State Housing Tax Credit Due Diligence Checklist
Designated Contributions for Interim Construction Financing of Owner-Occupied Projects
Date: April 2026
Listed below is an overview of the documentary requirements for projects that have been designated to potentially receive a Designated Contribution through the State Housing Tax Credit (SHTC) Contribution Program. 
Documents must be submitted to mhfa.app@state.mn.us using the Secure Upload Tool. In the subject line, use the naming convention SHTC.ProjectName.DeveloperName. Step by step instructions can be found in the Secure Upload Tool Instructions.  
Table 1, Interim Construction Financing Due Diligence Items
#	Document	Requirements	
1	Qualification Attestations
RTF Fillable  |  PDF Fillable	This document contains attestations to confirm the Recipient is an eligible recipient of SHTC funds and that the project meets eligibility criteria. 
 	
2	No Control or Ownership Attestation 	Contact Minnesota Housing to receive the appropriate document with the list of contributors on Exhibit A. 
Recipients attest that the contributors do not have 20% or more ownership or control of the Qualified Project and the Recipient is eligible to receive program funds.  
No Control or Ownership Attestation-Business 
No Control or Ownership Attestation-Individual	
3	Organizational Documents	Provide copy of articles of incorporation 	
4	SWIFT Vendor ID Number	A SWIFT Vendor ID number will be needed for processing disbursements: 
•	If Recipient has a SWIFT Vendor ID number, please call the Helpline at 651.201.8106 to verify that your information (address, bank routing number, and account number) is correct.
•	If Recipient does not have a SWIFT Vendor ID number please call the Helpline at 651.201.8106.	
5	Prevailing Wage Certification, if applicable	Projects that receive funds from Minnesota Housing must comply with state prevailing wage requirements under Minnesota Statutes Chapter 177 and Minnesota Statutes Section 116J.871, as applicable. For all questions related to prevailing wage requirements and documentation, contact Karen Bugar, karen.bugar@state.mn.us, at the Minnesota Department of Labor and Industry (DLI). 
*All prevailing wage determinations are made by DLI. 
	
6	Certificate of Good Standing	Certificate of Good Standing issued by the Minnesota Secretary of State dated within 30 days of the transaction/closing date. Needed for Recipient and, if applicable, general partners/LLC members	
7	Other documents, as necessary	Minnesota Housing may request other documents as necessary to verify the Administrator is eligible to receive funds from the SHTC Contribution Program.	
8	Workbook	The Homeownership Interim Loan Funds workbook must be completed and submitted. 	
9	Scope of Work	Required for rehabilitation projects 	
10	Documents for Other Sources of Funding, if applicable	Copies of loan documents or grant agreements from other sources. Approvals and modifications from all lenders must be included, if applicable.	
11	Proof of Ownership or Control	Provide documentation demonstrating ownership or control of the property. Documentation may include
•	Warranty deed
•	Tax statement
•	O&E report (dated within 120 days of closing)
•	Purchase Agreement
Other documents approved by Minnesota Housing	
12	SHTC Disbursement Form, with attachments, if applicable	If the project has multiple disbursements, after the first closing disbursement, funds are disbursed to the Recipient after review and approval of the SHTC Contribution Program Disbursement Request Form, including proof of payment for costs paid to contractors/vendors from the initial disbursements and any additional documentation Minnesota Housing, at its sole discretion, deems necessary.	
13	Other documents, as necessary	Minnesota Housing may request other documents as necessary to verify the Recipient, loan, and project are eligible to receive funds from the SHTC Contribution Program.	
Interim Loans: Construction Close Out
#	Document	Requirements 	
14	Workbook	An updated Workbook, including development costs, sources, and uses must be completed and submitted. 	
15	Certificate of Project Completion*, Sworn Construction Statement*, or Certificate of Occupancy	*Submitted by the architect, professional engineer or qualified rehabilitation specialist.	
16	Documentation of projects costs and receipts	Provide detail of all project costs. Provide copy of paid invoices totaling at least the amount of the SHTC loan.	
17	SHTC Disbursement Form, with attachments, if applicable	If there are still funds to disburse at project close out, submit the SHTC Contribution Program Disbursement Request Form, including proof of payment for costs paid to contractors/vendors and any additional documentation Minnesota Housing, at its sole discretion, deems necessary.
	
18	Photos of Completed Work	Digital photos showing a typical sampling of work completed.	
19	Homebuyer Qualification Information	Documentation that the homebuyer meets the requirements of the State Housing Tax Credit Program. 
SHTC SF Tennessen Warning
SHTC SF Eligibility Income Worksheet with supporting income documentation	
20	Proof of Sale	Documentation of sale and transfer of property to eligible homebuyer. 
•	Copy of recorded warranty deed, and
•	Copy of signed settlement statement	
21	Other documents, as necessary	Minnesota Housing may request other documents as necessary to verify the Recipient, loan, and project are eligible to receive funds from the SHTC Contribution Program.