 Creating Home for Minnesotans
Impact Fund grant and loan awards are a vital funding source for new home construction, home rehabilitation and affordability gap subsidy across the state of Minnesota. As the Administrators leveraging those awards to help fill the 45,000-home shortage in our state, you provide an essential service for Minnesotans with low- to moderate income striving to acquire or maintain a home. Thank you for creating home for Minnesotans.
The Impact Fund team is working hard to enhance the program, improve clarity around program expectations, and engage administrators through surveys and conversation throughout the process. We appreciate your insights and thoughtful feedback as we adjust to the evolving grants landscape.
Award Extensions
Impact Fund contracts have been issued for 20- to 42-month contract terms. If or as Administrators need more time to complete their awards, the Impact Fund team evaluates those requests, then supports Administrators that have contracts approved for extension with 6-month extension amendments.
In August we will release an updated Extension Request Form for Administrators’ use. The new form is clearer, accessible, easier to navigate, and has fewer questions to save Administrators time and effort. The new form also captures signer information so that, should the extension be approved, we will have the information needed to proceed.
With the new form, we are also changing the way we evaluate progress. For any homes where work has begun but disbursements have not been made, please be prepared to submit evidence of work being done. This will include such things as pictures, listings of homes for sale, invoices for homes in development, and other similar options.
For homes that have been fully built, rehabilitated and/or sold, please be prepared to submit Requests for Funds forms and Household Demographic Project Information Forms documenting the completion of those homes.
The new form is now live and available for your use.
Technical Assistance is Available
If you have questions about extensions or would like support as you prepare your extension submission, you can schedule technical assistance with Impact Fund team members or email the Impact Fund team at Impact.Fund.MHFA@state.mn.us.
eNews Subscription
Do you have colleagues or employees who should receive future Impact Fund administrator notifications? Please send their names and email addresses to us at Impact.Fund.MHFA@state.mn.us so we can add them to our distribution list.
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 2025, we distributed $1.8 billion in resources and served 73,000 households. Visit our website to learn more.
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