email : Webview : Minnesota Housing Announces Availability of $70 Million in Funding

Request for Proposals:

Minnesota Housing
announces availability of up to

$70 million in funding

Minnesota Housing and our partners are pleased to announce the availability of an estimated $70 million in funding through our 2014 consolidated Request for Proposals (RFP) and $12.5 million in 2015 Housing Tax Credits (Round 1).

Multifamily funding is available in the form of tax credits and deferred loans on a competitive basis. Thirty-two Section 8 Project-Based Vouchers are also available through the Saint Paul Public Housing Agency.

We also have first mortgage loans available for multifamily projects. Applicants can indicate their interest in these loans either through the RFP or by contacting us separately.
Single Family funding is available in the form of interim loans for construction financing, deferred loans and grants.
Up to $40 million in housing infrastructure bond proceeds (subject to Legislative approval) will be open to both Multifamily and Single Family. We will update the total resources available after the legislative session ends on May 19.

We will select proposals and award the most appropriate funding from available sources. We encourage proposals from communities with the following needs:

Communities that lack affordable rental housing
Communities with significant job growth that may have a shortage of affordable housing
Communities in need of neighborhood stabilization
Communities that want to attract households of all incomes
Communities with needs to preserve older housing stock

Applicants should review and analyze the Community Profiles data, which helps identify communities in Minnesota with a potential need and type of housing investment.

Please visit the Minnesota Housing website for detailed amounts, applications, materials and instructions for the consolidated 2014 Multifamily and Single Family RFP and the annual Housing Tax Credit RFP.

Technical Assistance and Resources

We want to help you submit strong proposals. Please take advantage of the Technical Assistance opportunities below.

For individual Technical Assistance, contact the appropriate Agency staff to request a session.

Single Family Resources

May 8: Single Family live Webinar. Register now.
May 13: Single Family Technical Assistance session at Minnesota Housing. Register now.

Multifamily Resources

April-May: Multifamily Preservation applicants will need assistance from Minnesota Housing staff to complete their proposals, and should request a Technical Assistance meeting as soon as possible. See the Minnesota Housing Preservation page for more information.
Beginning May 8: View pre-recorded Multifamily Training Tutorials. Scroll down to Application Resources and Training and Technical Assistance.

Due Dates and Selections

Applications must be received by Minnesota Housing by the following dates to be eligible for funding consideration:

2014 Multifamily RFP and 2015 Housing Tax Credit Round 1
June 10, 2014 by 5:00 p.m.

2014 Single Family RFP
June 17, 2014 by 12:00 p.m.

All funding awards will be approved by the Minnesota Housing board on October 23, 2014. Funding partner proposal recommendations will be made at their respective board meetings.

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Minnesota Housing

400 Sibley Street, Suite 300 | Saint Paul, MN 55101 US