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Community Development eNews
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September 3, 2024
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 In this eNews:
- Impact Fund Procedural Manual Update
- Reminders! Reporting and Requesting Funds
Impact Fund Procedural Manual Update
We have updated the Procedural Manual! An updated version with redlines showing the substantive changes can be found under the “Manual” section of the Impact Fund partner webpage. The updated Procedural Manual is effective for all projects closed on or after September 1, 2024.
The main changes include:
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Schools. The addition of schools as eligible recipients and direct costs for schools as an allowed use (primarily referenced in section 5.07).
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Administration Fee. Administration fees increase from $500 to $1,000 for projects awarded through the 2023 Single Family RFP and projects awarded in the future. It also includes clarification regarding projects with administration fees and developer fees.
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Forgivable Loans. Addition of the forgivable loan option for affordability gap and owner-occupied rehabilitation projects.
Reminders!
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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In connection with Single Family Division loan programs, Minnesota Housing is neither an originator of loans nor a creditor and is not affiliated with any Lender. To find out if you are eligible, or to apply for a loan, please contact a participating Lender.
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