The City of Minneapolis (through its role in the Minneapolis/St Paul Housing Finance Board) is a Suballocator of 9% and 4% Housing Tax Credits (HTCs). The City solicits applications for 9% HTCs through an annual Notice of Funding Availability (details below). The City allocates 4% HTCs in conjunction with an issuance of Housing Revenue Bonds. HTC program materials and forms can be found at the links below.
Year 2023 9% Housing Tax Credits: 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.
Funding proposals were due by 4:00 p.m., CDT, on July 21, 2022. 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 Emily Carr.
NOTE: Current HOUSING TAX CREDIT PROGRAM COMPLIANCE MANUAL as well as other relevant tax credit compliance information is available at Affordable Housing Connections.
2023 NOFA Developer Letter – a copy of the letter that was sent to known tax credit developers announcing this year's Notice of Funding Availability.
Interested applicants should review the HTC Manual and Qualified Allocation Plan and all additional materials:
- Minnesota Housing Multifamily Workbook
- 2022-2023 HTC Manual
- 2022-2023 Qualified Allocation Plan
- Opinion of Counsel – Application
- Self Scoring Worksheet - 9%
- Agreement to Utilize Public Housing Waiting List (Minnesota Housing HTC-11)
- Previous Participation
- Project Team Resumes
- 2022 Rent and Income Limits
- 2022 Areas of Concentrated Poverty (ACP50) Map
- Maintenance and Operating Expense Review and Underwriting Certification
- Equal Employment Opportunity Policy Statement
- Multifamily - Intended Methods Worksheet: MN Overlay to Green Communities
- Income Averaging Rent and Income Grid
- Income Averaging Certification Form
- Tenant Selection Plan Guidance
Carryover, Placed in Service, and Additional HTC Exhibits
- Opinion of Counsel Regarding Carryover
- Self Scoring Worksheet – 4%
- Transfer of Interest Form
- Declaration of Land Use Restrictive Covenants
- Declaration of Land Use Restrictive Covenants – Exhibit D
- Carryover Application
- Carryover Building Information
- 8609 Building Map
- Final Cost Certification
- Final Cost Certification Statement
- 8609 Application
- 8609 Application - Exhibit A
- Election of Gross Rent Floor Bond-Financed
- Election Rent Floor (Minnesota Housing (Competitive State CAP))
- Opinion of Counsel - Placed in Service
- Additional HTC exhibits
- Election of Applicable Percentage
- Owner Certification of VAWA Compliance
Please note that, though it is not anticipated, these materials are subject to change without notice.
Online information from the City of Minneapolis Community Planning and Economic Development.