The Preservation pre-application materials, including Three Year Critical Needs Workbook, Three Year Conversion Model and Preservation Geographic Priorities Area memo, are now available on our website.
Projects applying for 9% tax credits that intend to claim preservation points in the 2017 QAP must participate in a mandatory technical assistance meeting with Minnesota Housing staff and submit a preservation pre-application. For other applicants, technical assistance is strongly recommended.
Following the technical assistance meeting, the preservation pre-application must be submitted in its entirety, along with all required documentation. No subsequent submissions will be considered in determining whether the project meets the preservation criteria. If it is determined that a project does not meet the preservation criteria, submits an incomplete pre-application, or does not complete the pre-application process, it will not be eligible to claim preservation points.
The meeting must take place and pre-application must be submitted by 5:00 p.m. on Monday, May 2.
Section 811 PRA applicants may apply for between 4 and 11 units at each eligible property. There are two ways to apply:
Applications for new or existing properties (that are also applying for capital funding) will be accepted through the 2016 Multifamily Common Application RFP. If you intend to apply, we invite you to submit a pre-application to determine the property’s eligibility for the program. The pre-application is due Monday May 2, 2016 at 4:30 p.m.
Minnesota Housing offers amortizing mortgage loans for multifamily rental housing under both HUD Multifamily Accelerated Processing (MAP) programs Section 221(d) and 223(f), and the Low and Moderate Income Rental (LMIR) program. We provide financing for new construction, substantial rehabilitation, refinance and acquisition of multifamily rental housing through our LMIR program and the HUD MAP lending programs. These financing products are available year-round, outside the annual Consolidated RFP.
As a leading lender in affordable rental housing, Minnesota Housing works with clients to structure financing packages that meet the goals for the property and their portfolio. Review our term sheets below to help you understand the products we offer, and contact Diana Lund to discuss your financing needs.