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Preservation

The purpose of this effort is to strategically invest scarce resources to preserve or stabilize critical rental units.  Recent changes have been made to the criteria and process for determining which properties are the highest priorities for preservation.  Priorities include properties at the greatest risk of opting out of the programs, those with the most immediate and critical need for rehabilitation, those housing tenants with the greatest needs and/or the fewest alternatives or those investments having the greatest community impact. 

New or updated resources for the 2014 RFP and 2015 HTC Rd 1:

  1. Imminent Risk: Market Conversion Model Workbook

  2. High Risk:  Determination of Critical Needs workbook

  3. Preservation Geographic Priority Areas

  4. REAC Dictionary

We also recommend that you schedule Technical Assistance with Minnesota Housing staff in April or May for further guidance on preservation eligibility.

Please watch the training tutorial to help you create a competitive application for preservation.  Training Notes

Forms and Submittals Required to Apply for Preservation Funds in Addition to Common Application Submittals:

For more detailed descriptions of the following submittal items, including resources to use to help you complete these submittals, please visit the Checklist help document and click on Preservation in the table of contents.
  1. Documentation relevant to Preservation of Federally Assisted Housing

  2. Recent Site Inspection Report

  3. Preservation tab of The Multifamily Workbook completed.

  4. Preliminary Determination of Eligibility (Optional) - this can be requested by applicant after applicant attends technical assistance with Minnesota Housing staff. Technical Assistance is highly encouraged - request TA now.

  5. Stabilization Plans only: ISG Confirmation of Collaborative Funder Commitment

  6. Imminent Risk only: Market Rate Conversion Scenario

  7. High Risk only: Determination of Critical Needs or Necessary Change in Ownership