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.

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2022 QAP and 2021 Consolidated RFP Funding Priorities Engagement Opportunities

In the coming months, Minnesota Housing will lead and participate in several engagement opportunities that will gather input from a variety of stakeholders including local units of government, community-based organizations, economic development organizations, state agencies, funding and collaborating partners, developers, and communities most impacted by housing needs as we develop the 2022 QAP which sets overall 2021 Consolidated RFP funding priorities.
 
Read more about this, check out our 2022 QAP/2021 Consolidated RFP funding priorities calendar, and sign up to receive email updates about the development of the QAP and Consolidated RFP funding priorities including future opportunities for input. 

2020 Housing Tax Credits Round 2

Minnesota Housing is now accepting applications for Round 2 of the 2020 Housing Tax Credit (HTC) Program. There is approximately $529,618 in tax credits available; $103,540 in the Rural Development/Small Project set-aside (RD set-aside) and $426,078 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. Applications are due Friday, January 31, 2020 by 12:00 p.m. Learn more by reading our 2020 HTC Round 2 Application Instructions.

Market Study Authorized Analyst List

Minnesota Housing is now accepting applications for Market Analysts to be included on the Authorized Contractor list for Low Income Housing Tax Credit Development Market Studies.  Applications are due Friday, January 31, 2020 by 12:00 p.m.

HTC Market Study Materials:

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 Resources web page.

2021 HTC Program Procedural Manual and Documents

2021 Important Dates - coming soon

2021 QAP Summary of Approved Content Changes

2021 QAP Additional Approved Changes Generated from Public Comments 

2021 HTC Program Procedural Manual

2021 QAP

2021 Methodologies:

2021 HTC Self-Scoring Worksheet (xlsm) - coming soon

2021 HTC and Deferred Scoring Priority Checklist Guide - coming soon

2021 HTC Self-Scoring Worksheet - Competitive Funding Round (pdf) Not for submittal. Document is for reference only.

2021 HTC Self-Scoring Worksheet - 4% Only (pdf) Not for submittal. Document is for reference only.

2021 QAP Composite Map - Greater Minnesota

2021 QAP Composite Map - Metro

2020 HTC Program Procedural Manual and Documents
Additional HTC Application Reference Materials

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

2008 through 2019 Procedural Manuals and Documents

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, contact Minnesota Housing’s Request for Action (RFA) team for more information. To contact the RFA team, visit the Servicing Requests webpage.

Returns of Housing Tax Credits