|
Minnesota Housing’s 2025 Multifamily Consolidated Request for Proposals (RFP)/2026 Housing Tax Credit (HTC) Round 1 application deadline is this Thursday! Read on to receive relevant and timely reminders, helpful resources, and catch up on important information.
In this eNews
In Case You Missed It
FINAL REMINDER: 2025 Multifamily Consolidated RFP/2026 HTC Round 1 Deadline is THIS THURSDAY, JULY 10
The deadline to submit 2025 Multifamily Consolidated RFP/2026 HTC Round 1 applications is Thursday, July 10 by noon Central Time. This deadline includes:
The Multifamily Customer Portal will automatically lock the 2025 Multifamily Consolidated RFP/2026 HTC Round 1 funding round at 12:01 p.m. and no additional submissions will be allowed. See the next section for final tips for on-time submission.
Thank you to our funding partner, the Metropolitan Council, for continuing to support multifamily affordable housing for Minnesotans.
Questions?
For general questions, contact mhfa.consolidated.rfp@state.mn.us.
FINAL TIPS: On-Time Application Submission
-
Review application information, materials, and trainings. These can be found on our Multifamily Consolidated Request for Proposals/Housing Tax Credit Funding Rounds
-
Review Multifamily Customer Portal resources. Visit our Multifamily Customer Portal Resources webpage to learn more about the Multifamily Customer Portal and view trainings to help guide you through the submission process.
-
Update the Project Snapshot and Application fields with the latest information. When applicants create a project in the Portal, some high-level detail about the project, including proposal type(s), number of units, and estimated construction and development costs, is provided. Update these fields under the Details tab to match the current project characteristics.
 |
-
Create Test Scoresheets using the Scoring Wizard. Applicants must submit their Customer Final Version scoresheet in the Scoring Wizard by the application deadline. Applicants may use the Scoring Wizard to create up to four test scoresheets per project to explore different scoring scenarios before finalizing their submission. The Scoring Wizard is the online version of the Self-Scoring Worksheet and is required for all 2025 Multifamily Consolidated RFP/2026 HTC Round 1 applications. When you’re ready, convert your best test version into the Customer Final Version and select “Verify and Submit” to complete your submission.
-
Use the 2025 Multifamily Workbook. 2025 Multifamily Consolidated RFP/2026 HTC Round 1 applicants must use the 2025 Multifamily Workbook. The workbook version date is located on the Instructions tab and is labeled 2025 03 19 Ver 1.0. Download the latest version from the Multifamily Customer Portal.
-
Include the Property Number (D#) and Project Number(s) (M#) on applicable forms. On many Minnesota Housing forms, applicants are asked to provide a D# and an M#. Refer to the Multifamily Request for Proposals Standards for guidance on D# and M# numbers.
-
Upload files as you go. The Multifamily Customer Portal requires applicants to upload files to their corresponding checklist item. Do not wait until the last minute to upload the documents. The Multifamily Customer Portal and Scoring Wizard will not accept submissions after noon Central Time on Thursday, July 10, 2025.
-
Use the Show Items Not Uploaded feature. This feature allows applicants to quickly identify which checklist items still need attention before submission.
-
Select “Submit” when you are finished with your application checklist. Applicants must complete and submit their customized checklist in the Multifamily Customer Portal; upload all required documents or mark optional items as “Opted Out.” Once all items show a valid upload status and no errors remain, select “Submit.” Applicants will be asked to confirm that all materials are signed and to acknowledge the submission. Once submitted, items will be locked, and an email confirmation will be sent automatically.
-
Submit development team qualification forms. All applicants are required to submit the applicable development team qualification forms and supporting documentation. All qualification forms must be submitted to through the Multifamily Secure Upload Tool. For more information, view our May 27 eNews and visit the Development Team Qualification Forms
-
Submit the application fee. All applications must submit the $800 application fee per the Multifamily Fee Remittance Form.
-
Include application signatures. Minnesota Housing will accept electronic signatures on application materials. Refer to the Multifamily Request for Proposals Standards for more information.
- Submit the application early if it is complete!
Questions?
Questions regarding the Multifamily Customer Portal, Scoring Wizard, or Multifamily Secure Upload Tool should be directed to mhfa.app@state.mn.us.
General question should be directed to mhfa.consolidated.rfp@state.mn.us.
FINAL REMINDER: Metropolitan Council’s Local Housing Incentives Account Applications Deadline is THIS THURSDAY, JULY 10
The Metropolitan Council approved a total of $2.5 million for the Local Housing Incentives Account (LHIA). These grant dollars will be available in the multifamily deferred pool of financing in the 2025 Multifamily Consolidated RFP/2026 HTC Round 1. Only projects located in participating cities that have enrolled in the Metropolitan Council’s Livable Communities Act program are eligible for these funds. Visit the Met Council’s Local Housing Incentives Account webpage for more information about the program, including matching requirements, eligible uses and more.
Applications are due by noon Central Time on Thursday, July 10.
What You Need to Know
- LHIA funds may be awarded without Minnesota Housing funding. However, a complete 2025 Multifamily Consolidated RFP/2026 HTC Round 1 application must be submitted to be considered.
- LHIA funds require that the local government entity (city, county, or development authority) in which the project is located serve as the applicant for the LHIA portion of the funding. This is achieved by the local government completing a Receptivity Form on behalf of the sponsor/developer. The local government entity will serve as the grant recipient (Grantee) for the LHIA funds and may re-grant the funds on to the sponsor/developer.
- Grantees must match LHIA awards on a dollar-for-dollar basis with a source of funding that is either directly from, or is designated by, the participating city, county, or development authority; sources may include CDBG, HOME, TIF, Housing Trust Fund dollars, tax abatements, local housing revenue bonds, and the appraised value of donated land.
- LHIA grants support primarily hard costs related to the construction and rehabilitation of affordable housing. Land acquisition costs may be an eligible use of grant funds. LHIA grants do not pay for work done before the grant is awarded with the exception of reimbursement of qualifying land acquisition costs incurred no more than 12 months prior to the date of award.
- Refer to the Met Council’s Local Housing Incentives Account webpage for a full list of eligible and ineligible uses.
How to be Considered
- Create a project within the 2025 Consolidated RFP/2026 HTC Round 1 funding round in the Multifamily Customer Portal; go to the Characteristics tab and select the Met Council’s LHIA Funds characteristic. This will add the General: Met Council LHIA Receptivity Form to your application checklist.
- Reach out to your local government entity (city, county, or development authority) in which the project is located and request that they serve as the applicant for LHIA funds. TIP: It’s best to approach the local government entity early in the process, as some need significant time to go through their approval process.
- Upload the completed Met Council LHIA Receptivity Form to your application checklist prior to your 2025 Multifamily Consolidated RFP/2026 HTC Round 1 application submission.
- The General: Met Council LHIA Receptivity Form is required to be considered. The checklist item must be submitted with your 2025 Multifamily Consolidated RFP/2026 HTC Round 1 application. If the checklist item is not submitted, applicants will not be considered for Met Council’s LHIA deferred funding. If the project is located in the City of Minneapolis, the form will be completed after the application submission and before an award can be made.
Questions?
Visit the Met Council’s Local Housing Incentives Account webpage or contact Emily Seddon, Senior Planner, at emily.seddon@metc.state.mn.us.
Application Fees and In-Person Delivery
The preferred method to receive 2025 Multifamily Consolidated RFP/2026 HTC Round 1 application fees is via USPS mail. The Multifamily Fee Remittance Form includes our mailing address, contact information, and fee amounts. Minnesota Housing will accept mailed checks postmarked by the application deadline of July 10, 2025.
The Multifamily Division will also have staff available to accept checks delivered in-person to our office at the following dates and times:
- Wednesday, July 9 between 9 a.m. and 4 p.m. Central Time
- Thursday, July 10 between 9 a.m. and noon Central Time
To arrange an in-person delivery outside of these dates and times, contact htc.mhfa@state.mn.us.
Withdrawing Your Application
No longer wish to be considered for 2025 Multifamily Consolidated RFP/2026 HTC Round 1 funding? Let us know! If you completed and submitted the Intent to Apply but do not plan to submit an application, select the “Withdraw Project” button located in the upper-right corner of the project page in the Multifamily Customer Portal. Refer to the Withdrawing a Project User Guide for more details. Request to withdraw may also be sent via email to either mhfa.app@state.mn.us or mhfa.consolidated.rfp@state.mn.us.
Questions?
Contact mhfa.consolidated.rfp@state.mn.us.
Board Selection Recommendations for the 2025 Multifamily Consolidated RFP/2026 HTC Round 1
Minnesota Housing anticipates presenting the 2025 Multifamily Consolidated RFP/2026 HTC Round 1 selection recommendations to the board of directors on Thursday, December 18, 2025.
Board reports are available to the public on the Board of Directors webpage.
Funding partners proposal recommendations will be made at their respective board meetings.
In Case You Missed It
Estimated Resources State Legislative Update
Minnesota Housing provided a brief overview of the estimated deferred loan and HTC resources available for the 2025 Multifamily Consolidated RFP/2026 HTC Round 1 in our March 20 eNews. The estimate included the potential resources that were available at the time, but did not include additional appropriations for the Housing Infrastructure Program. The 2025 Minnesota legislative session resulted a two- year housing bill that included a new authorization for $50 million in Housing Infrastructure Bonds. The funding will be made available in the 2025 Consolidated RFP for use in Multifamily, Single Family, and Manufactured Housing.
9% HTC Distribution Update
The Internal Revenue Service (IRS) has provided an update on the HTC formula, resulting in revised 9% HTC amounts for the state of Minnesota. The estimates:
- are based on Minnesota’s current population and the per capita credit volume,
- reflect the current amount of 9% HTCs available for the 2026 program year and
- are subject to change.
Any adjustments to these figures will result in corresponding changes to the total credits available for allocation. The updated 2026 HTC distribution estimates are now available on the Housing Tax Credits webpage.
Questions?
Contact htc.mhfa@state.mn.us.
Shopping for a First Mortgage or Thinking About Refinancing?
Amortizing Loans Rates
Applicants requesting or interested in Minnesota Housing’s Low and Moderate Income Rental (LMIR) first mortgage through the 2025 Multifamily Consolidated RFP/2026 HTC Round 1 are encouraged to use the following rates for initial underwriting purposes.
LMIR Permanent Loans
- 40-year term/amortization – 7.0%
- 35-year term/amortization – 6.875%
- 30-year term/amortization – 6.75%
- Plus 0.125% for HUD Risk-Sharing mortgage insurance premium (MIP)
These rates are only for underwriting/sizing purposes for submissions to the 2025 Multifamily Consolidated RFP/2026 HTC Round 1. Underwriting rates will be revisited during the Multifamily Consolidated RFP review and will vary depending upon loan structure (for example, tax exempt bond funded or not). Rates will continue to float until final Agency approval approximately six months prior to loan closing/commitment.
Bridge Loans Funded with Tax-Exempt Bonds
- 0% interest rate for underwriting purposes
- Term of 24 months assumed
- 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 approximately two weeks prior to loan closing
Bridge Loans Funded with Minnesota Housing Resources
- Bridge loans not funded with tax-exempt bonds are not available at this time.
Questions?
Contact Mike Tobias at michael.tobias@state.mn.us with questions regarding LMIRs.
Contact Susan Thompson at susan.thompson@state.mn.us with questions regarding Bridge Loans.
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 2024, the Agency distributed $1.96 billion in resources and served 73,650 households. Visit our website to learn more.
|
