Minnesota Housing has initiated a new approach to Preservation of affordable housing through the 2016 Qualified Allocation Plan (QAP). The purpose of this effort is to strategically invest scarce resources to preserve or stabilize critical rental units. Recent changes have been made to the criteria and process for determining which properties are the highest priorities for preservation. Priorities include properties at the greatest risk of opting out of the programs, those with the most immediate and critical physical need; and those that are at risk of loss due to ownership capacity.
In order to be eligible for Preservation points under the 2016 QAP, you must participate in a mandatory preservation pre-application session and submit the required documentation prior to May 29, 2015 for HTC Round 1 or prior to December 15, 2015 for HTC Round 2. If you do not receive a preliminary Determination of Preservation Eligibility letter following this session, you will not be eligible for Preservation points in Minnesota Housing HTC Round 1 or Round 2.
- Schedule your Mandatory Preservation Pre-Application Session with Minnesota Housing staff for further guidance on preservation eligibility. This meeting must take place by May 29.
Submit the following documents at least five business days before your scheduled session to MHFA.Preservation.Preemail@example.com.
- Preservation Pre-Application with supporting documentation
- Multifamily Workbook (coming soon)
Please note that if you are applying for 9% credits for Preservation and your development has 40 or more units, you must also submit a dual 4% application.
Supplemental Documents for Pre-Application:
The following documents may be required to submit or reference with your Preservation Pre-Application. See instructions in the Pre-Application.