Risk Mitigation Fund Program

In order to be eligible, properties must be considered Naturally Occurring Affordable Housing (NOAH) and must be multifamily rental housing. To meet the definition of NOAH multifamily rental housing, a property must fulfill each of the following requirements:

• Have four or more rental units
• Be at least 20 years old
• Have rents in a majority of the units that are affordable to households at or below 60% of the greater of state or area median income (AMI) as determined by the United States Department of Housing and Urban Development (HUD)
• Not currently have federal or state financing or tax credits that require income or rent restrictions, except for public housing, as defined in section 9 of the Housing Act of 1937, that is part of a mixed-finance community

An eligible recipient is one of the following:

• Local unit of government (subject to limitations as outlined in the NOAH Multifamily Program RFP Application Instructions)
• Federally recognized American Indian Tribe located in Minnesota or its Tribally Designated Housing Entity
• Private developer
• Limited equity cooperative
• Cooperative created under Minnesota Statutes Chapter 308A or Minn. Stat. Chapter 308B
• Nonprofit organization

The eligible recipient must own or control the property, which is demonstrated by meeting one of the following criteria:

• Properties are directly owned by the eligible recipient.
• Properties are owned by a Limited Liability Company (LLC), Limited Partnership (LP), or other similar ownership entity with approval from Minnesota Housing at its sole discretion, and the eligible recipient is the managing general partner or member of the LLC, LP, or other similar ownership entity. If there is more than one general partner or member, the eligible recipient must control at least 50% of the combined ownership of all general partners or members in the ownership entity.
• Other properties where the eligible recipient can demonstrate ownership or control at Minnesota Housing’s sole discretion.

Minnesota Housing is now accepting applications for the NOAH Multifamily Program RFP. Application materials must be received by 12:00 p.m. (noon) Central time on Thursday, July 24, 2025, to be considered for funding.

• Multifamily Program RFP Application Instructions
• RFP Application
• General Certification Form
• Application Checklist (updated June 5, 2025)
• Self-Scoring Worksheet
• Budget 

Applicants must submit all required items on the Application Checklist using the Multifamily Secure Upload Tool. Visit Minnesota Housing’s Partner Login webpage and review the Secure Upload Tool Instructions for more information on how to submit the required items.

Provides further details on project applicability, timelines, and the electronic submission processes. This is a living document with updates happening as needed. Check back for new questions and updated guidance. 

• 2021-2023 Final Progress Report - End of biennium final report
• Housing Voucher Certificate of Participation
• EFT Minnesota Management and Budget Form
• Government Data Practices Act Disclosure Statement
• Government Data Practices Act Disclosure Statement Instructions
• Request for Payment Standard Waiver
• Termination Notice

Must submit information to:  Multifamily Secure Upload Tool. Visit Minnesota Housing’s Partner Login webpage and review the Secure Upload Tool Instructions for more information on how to submit the required items. List out either the Secure Upload Tool information (if submitting private data) or an email address for the person that information should go to.  Joel and Lauren S are working out the details of what needs to be submitted and who it needs to be submitted to. It could be a distribution group that forward to the inside staff person.