Housing Tax Credits

The Low-Income Housing Tax Credit (HTC) Program is a financing program for qualified residential rental properties. The HTC program offers investors a 10-year reduction in tax liability in exchange for capital to build eligible affordable rental housing units in new construction, rehabilitation, or acquisition with rehabilitation.

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Market Analysts

Minnesota Housing is requesting applications from market analysts to be included in a list of authorized contractors. Analysts will conduct third party comprehensive market studies for developments applying for Low Income Housing Tax Credits (tax credits) pursuant to Section 42(m) of the Internal Revenue code.
 
A description of services required to be performed can be found in the Market Study Guidelines. See the Request for Market Analysts for additional application requirements. Applications are due February 22, 2019 no later than 5:00 p.m.
 
Application packages should be submitted to:
Minnesota Housing Finance Agency
Attn: Tamara Wilson - Housing Tax Credit Program
400 Wabasha Street North, Suite 400
St. Paul, MN  55102

Apply for Housing Tax Credits

Housing Tax Credits (9%) are allocated twice per year - the Consolidated RFP with much of our other funding, and during a Round 2 RFP that is also competitive. 4% credits are also available year round. You must apply for tax credits using our Multifamily Common Application in the Multifamily Customer Portal.  Documents are listed for reference on the Application Resources web page.

2020 HTC Program Procedural Manual and Documents

Note: The provisions of the 2020 QAP applicable of the state housing tax credit ceiling (9% HTC) were approved by the Governor in October, 2018.

2020 Important Dates - coming soon

2020 Content and Scoring Changes

2020 HTC Program Procedural Manual

2020 QAP

2020 Methodologies:

2020 HTC Self-Scoring Worksheet(xlsm.) If using Firefox, you may be prompted to open the file or save the file. Please use "save As" option to download these files, rather than "Open." 

2020 HTC Self-Scoring Worksheet - Not for submittal. (Document is for reference only.)

2020 HTC and 2019 Deferred Scoring Guide

Underwriting Standards - Effective for applications submitted after the 2020 RFP publish date
(to be released 4.2020)

Underwriting Standards - (revised 4.2019) - Effective for applications submitted after 4.5.2019

2020 Design and Construction Standards - coming soon

2020 Cost Containment Thresholds - coming soon

2020 Final Point Ranges - coming soon

2020 HTC Declaration of Land Use Restrictive Covenants (LURA) - coming soon

2020 HPH Rider - The HPH Rider must accompany the HTC Declaration as an additional requirement - coming soon

2019 HTC Program Procedural Manual and Documents
HTC Application Reference Materials

Previous Years Manuals, Qualified Allocation Plans, Declarations, Scoresheets, Design Standards and Important Dates

2008 through 2018 Procedural Manuals and Documents

Compliance Monitoring

Housing Tax Credit Compliance - Overview, Dates, Manual, Owner and Tenant Certification Forms

Changes in Ownership or Proposed Development

Minnesota Housing strongly discourages the transfer of ownership or any material project or building design changes for developments that have been awarded tax credits. Any unapproved transfers or changes could be penalized by the complete or partial loss of tax credits as well as the assessment of penalty points. If an owner wishes to change or transfer ownership, the following forms must be submitted to Minnesota Housing for approval along with a transfer fee and the other documentation described in the HTC Program Procedural Manual, Chapter 2.

 
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