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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.

Amended 2018 Housing Tax Credit Qualified Allocation Plan

Minnesota Housing is proposing revised amendments to the 2018 Qualified Allocation Plan (QAP). The Minnesota Housing QAP is our plan for the distribution of Low-Income Housing Tax Credits. It combines state and federally legislated priorities and other Minnesota Housing priorities.

The proposed amendments were approved during Minnesota Housing’s board meeting on February 23. The updated documents: HTC QAP, HTC Procedural Manual, and Self-scoring Worksheet have been updated in the 2018 Platform below.

Please note that these proposed amendments are contingent upon approval from the Governor.  

View a description of the revised amendments.

Contact Summer Jefferson with questions.

Amended 2018 Procedural Manual and Documents

Amended 2018 HTC Manual - Subject to final approval from the Governor

Amended 2018 QAP - Subject to final approval from the Governor

Amended 2018 Methodologies:

Amended 2018 Self Scoring Worksheet - Subject to final approval from the Governor

Homelessness Rider (coming soon) - Declaration of Land Use Restrictive covenants for Low-Income Housing Tax Credits (The Homelessness rider must accompany the HTC Declaration as an additional requirement) 

Final Tax Credit Allocation 8609 Forms

 
Application Materials
HTC Application Reference Materials
Procedures for 2016 Carryover of Housing Tax Credits
Procedure for Final Housing Tax Credit Allocation Certification - IRS 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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