2021 Housing Tax Credit Notice of Funding Availability
The City of Minneapolis is soliciting development funding proposals for the 9% Housing Tax Credit (HTC) Program. The program offers a reduction in tax liability to owners and investors in eligible low-income new construction, rehabilitation and/or acquisition of existing rental buildings.
Applications will be submitted via SharePoint for 2020. Please contact Hanna Bekele at your earliest convenience for access. A project application will be created for all required 9% HTC materials to be uploaded and submitted. To request SharePoint access, applicants must include the email addresses for all team members that will need access to the application folder, the project name, and the project address.
Funding proposals are due by 4:00 p.m., CDT, on July 31, 2020 at which time SharePoint permissions will be removed. The City has the right to reject any and all applications at its sole discretion. Questions regarding this NOFA or the HTC Program should be directed to Amy Geisler at 612-673-5038.
NOTE: Current HOUSING TAX CREDIT PROGRAM COMPLIANCE MANUAL as well as other relevant tax credit compliance information is available at Affordable Housing Connections.
2021 HTC Developer Letter – a copy of the letter that was sent to known tax credit developers announcing this year's Notice of Funding Availability.
Interested developers should review the HTC Manual and Qualified Allocation Plan and all additional materials:
- Minnesota Housing Multifamily Workbook
- 2021 HTC Manual (PDF)
- 2021 Qualified Allocation Plan (EXHIBIT A) (PDF)
- Opinion of Counsel – Application (Exhibit B) (DOC)
- 2020 Qualified Census Tracts (Exhibit C) (PDF)
- Self Scoring Worksheet - 9% (Exhibit E) (XLS)
- 2021 Cost Containment Thresholds (PDF)
- 2020 Cost Containment Thresholds (PDF)
- Agreement to Utilize Public Housing Waiting List (Minnesota Housing LIHC-11) (Exhibit J) (DOC)
- Previous Participation (Exhibit K) (DOC)
- Project Team Resumes (Exhibit L) DOC)
- 2020 Rent and Income Limits (Exhibit N) (PDF)
- Areas of Concentrated Poverty (ACP50) Map (Exhibit U) (PDF)
- Maintenance and Operating Expense Review and Underwriting Certification HTC-29 (Exhibit W) (DOC)
- Equal Employment Opportunity Policy Statement (Exhibit Z) (DOC)
- Multifamily - Intended Methods Worksheet: MN Overlay to Green Communities (Exhibit AA) (XLS)
- Income Averaging Rent and Income Grid (Exhibit AB) (XLS)
- Income Averaging Certification Form (Exhibit AC) (DOC)
- Tenant Selection Plan Guidance (Exhibit AD) (PDF)
Carryover, Placed in Service, and Additional HTC Exhibits:
- Opinion of Counsel Regarding Carryover (Exhibit D) (DOC)
- Self Scoring Worksheet – 4% (Exhibit F) (XLS)
- Transfer of Interest Form (HTC-27) (Exhibit M) (DOC)
- Declaration of Land Use Restrictive Covenants (Exhibit Q) (DOC)
- Applicable Fraction and Qualified Basis by Building (XLS)
- Building Map – HTC 28 (Exhibit R) (DOC)
- Final Cost Certification (HTC-9) (Exhibit T) (XLS)
- Final Cost Certification Statement (HTC-9) (Exhibit A) (XLS)
- Application for 8609 (HTC-3) (DOC)
- 8609 Application (HTC-3 - Exhibit A) (XLS)
- Statement of Election of Gross Rent Floor Bond-Financed (HTC-34) (DOC)
- Statement of Election Rent Floor (Minnesota Housing LIHC-26 (Competitive State CAP)) (DOC)
- Opinion of Counsel - Placed in Service (Exhibit X) (DOC)
- 2020 Additional HTC exhibits (DOC)
- Election of Applicable Percentage (DOC)
Please note that, though it is not anticipated, these materials are subject to change without notice.
Please contact Amy Geisler at 612-673-5038 with questions.
Online information from the City of Minneapolis at MinneapolisMN.gov/CPED
Last updated May 14, 2020