 IMPORTANT! Updated Forgivable Loan Notes
The Impact Fund 10-year and 20-year Forgivable Loan Notes have been updated to remove previous errors in section references. All administrators providing Impact Fund forgivable loans must use the revised Notes, found under the Deferred Loans section on the Impact Fund Partners webpage.
The Impact Fund (Balloon) Loan Note does not have any changes. Administrators providing 30-year repayable loans can continue to use the Impact Fund (Balloon) Loan Note (rev. 05/22/2024).
Single Family RFP – Form Correction, Document Upload Instructions and Deadline: July 11, 2024 at Noon Central Time
Single Family RFP Deadline: The deadline to apply for the 2024 Single Family RFP is July 11, 2024, at noon Central time. Visit the Impact Fund webpage for details.
Form Correction: The Acquisition/Rehabilitation/Resale Activity Workbook for the Single-Family RFP has been corrected to remove an error message in the “total number of proposed units” line on the Value Gap tabs. All applicants requesting Acquisition/Rehabilitation/Resale Value Gap funds should use the revised workbook dated July 3, 2024.
Application Reminders and Instructions:
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Follow the Application Checklist on page 16 of the Single Family RFP Application Instructions to ensure your application is complete.
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Each application document should be saved separately, and all Activity Workbooks must be saved in their original “.xlsx” Excel workbook format. Please do not save the Activity Workbooks in a “.pdf” format. Other application documents can be saved in their original “.rtf”/ “.doc(x)” Word format, or in a “.pdf” format.
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Supporting documents for each checklist item should be a separate document from other checklist items and can be in “.pdf” format. For example, the project timeline should be its own document. Leverage letters should be their own separate document, but all leverage letters can be combined into the same PDF document.
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Submit your complete application by attaching each separate checklist item at the same time in one upload using the Single Family Secure File Exchange (LeapFILE TM) to impact.fund.mhfa@state.mn.us.
Additional Application Resources:
Reminder: Impact Fund Partner Focus Group
Partners, we want to hear from you! Please join us to learn more about program improvements we’ve made over the past year and to share your thoughts and suggestions on ways we can improve program processes to streamline your implementation of the program.
Tuesday, July 23, 2024
9:30 a.m. to 11 a.m.
Registration is required to attend this event.
eNews Archive
Wondering if you’ve missed an eNews or looking for some information sent previously? Check out our eNews Archive.
Questions?
Contact the Impact Fund team at impact.fund.mhfa@state.mn.us
About Minnesota Housing
Minnesota Housing, the state’s housing finance agency, works to provide access to safe, stable and accessible housing Minnesotans can afford in a community of their choice. In 2023, the Agency distributed $1.85 billion in resources and served 69,500 households. Visit our website to learn more.
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