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This eNews contains important information including final deadline reminders, available trainings and guidance on application materials and sizing of funding requests.
In this eNews
In Case You Missed It (ICYMI)
2024 Multifamily Consolidated RFP/2025 HTC Round 1 Application Dates
The 2024 Multifamily Consolidated RFP/2025 HTC Round 1 important dates are listed below and on the Multifamily Consolidated RFP/HTC Funding Rounds webpage.
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Wednesday, April 10: All 2024 Multifamily Consolidated RFP/2025 HTC Round 1 application materials available on the Multifamily Consolidated RFP/HTC Funding Rounds webpage and in the Multifamily Customer Portal; Intent to Apply and pre-applications for the United States Department of Housing and Urban Development (HUD) Section 811 Project-Based Rental Assistance (PRA) Program and preference for Innovative Construction Techniques (ICT) is available to submit
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Tuesday, May 7 at noon Central Time: Intent to Apply deadline – required for all 2024 Multifamily Consolidated RFP/2025 HTC Round 1 applications
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Friday, May 10: Deadline to contact the Request for Action (RFA) team if a preservation project has existing Minnesota Housing debt that you want counted under Financial Readiness to Proceed/Leveraged Funds and Other Contributions selection criteria in the Self-Scoring Worksheet
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Thursday, May 30 at noon Central Time: Pre-applications for HUD Section 811 PRA Program and ICT selection preference due in the Multifamily Customer Portal
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Thursday, July 11 at noon Central Time: 2024 Multifamily Consolidated RFP/2025 HTC Round 1 applications due in the Multifamily Customer Portal
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December: Selection recommendations presented at Minnesota Housing board members meeting
Stay up to date on 2024 Multifamily Consolidated RFP/2025 HTC Round 1 news and updates by signing up for our eNews list or email mhfa.consolidated.rfp@state.mn.us.
FINAL REMINDER: Intent to Apply Deadline is Tomorrow, May 7, 2024
The Intent to Apply (ITA) is required for all 2024 Multifamily Consolidated RFP/2025 HTC Round 1 applications, and the deadline to submit in the Multifamily Customer Portal is noon Central Time TOMORROW, May 7, 2024. Projects that do not complete the ITA or meet this deadline will not be able to submit a full application. There are no checklist items or costs associated with the ITA. Review the FAQs for guidance on a successful ITA submission.
Frequently Asked Questions for Successful ITA Submission
Where can I learn more about the Portal and the ITA Process?
Tutorials can be found in the How do I use the Portal? section of the Multifamily Customer Portal Resources webpage.
What do I need to do to complete the ITA?
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Create your project before the deadline. Use the Apply for Funding Wizard to create your project in the funding round. Each project created will receive an automated confirmation. You cannot add additional projects or change the location of a project after the ITA deadline.
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Select your project characteristics. All projects must have at least one proposal type and one construction type selected.
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TIP: project details should match your selected characteristics. Review the fields on the project details tab to confirm they align with your project characteristics. Update the proposal types, project type and estimated score as needed. Once the ITA for the project has been created, the project’s primary address, D# and project number in Portal must match the Multifamily Workbook. These items will be validated during the evaluation period.
 Can ITA information be changed later?
Some project information may be updated by the applicant, such as the proposal type(s), project type(s), estimated scores and others. The project address cannot be updated. Should discrepancies exist between Portal information and the application materials submitted or if Minnesota Housing finds the information inaccurate, Minnesota Housing reserves the right to reconcile the data and may notify the applicant of the change(s).
Questions?
For more information about ITA, view the Multifamily RFP Standards and the New to Intent to Apply: Estimated Scores Report section below.
General Multifamily Consolidated RFP questions, contact mhfa.consolidated.rfp@state.mn.us.
Multifamily Customer Portal questions, contact mhfa.app@state.mn.us.
Tips on Determining Project Type(s)
New to ITA this year, applicants will preliminarily identify their project type which will help generate the estimated scores report. Project type(s) help determine funding sources that may be available for the project. Applications will be assigned one or more of the following project types:
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Workforce Housing: have rent or income restricted units. Each resource may have further rent or income restrictions, generally between 30% MTSP and 60% MTSP. Workforce Housing project type generally target a number of different populations.
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Preservation: existing projects in need of rehabilitation. These projects generally meet the requirements of the Preservation Selection criterion per the Self-Scoring Worksheet and meet a risk of loss, have existing project-based rental assistance, or have rent or income restricted units. The Preservation project type may also meet the definition to be a Workforce Housing, Supportive Housing or Senior Housing project type.
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Supportive Housing: 100% of the units support High Priority Homeless (HPH) or other homeless households.
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Senior Housing: all units are intended to be age restricted to ages 55 years and older.
Review the Multifamily RFP Standards for full details or watch the second session of the 2024 Multifamily Consolidated RFP/2025 HTC Round 1 Virtual Kickoff Event for more information.
Questions?
General Multifamily Consolidated RFP questions, contact mhfa.consolidated.rfp@state.mn.us.
FINAL REMINDER: Request for Action (RFA) Submission Deadline is This Friday, May 10
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 THIS FRIDAY, May 10, 2024. If you do not contact the RFA team by this date, Minnesota Housing staff will not have time to process your request, which could impact scoring.
Questions?
Contact rfa.mhfa@state.mn.us.
Don’t Forget to Register: HUD Section 811 PRA Program Technical Assistance Session
You are invited to attend a virtual HUD Section 811 PRA Program Pre-Application technical assistance session on May 23, 2024. All 2024 Multifamily Consolidated RFP/2025 HTC Round 1 applicants interested in submitting a HUD Section 811 PRA Program Pre-Application are encouraged to attend.
HUD Section 811 PRA Program Technical Assistance Session
Thursday, May 23, 2024
11 a.m. – noon Central Time
This session will provide technical assistance to all owners who are interested in and intend to apply for HUD Section 811 Program funds. The session will give owners that are less familiar with the HUD Section 811 PRA Program a chance to better understand the program and if it’s a good fit.
Questions?
Contact Ellie Miller at ellie.miller@state.mn.us.
United States Department of Housing and Urban Development (HUD) Rent and Income Limits
The United States Department of Housing and Urban Development (HUD) published FY2024 Income Limits for the Section 8 Program and the Multifamily Tax Subsidy Projects (MTSP) for Housing Tax Credits and Tax-Exempt Bond financed properties. Minnesota Housing uses the HUD published limits to compute income and rent limits for Multifamily loan programs. Per HUD, these limits have an effective date of April 1, 2024.
Refer to Minnesota Housing’s Multifamily Rent and Income Limits webpage and review our Multifamily Rent and Income Limits eNews, sent on April 30, for additional information.
HOME Investment Partnerships Program and National Housing Trust Fund Rent and Income Limits
HUD released the FY2024 HOME Investment Partnerships Program (HOME) and National Housing Trust Fund (NHTF) rent and income limits on Monday, April 29, 2024. However, owners must continue to use FY2023 HOME and NHTF limits until June 1, 2024, when the new limits become effective. A separate eNews will be sent when these limits are available on our Multifamily Rent and Income Limits webpage.
Questions?
Contact Tere Hopponen at tere.hopponen@state.mn.us or 651.297.5709. Be sure to sign up for our Multifamily Compliance Alerts eNews list to receive timely compliance related updates and reminders.
Development Team Qualification Forms
Each RFP funding round and/or year-round funding application requires the submission of a qualification form from all development team members if any of the following apply:
- Minnesota Housing does not have the required qualification form on file
- The information on a previously submitted qualification form has significantly changed
- The qualification form has been on file with Minnesota Housing longer than 12 months from the date submitted
Submission Instructions and More Information
All qualification forms, including the Qualification of Sponsor and/or Guarantor and Schedules A-E, must be submitted to mhfa.app@state.mn.us via the Multifamily Secure Upload Tool. Applicants for the 2024 Multifamily Consolidated RFP may use the 2023 forms with updated supporting documentation(s).
Questions?
General questions about the forms, contact mhfa.consolidated.rfp@state.mn.us or visit the Development Team Qualification Forms webpage for more information.
Multifamily secure upload questions, contact mhfa.app@state.mn.us.
Building Standards
Building Standards documents were unchanged for 2024! The following Building Standard documents are applicable for both 2023 and 2024:
- 2023- 2024 Rental Housing Design/Construction Standards
- Architect’s Guide
- Contractor’s Guide
- 2023 – 2024 MN Overlay and Guide to Enterprise Green Communities Criteria (MN Overlay)
- Multifamily Intended Methods Worksheet
- Other Forms and Templates
Review our Building Standards eNews, sent on May 3, for additional information, reminders, updates and clarifications.
Amortizing Loans Rates
For the 2024 Multifamily Consolidated RFP/2025 HTC Round 1, applicants requesting or interested in Minnesota Housing’s Low and Moderate Income Rental (LMIR) first mortgage, we encourage using the following rates for initial underwriting purposes.
LMIR Permanent Loans
- 40-year term/amortization – 6.625%
- 35-year term/amortization – 6.50%
- 30-year term/amortization – 6.375%
- Plus 0.125% for HUD Risk-Sharing mortgage insurance premium (MIP)
Rates are subject to change based on actual market conditions. The above rates are only for submissions to the 2024 Multifamily Consolidated RFP/2025 HTC Round 1. If you are interested in current refinancing rates, visit our Amortizing Mortgages and Construction Bridge Loans webpage.
Bridge Loans Funded with Tax-Exempt Bonds
- 0% interest rate for underwriting purposes
- Term of 18 months
- Not insured under HUD Risk-Sharing/no MIP
- Actual rate will float and will be based on the price of the bonds + 1.0%
- Bonds will be sold two weeks prior to loan closing
Bridge Loans Funded with Minnesota Housing Resources
- 0% interest rate for underwriting purposes
- Term of 18 months
- Not insured under HUD Risk-Sharing/no MIP
- Actual rate will float and will be locked for 90 days prior to final Minnesota Housing approval (subject to change)
Questions?
For LMIRs, contact Mike Tobias at michael.tobias@state.mn.us.
For Bridge Loans, contact Susan Thompson at susan.thompson@state.mn.us.
2024 Multifamily Consolidated RFP/2025 HTC Round 1 Self-Scoring Worksheet Training Recording Now Available
Minnesota Housing staff hosted a virtual training session to provide a brief walk-through of the 2024-2025 Self-Scoring Worksheet, with a focus on updates and clarifications to common mistakes and tips and tricks.
The recorded Self-Scoring Worksheet training is now available for review on the Multifamily Consolidated Request for Proposals/Housing Tax Credits Funding Rounds webpage. Scroll down to the Training Resources tab found under the 2024 Multifamily Consolidated RFP and 2025 Housing Tax HTC Round 1 tab.
Questions?
Contact htc.mhfa@state.mn.us.
In Case You Missed It (ICYMI)
New to Intent to Apply: Estimated Scores Report
Minnesota Housing is excited to implement a new tool, the estimated scores report. At ITA, prospective applicants will be required to input data, including the project location, estimated project type and the estimated score from the Self-Scoring Worksheet. Using the prospective applications’ ITA information, the Estimated Scores tab will populate.
The purpose of the estimated scores report is to assist prospective applicants in determining their application’s competitiveness, which may result in applicants restructuring their project’s characteristics and/or altering their application submittal timeline.
The estimated scores report is for information purposes only and are in no way binding or a guarantee of final scores or awards. Estimated scores are created by perspective applicants, not Minnesota Housing. Final scores will be validated by Minnesota Housing during the evaluation process.
Questions?
Learn more in the Multifamily RFP Standards, and watch the second session of the 2024 Multifamily Consolidated RFP/2025 HTC Round 1 Virtual Kickoff Event for more information. Contact mhfa.consolidated.rfp@state.mn.us with any questions.
HUD Section 811 Project-Based Rental Assistance Program Pre-Application Due May 30
The HUD Section 811 PRA Program Pre-Application is now open in the Multifamily Customer Portal. Applicants must submit the HUD Section 811 PRA Pre-Application to determine eligibility for the program prior to submitting a full 2024 Multifamily Consolidated RFP/2025 HTC Round 1 application. Applicants need to apply and be selected for capital funding through the Multifamily Consolidated RFP/HTC Round 1 to be eligible to receive HUD Section 811 PRA funds. Applicants cannot apply for only HUD Section 811 PRA funding in the Multifamily Consolidated RFP/HTC Round 1.
HUD Section 811 PRA pre-applications are due in the Multifamily Customer Portal by Thursday, May 30 at noon Central Time. Applicants will be notified about eligibility for the program on or before Wednesday, June 12, 2024. Awards are contingent on funding availability.
More information can be found on Minnesota Housing’s Multifamily Consolidated Request for Proposals/Housing Tax Credits Funding Rounds webpage and in our March 20 eNews.
Questions?
Contact Ellie Miller at ellie.miller@state.mn.us.
Preference for Innovative Construction Techniques Pre-Application Due May 30
The Preference for Innovative Construction Techniques Pre-Application is now open in the Multifamily Customer Portal. Proposed projects must achieve, or 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%
All six of the conditions a proposed project must meet are outlined in the Innovation Construction Techniques Pre-Application Requirements.
Applicants are required to submit a pre-application to be eligible for this selection preference. ICT pre-applications are due in the Multifamily Customer Portal by noon Central Time on Thursday, May 30, 2024. Applicants will be notified about eligibility for the selection preference on or before Wednesday, June 12, 2024.
More information can be found on Minnesota Housing’s Multifamily Consolidated Request for Proposals/Housing Tax Credits Funding Rounds webpage and in our March 20 eNews.
Questions?
Contact Mike Thomas at mike.thomas@state.mn.us or 651.276.1170.
Metropolitan Council Local Housing Incentives Account Funding Available Through the 2024 Multifamily Consolidated RFP
The Metropolitan Council announced a total of $2.5 million was approved for the Local Housing Incentives Account (LHIA). These dollars will be available in the multifamily deferred pool of financing in the 2024 Multifamily Consolidated RFP. Only projects located in participating cities that have enrolled in the Metropolitan Council’s LHIA program are eligible for these funds.
LHIA may be awarded without Minnesota Housing funding. However, a complete 2024 Multifamily Consolidated RFP/2025 HTC Round 1 application must be submitted in the Multifamily Customer Portal to be considered. Applications are due by noon Central Time on Thursday, July 11, 2024.
More information about the program, including how to apply, matching requirements, eligible uses and more, can be found on Metropolitan Council's Local Housing Incentives Account (LHIA) webpage, on Minnesota Housing’s Multifamily Consolidated Request for Proposals/Housing Tax Credits Funding Rounds webpage and in our April 10 eNews.
Questions?
Contact Ashleigh Johnson, Metropolitan Council’s Senior Planner at ashleigh.johnson@metc.state.mn.us.
For technical assistance from Minnesota Housing, complete the Technical Assistance Request Form.
Saint Paul Public Housing Agency Announces Project-Based Vouchers Available Through the 2024 Multifamily Consolidated RFP
Saint Paul Public Housing Agency (PHA) is offering up to 150 Project Based Vouchers (PBV). Of the total 150 PBVs, 100 PBVs are available under the “mixed-income” criteria and the remaining 50 are specifically for the following special populations and circumstances:
- Homeless families, as defined under the McKinney-Vento Homeless Assistance Act
- Veterans, as defined by Saint Paul PHA
- Units that offer supportive housing to persons with disabilities or elderly persons, as defined by Saint Paul PHA
- Units that are located in a census tract with a poverty rate of 20 percent or less
Applications will be accepted only through the 2024 Saint Paul PHA Voucher Application in the Multifamily Customer Portal, and are due by noon Central Time on Thursday, July 11, 2024.
Additional information, including how to apply, eligible projects, selection criteria and more, can be found on Saint Paul PHA’s PBV Program: Development Applications webpage, in Saint Paul PHA’s PBV Rental Assistance Program Guide, on Minnesota Housing’s Multifamily Consolidated Request for Proposals/Housing Tax Credits Funding Rounds webpage and in our April 10 eNews.
Questions?
Contact Corina Serrano at corina.serrano@stpha.org.
For technical assistance from Minnesota Housing, complete the Technical Assistance Request Form.
For Multifamily Customer Portal questions, email mhfa.app@state.mn.us.
Reminder: Apply for Funding through the Multifamily Customer Portal
All 2024 Multifamily Consolidated RFP/2025 HTC Round 1 applicants must apply for funding through the Multifamily Customer Portal. To learn more about the Multifamily Customer Portal and to request a user account, visit our Multifamily Customer Portal Resources webpage.
2024 Multifamily Consolidated RFP/2025 HTC Round 1
The following is now available in the Multifamily Customer Portal for the 2024 Multifamily Consolidated RFP/2025 HTC Round 1 Application:
- Intent to Apply
- HUD Section 811 PRA Pre-Application checklist
- Innovative Construction Techniques Pre-Application checklist
- Application forms and checklists
- Scoring Wizard
- Funding partner application for Metropolitan Council’s LHIA funds
2024 Saint Paul Public Housing Agency (PHA) Project-Based Vouchers (PBVs)
The funding partner application for Saint Paul PHA PBVs is available through the Multifamily Customer Portal. Additional details on Saint Paul PHA’s PBVs, how to apply and other important information can be found in our April 10 eNews.
Technical Assistance is Available
Minnesota Housing wants to help applicants submit competitive proposals. Technical assistance is strongly encouraged. Check out the technical assistance and training opportunities below:
Application Materials Updates
Last year many of the Multifamily Consolidated RFP/HTC application documents transitioned from annual to biennial forms to align with the two-year Qualified Allocation Plan (QAP) and Self-Scoring Worksheet.
Refer to the instructions on each application form to identify if it is applicable for both the 2023 and 2024 Multifamily Consolidated RFPs/2024 and 2025 HTC funding rounds. For application forms identified as an annual application form, a new application form and supporting document must be completed; outdated forms and/or supporting documents may have a negative impact on the project or considered ineligible for further processing.
Learn more in our March 5 eNews, and watch the second session of the 2024 Multifamily Consolidated RFP/2025 HTC Round 1 Virtual Kickoff Event for more information.
Questions?
Contact mhfa.consolidated.rfp@state.mn.us.
Shopping for a First Mortgage or Thinking About Refinancing?
 Minnesota Housing wants to work with you on 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.
Questions?
Contact Mike Tobias at michael.tobias@state.mn.us to get started.
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