday, March 29 (new release date): 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 Technical Assistance (TA) Kickoff Event
Don’t forget to save the date! In preparation for the 2023 Multifamily Consolidated RFP/2024 HTC Round 1 funding round, you're invited to a virtual Multifamily Consolidated RFP/HTC Round 1 and Technical Assistance (TA) Kickoff event on April 18 and 19. The first session on Tuesday, April 18, is geared toward those who are new to Minnesota Housing and will give an overview of Minnesota Housing programs and how funds are allocated. The second session on Wednesday, April 19, will focus on new items and updates for the Multifamily Consolidated RFP/HTC funding rounds. Registration information will be provided at a later date.
Questions?
For questions, contact mhfa.consolidated.rfp@state.mn.us.
2024 Housing Tax Credit Distribution Estimates Available
Minnesota Housing has published the 2024 HTC distribution estimates on our Housing Tax Credits webpage.
These estimates reflect the current amounts of tax credits that are available in the 2024 credit program year. These amounts are based upon the population of Minnesota and a per capita credit volume amount. These figures are subject to change. Any changes will cause corresponding modifications to the total credits available for distribution to allocating entities.
Questions?
For questions, contact the HTC Team at mhfa.htc@state.mn.us.
Pre-Applications for the 2023 Multifamily Consolidated RFP/2024 HTC Round 1 Funding Round Available on Wednesday, March 29, 2023 (new release date)!
The 2023 Multifamily Consolidated RFP/2024 HTC Round 1 funding round will have two pre-applications: Housing and Urban Development Section 811 Project-Based Rental Assistance (HUD Section 811 PRA) and Preference for Innovative Construction Techniques (ICT). To be considered for these two criteria and receive points in the 2023 Multifamily Consolidated RFP/2024 HTC Round 1 funding round, pre-applications must be submitted and awarded. Refer below for a summary of each pre-application, schedule and contacts.
HUD Section 811 PRA
HUD Section 811 PRA is a program to expand the supply of supportive housing that promotes and facilitates community integration for people with significant and long-term disabilities. In partnership with the Minnesota Department of Human Services, Minnesota Housing was awarded funding for approximately 160 new units of HUD Section 811 PRA.
HUD Section 811 PRA program funds will be available for units for people with disabilities through the 2023 Multifamily Consolidated RFP/2024 HTC Round 1 funding round. Applicants must submit a HUD Section 811 PRA pre-application to determine eligibility for the program prior to submitting a full Multifamily Consolidated RFP/HTC Round 1 application. Applicants will be notified about eligibility for the program prior to the application due date.
Applicants need to apply and be selected for capital funding through the Multifamily Consolidated RFP/HTC Round 1 to be eligible for HUD Section 811 PRA. Applicant cannot apply for only HUD Section 811 PRA funding in the Multifamily Consolidated RFP/HTC Round 1 or HTC Round 2. Awards are contingent on funding availability.
Preference for Innovative Construction Techniques
Minnesota Housing is offering a selection preference for projects that will use ICT. To be eligible for this selection preference, a pre-application is required for projects that will achieve or will pilot a technique to achieve one or both of the following goals:
- Reduce total construction cost by at least 10%, and/or
- Reduce the time a project is under construction by at least 20%
Refer to the 2024-2025 Self-Scoring Worksheet for additional details on how the preference will be used to evaluate different project proposal types that apply in the 2023 Multifamily Consolidated RFP/2024 HTC Round 1 funding round, and in accordance with the 2024-2025 Qualified Allocation Plan and the 2023 Multifamily Request for Proposals Standards. For more information, visit the Housing Tax Credits webpage.
Schedule
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Wednesday, March 29 (new release date): Pre-application materials released
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Thursday, April 27 at noon Central Time: Pre-applications due in the Multifamily Customer Portal
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Wednesday, May 10: Minnesota Housing will review pre-applications and inform applicants whether their project may be awarded HUD Section 811 PRA units and/or ICT.
Questions?
For questions about HUD Section 811 PRA, contact Ellie Miller at ellie.miller@state.mn.us or 651.215.6236; for information about the program, visit Minnesota Housing’s HUD Section 811 webpage.
For questions about ICT, contact Mike Thomas, Staff Architect, at mike.thomas@state.mn.us or 651.276.1170.
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).
Get a Head-Start, Oldies but Goodies Trainings!
Minnesota Housing will be releasing a series of trainings in April 2023 to help applicants submit a successful application through our Multifamily Customer Portal. In the meantime, get a head start and review previous trainings for the Scoring Wizard, the Self-Scoring Worksheet, How Awards are Sized, Rent and Income Restrictions and more.
Questions?
For additional information, visit our Application Resources webpage.
Projects with Existing Minnesota Housing Debt
If a preservation project has existing Minnesota Housing debt that you want counted under Financial Readiness to Proceed/Leveraged Funds in the Self-Scoring Worksheet, contact the Request for Action (RFA) team no later than Wednesday, May 10, 2023. If you don’t contact the RFA team by this date, Minnesota Housing staff may not have time to process your request, which could impact scoring.
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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