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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.

HTC 2016 Round 2

Minnesota Housing is now accepting applications for Round 2 of the 2016 Housing Tax Credit Program. There is approximately $730,000 in tax credits available in Round 2.
All applicants for Round 2 of the 2016 Housing Tax Credit Program must submit the Intent to Apply Form, supporting documentation, and fees by January 22, 2016 no later than 5:00 p.m. Final applications are due January 26, 2016 by 5:00 p.m.
Subject to approval, projects that meet both of the following qualifications will have priority in Round 2:
  • Previously received tax credits.
  • Have an annual tax credit shortfall of at least 5 percent but not more than 33.33 percent of the total qualified annual tax credit.
Applicants must complete and submit all Multifamily Rental Housing Common Application forms and submittals, along with all Additional Required Housing Tax Credit forms, submittals and fees (Common Application / Multifamily checklist supplemental requirements section and parts A-C). If applying for Long-Term Homelessness or Special Population points, also complete the Supporting Housing forms, narratives and submittals.

Multifamily Rental Housing Common Application Materials 

2017 Procedural Manual and Documents
Application Materials
HTC Application Reference Materials
Making Final CPA 10% Certification for 2015 Housing Tax Credit Carryover Allocations
Procedures for 2015 Carryover of Housing Tax Credits
Procedure for Final Housing Tax Credit Allocation Certification - IRS Form 8609 and Section 1602 Form 8609

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 Procedural Manual, Chapter 2.
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