Minneapolis Homes Vacant Property Rehabilitation application

We explain how to apply for funding to rehab City-owned property. You must submit all required information to apply.

What to know

There are multiple deadlines before applying.

See important dates

Applications must be emailed by 4 p.m. on Tuesday, January 16, 2024.

Email application to the Minneapolis Homes team

Two types of development

We offer funding for two types of development:

  • City-owned property purchase
  • Affordable homeownership units

Required documents

To apply, you must submit the following documents for the type of development you wish to do.

Submit documents to Minneapolis Homes: Build or Rehab

  • The Notice of Funding (NOFA) application document
  • The Rehab structure offer to purchase document
    • If privately owned then documentation of site control instead of offer to purchase.
  • Your construction plans, including:
    • Floor plans
    • Elevations
    • Proposed lot layout
  • One of the following documents that supports the sales price and completed project’s value:
    • A broker price opinion (BPO)
    • A comparative market analysis (CMA), or
    • An appraisal
  • Documentation of financing, including:
    • Pre-approval letter from lender on letterhead, dated within 90 days
    • Bank statements within 30 days
    • Pending listing with amount of net sale proceeds expected 
  • Proforma specific to homeownership or rental proposal type
    • Homeownership proposal:
      • At least 10% of units in homeownership proposals must be for sale to and affordable to households at or below 80% AMI.
      • Financing is available for the affordable ownership units through this NOFA. For financing information and subsidy limits, see Minneapolis Homes: Financing.
      • Minneapolis Homes Proforma
    • Rental proposal:
      • At least 20% of units in rental proposals must have rents affordable and restricted to households at or below 60% AMI.
      • Financing is not available for rental proposals through this NOFA.
      • See the cashflow spreadsheet
  • Eligible applicants are encouraged, but not required, to apply for CHDO or CBDO certification:

Documents

Request accessible format

If you need help with this information, please email 311, or call 311 or 612-673-3000.

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Contact us

Minneapolis Homes: Build or Rehab

Community Planning & Economic Development

Address

Public Service Building
505 Fourth Ave. S., Room 320
Minneapolis, MN 55415