Housing Tax Credits

The Low-Income Housing Tax Credit (HTC) Program is a financing program for qualified residential rental properties. The HTC program offers investors a 10-year reduction in tax liability in exchange for capital to build eligible affordable rental housing units in new construction, rehabilitation, or acquisition with rehabilitation.

Quick Links:

Apply for Housing Tax Credits

Housing Tax Credits (9%) are allocated twice per year - the Consolidated RFP with much of our other funding, and during a Round 2 RFP that is also competitive. 4% credits are also available year-round.  You must apply for tax credits using our Multifamily Common Application in the Multifamily Customer Portal.  Documents are listed for reference on the Application Resource web page.

2019 Housing Tax Credit Program Round 2 Due January 31, 2019

Minnesota Housing is now accepting applications for Round 2 of the 2019 Housing Tax Credit (HTC) Program. There is approximately $406,000 in tax credits available; $93,000 in the Rural Development/Small Project set-aside (RD set-aside) and $313,000 in the unified pool. The RD set-aside is carried forward to Round 2, and if there are no eligible applications, the tax credits will be available to other projects. Intent to applies are due Thursday, January 17, 2019 by 5:00 p.m. and applications are due Thursday, January 31, 2019 by 5:00 p.m. View  the 2019 HTC Round 2 Housing Tax Credits Application Instructions for more information and submission details. Income averaging will be permitted with HTC Round 2 submissions and more information will be available soon.
 
2019 HTC Program Procedural Manual and Documents
Amended 2018 HTC Program Procedural Manual and Documents
HTC Application Reference Materials

Previous Years Manuals, Qualified Allocation Plans, Declarations, Scoresheets, Design Standards and Important Dates

Compliance Monitoring
Housing Tax Credit Compliance - Overview, Dates, Manual, Owner and Tenant Certification Forms

Changes in Ownership or Proposed Development
Minnesota Housing strongly discourages the transfer of ownership or any material project or building design changes for developments that have been awarded tax credits. Any unapproved transfers or changes could be penalized by the complete or partial loss of tax credits as well as the assessment of penalty points. If an owner wishes to change or transfer ownership, the following forms must be submitted to Minnesota Housing for approval along with a transfer fee and the other documentation described in the HTC Program Procedural Manual, Chapter 2.
 
Properties For Sale