Housing Tax Credit

Minneapolis is a suballocator of nine percent and four percent Housing Tax Credits (HTCs).

Overview

The City of Minneapolis is soliciting development funding proposals for the 9% Housing Tax Credit (HTC) Program. The program offers reduced tax liability to owners and investors in eligible:

Low-income new construction
Rehabilitation and/or
Acquisition of existing rental buildings

Application

Important: Applications will be submitted via SharePoint.

Review documents and application materials below.

Complete a Smartsheet access form to submit your application

Contact Housing Tax Credits for assistance with the form

Deadline

Proposals are due by 4 p.m. CDT on Thursday, July 25, 2024. The City has the right to reject any and all applications at its sole discretion.

Documents

Application materials

Interested applicants should review the HTC Manual and Qualified Allocation Plan and all additional materials:

Carryover, Placed in Service, and Additional HTC Exhibits

Please note that, though it is not anticipated, these materials are subject to change without notice.

Contact Emily Carr with questions

Program Description

This program helps finance affordable rental housing:

Production
Preservation
Stabilization

It covers projects located in Minneapolis.

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. The City allocates 4% HTCs in conjunction with an issuance of Housing Revenue Bonds.

Find a list of available units for Tax Credit or Section 42 housing by visiting the HousingLink website.