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Risk Mitigation Fund Program

The Property Owner Risk Mitigation Fund (RMF) Program was established pursuant to Minnesota Laws 2023, chapter 37, article 1, section 2, subdivision 9(b). The RMF Program is intended to reduce risks to property owners in efforts to expand housing opportunities for households with barriers to accessing housing or those unable to obtain housing without additional funding coverage or guarantees in place. Grant Proceeds are used to create or expand risk mitigation programs to recruit and engage property owners, reimburse property owners for damages or other eligible costs, link property owners and renter households to tenancy support services, and establish other strategies to support property owners serving eligible households.

Households served by property owners under this Program must be eligible under the FHPAP guidelines outlined in the FHPAP Program Guide. While Grant Proceeds will be directed only to services, activities, and reimbursements for property owners, Grant outcomes will be tracked for both property owners and renters.

Risk Mitigation Fund Program Guide - coming soon

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Eligibility

Eligible Applicants

  • Tribal Nations, including those recognized by the state of Minnesota and the federal government: Bois Forte Band of Chippewa, Fond du Lac Band of Lake Superior Chippewa, Grand Portage Band of Lake Superior Chippewa, Leech Lake Band of Ojibwe, Lower Sioux Indian Community, Mille Lacs Band of Ojibwe, Prairie Island Indian Community, Red Lake Nation, Shakopee Mdewakanton Sioux Community, Upper Sioux Community, and the White Earth Nation.
  • Twin Cities metropolitan counties, which include Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington counties
  • Non-metropolitan areas, which include a county, a group of contiguous counties jointly acting together, or a community-based nonprofit organization; and
  • Collaborative applications, including those from Continuum of Care regions and Tribal Nations, are encouraged.

Eligible Households

  • Household income must be at or below 200% of federal poverty guidelines;
  • Households must be Minnesota residents, or a household otherwise approved in writing by Minnesota Housing, approval of which is at Minnesota Housing’s sole discretion; and
  • Households must be homeless or at imminent risk of homelessness and in need of services and/or financial assistance due to a housing crisis.

Eligible Program Expenses

  1.  Up to 15% of the Grant Budget may be used for eligible program administrative expenses
  2. Up to 50% of the Grant Budget may be used to:
    • Develop the Program design and materials, including the documents the grantee uses to reflect demonstration of compliance with Program requirements
    • Market the Program and recruit property owners to participate
    • Build relationships and network with property owners
    • Explain the Program and educate property owners
    • Enroll property owners into the Program
    • Maintain contact and engagement with property owners during the Program
    • Establish Property Owner Services, as appropriate (these services must be offered at least for the duration of the initial lease).
    • Minnesota Housing may approve, at its sole discretion, other uses as proposed by the applicant to recruit, engage and support property owners.
  3. Program funds may be used for property owner payments in the form of reimbursements. A property owner enrolled in the RMF program may receive reimbursement payments for damages or other eligible financial losses that exceed the security deposit amount.

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