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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

Please note: We are no longer recommending to our Board ANY changes for the 2017 QAP. In addition, any proposed amendments to the 2018 QAP will be delayed until the January 2017 board meeting and we extended our public comment period to November 30, 2016. See more details in the November 11, 2016 eNews.

Staff will review all comments and present a revised recommendation for amendments to the 2018 QAP at the January 2017 Board meeting. Following this meeting staff will request public comments on the revised proposal.

Housing Tax Credit 2017 Round 2 Funding Available

Minnesota Housing is now accepting applications for Round 2 of the 2017 Housing Tax Credit Program.  There is approximately $201,000 in tax credits available in Round 2.

Please note the seperate deadlines for Intent to Apply and full application below:

Step 1: Submit Intent to Apply

All applicants must submit the Intent to Apply form, supporting documentation, and the appraisal fee (if applicable) before your full application to let us know of your interest.

By January 16, 2017 at 5:00 p.m., submit:

  • An electronic copy of the Intent to Apply and all supporting documentation to mhfa.app@state.mn.us
  • A hard copy of the Intent to Apply form and the appraisal fee (without supporting documentation to: Minnesota Housing, 400 Sibley Street, Suite 300, St. Paul, MN 55101-1998.

Step 2: Submit Full Application

Complete the full application materials and submit your complete application by January 31, 2017 at 5:00 p.m.

Subject to approval, projects that meet both of the following qualifications will have priority in Round 2:

  • Previously recieved 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.

Questions? Contact Tamara Wilson at tamara.wilson@state.mn.us or 651.296.4451. 

2018 Procedural Manual and Documents
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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