[ The latest news for Minnesota Housing Impact Fund partners ]
More Than $14.5 Million Awarded Through 2017 Single Family RFP
On October 19, 2017, Minnesota Housing and our funding partners announced an investment of more than $126 million for developments that will create and preserve 1,823 units of affordable housing statewide. This includes more than $14.5 million in Impact Fund resources.
RFP Next Steps
If your organization was selected for funding through the Impact Fund, you should have recently received a letter of congratulations signed by Commissioner Mary Tingerthal. As stated on this letter, if your award includes funding for new construction or acquisition-rehabilitation-resale, you will need to supply Green Communities Criteria documentation by December 8. 
In the coming weeks, Impact Fund team staff will be contacting non-funded applicants and many selected applicants to schedule debrief and kickoff meetings.
All funded applicants should expect to receive funding agreements by mid-January. The funding agreements will likely be in a substantially different format this year. These agreements will incorporate certain provisions common across all or most state-appropriated grants as required by the state Department of Administration’s Office of Grants Management.
If you have any questions about your 2017 award or funding agreements, please contact Nancy Slattsveen at 651.296.7994, or email the Impact Fund team at impact.fund.mhfa@state.mn.us.
Form and Document Updates
2017 Minnesota Overlay and Guide to the 2015 Enterprise Green Communities Criteria
The 2017 Minnesota Overlay and Guide to the 2015 Enterprise Green Communities Criteria, dated April 2017, is posted. Two Chapters are new: Chapter 9 - Contract Compliance and Equal Opportunity, and Chapter 10 – Fair Housing Policy. There are no changes to physical rehabilitation or construction standards from the 2016 Minnesota Overlay and Guide to the 2015 Enterprise Green Communities Criteria.
The Single Family Intended Methods Worksheet dated 09/01/2017 and referencing the “2016 MN Overlay to the 2015 Enterprise Green Communities Criteria” will be honored for Impact Fund awards made in 2017.
Updated Impact Fund Mortgage and Impact Fund Mortgage Note
The current versions of the Impact Fund Mortgage and Impact Fund Mortgage Note are dated 09/26/2017. Administrators closing and assigning deferred loans to Minnesota Housing using Impact Fund dollars and not already using these forms are to begin using these forms as soon as loan disclosure requirements allow. Minnesota Housing expects these forms to be in use for all closings of Impact Fund deferred loans assigned to Minnesota Housing by December 1, 2017
Updated Deferred Loan Closing Instructions and Transmittal Form
Reference to the Household Demographic Project Information form has been removed. Although you must ultimately still submit a Household Demographic Project Information form for each completed project, this form does not need to be submitted according to the same timeline as Deferred Loan documents.
The Deferred Loan Closing Instructions and Transmittal Form addresses only those transactions where the Deferred Loan is secured by real estate. If your organization has been awarded Deferred Loan funds and you are working with households in homes that are not real property and are not located on real property owned or to be owned by the household, such as manufactured homes in manufactured home parks, you are advised to contact the Impact Fund team for assistance.
Updated Annual Report – Close Out Form
The Annual Report – Close Out Form has been updated as of 09/01/2017. Please note the guidance on that form pertaining to award completion and project completion.
Other Document Updates
In connection with our office move and rebranding, Minnesota Housing revised and reposted a number of documents to our website, including Impact Fund documents to the Impact Fund webpage. Most of these revisions, besides those more substantial revisions addressed previously in this eNews, are to reflect Minnesota Housing’s new address and logo. 
As a best practice, please always use the most recent version of Impact Fund documents posted to the Impact Fund webpage. Avoid using versions of forms you have downloaded and saved.
June 7, 2016 Procedural Manual Still in Effect
The Community Homeownership Impact Fund Program Procedural Manual dated June 7, 2016 is still in effect and will be in effect until further notice. While the manual has been rebranded, there have been no material changes. 
2017 Income Limits Still in Effect
The Impact Fund Income Limits effective May 17, 2017 are still in effect. In connection with our revision and reposting of rebranded documents, the 2016 Impact Fund Income Limits were accidentally posted in September. The Income Limits effective May 17, 2017 will be honored for all closings which occurred since May 17, 2017 and will be in effect until further notice. (Some funding agreements permit use of HUD income limits adjusted for household size; in those cases, the HUD income limits will be honored.) 
eNews Archive
Wondering if you’ve missed an eNews, or looking for some information sent months or years ago? Check out our eNews Archive. This link can be accessed from among the “Quick Links” visible in any “Lenders and Homeownership Partners” section of our website.
Questions?
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