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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.

Planning and Financing Affordable Housing in your Community

Do you represent a city, county, or other community partner interested in affordable housing? Minnesota Housing has tools you can use to successfully access Low Income Housing Tax Credits or other sources of funding for development activity in your community. Learn how possible sites in your community align with Minnesota Housing's strategic priorities, and what cities and counties can do to give developments in their community the best chance of success. We'll provide an overview of the interactive Community Profile tool, which provides data to help plan affordable housing in your community.
 
Join us for a Webinar on Wednesday, Friday 21 from 9:00-10:00 a.m. Register by noon on February 20. For additional information or questions, contact Tamara Wilson at tamara.wilson@state.mn.us or 651.296.4451.

2020 Qualified Allocation Plan Learning and Feedback Opportunities

We are offering online and in-person sessions for you to learn more about Minnesota Housing's 2020 QAP, which will govern how we award 2020 Housing Tax Credits to developments. We publish the QAP a year in advance of applications being due to give communities and developers sufficient time to effectively align their applications with the allocation plan. We will release information in late February with more details on proposed 2020 QAP changes. For more information and to register for these sessions, read our 2020 QAP eNews.

New Information about 4% Housing Tax Credits for Use with Private Activity Bonds (4% Only)

Minnesota Housing is currently accepting pre-applications and will be accepting applications for the allocation of 2018 4% housing tax credits (42M) for projects financed with tax-exempt private activity bonds (tax-exempt bonds) from MMB beginning in January 2018. Pre-applications and applications must be submitted in Minnesota Housing's new, online Multifamily Customer Portal (Portal). Read our 4% HTC eNews to learn more about our new process.

Learn more about the QAP

If you’re new to the Housing Tax Credit and QAP process, view a recorded webinar that was hosted by Minnesota Housing in May. The Webinar includes a high level overview of the QAP and potential 2019 QAP changes, along with the recorded Question and Answers session that was held during the webinar. It is designed for community members and stakeholders who are interested in the strategic and policy direction of the QAP.

 
Amended 2018 Procedural Manual and Documents
Application Materials
HTC Application Reference Materials
Procedures for 2017 Carryover of Housing Tax Credits
Procedure for Final Housing Tax Credit Allocation Certification - IRS Form 8609

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

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 Procedural Manual, Chapter 2.
 
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