Minnesota Housing is now accepting applications for the 2024 SHTC Contribution Program Request for Proposals (RFP), established pursuant to Minnesota Statutes, sections 462A.40 and 290.0683, collectively. Applications are due Thursday, September 19, 2024, by noon Central Time.
Contributions to the General Contribution Pool received between September 1, 2023, and August 31, 2024, will be made available for rental housing projects through the SHTC Contribution Program RFP and for single-family housing through the Community Homeownership Impact Fund RFP. Currently, there is approximately $1.8M in the General Contribution Pool. The amount in the General Contribution Pool may change if more contributions are received.
The General Contribution Pool is subject to the following set-asides:
- At least 10% will be set-aside for housing units located in a township or city with a population of 2,500 or less that is located outside of the metropolitan area as defined in Minnesota Statutes, section 473.121, subdivision 2;
- At least 35% will be set-aside for housing for people and families whose income is 50% or less of the area median income as published by the United States Department of Housing and Urban Development (HUD), as adjusted for household size; and
- At least 25% will be set-aside for single-family housing.
In 2024, the set-aside for single-family housing will be used as a funding source for the Community Homeownership Impact Fund RFP. The SHTC Contribution Program RFP will not accept applications for homeownership projects in 2024. If Minnesota Housing does not receive applications that qualify for the set-asides, the set-aside funds may be used for other Qualified Projects selected through the SHTC RFP, Multifamily Consolidated RFP or Community Homeownership Impact Fund RFP.
The SHTC Contribution Program RFP is intended for proposals that have not received and/or will not apply for affordable housing resources from the Multifamily Consolidated RFP or federal low-income tax credits. Proposals that need additional affordable housing resources must apply through the Community Homeownership Impact Fund RFP or Multifamily Consolidated RFP. Proposals with federal low-income housing tax credits must apply through the Multifamily Consolidated RFP. Proposals with attributes that make qualifying for awards through the Multifamily Consolidated RFP difficult are encouraged to apply to the SHTC RFP.
Applicants must submit all required items on the Application Checklist and all other required materials using the Multifamily Secure Upload Tool, which can be found on Minnesota Housing’s Partner Login webpage. Follow the prompts and use the email address mhfa.app@state.mn.us.