Qualifications of Sponsor and/or Guarantor
Definitions and Instructions 
Submit this completed qualification form and the required attachments listed below for each Sponsor and Guarantor, as defined below:
•	A Sponsor is an individual, legal entity, or other organization that exercises decision-making control over the project.
•	A Guarantor is an individual, legal entity, or other organization that signs guarantees relating to awarded loans. 

Refer to Chapter 1 of the Minnesota Housing Multifamily Underwriting Standards for additional details. 

Instructions: 
•	Qualification forms must be completed by an authorized officer of the organization, or an individual assigned as a Sponsor and/or Guarantor.
•	Submit the completed qualification form to mhfa.app@state.mn.us through Partner Login on Minnesota Housing’s website.
•	Do not email financial or other private data directly to Minnesota Housing staff email accounts.
•	Minnesota Housing is not able to access files provided on thumb drives or other forms of external plugins. 
•	Submit each specified document as separate, clearly labeled files rather than one large, single PDF. 
•	Directions can be found on the Partner Login webpage on Minnesota Housing’s website. 

Contact financial.services.mhfa@state.mn.us with questions. 

Sponsor/Guarantor Contact Information	
Full Legal Name of Sponsor/Guarantor	     	
Address	     	
City, State, Zip	     ,            	
Website	     	
Contact Person 	      Discuss private data Y  N 
	
Contact Person Email Address/Phone Number	Email Address:      	Phone:      	
Contact Person (Optional) 	      Discuss private data Y  N 	
Contact Person Email Address/Phone Number	Email Address:      	Phone:      	

General Required Information/Attachments
1.	Provide organizational charts showing the project ownership structure for each project being submitted by the Sponsor/Guarantor, including the percentage of ownership interest, cash flow, and sales proceeds for each entity reflected on the chart. For related party and/or multistep transactions, include organizational charts for the current and each proposed ownership structure, as applicable. NOTE: Notify Larry Kelly at Minnesota Housing of any intended transactions or conveyances of ownership that occur after the submission of this form.      
2.	List each project’s:
•	Additional Sponsor(s)
     
•	Additional Guarantor(s) 
     
•	Board members for nonprofits 
     
3.	Is the organization at least 51% led or owned by a woman or women?    Yes  No

4.	Is the organization at least 51% led or owned by a person or people who are Black, Indigenous or people of color*?     Yes   No

*Includes Native and Indigenous North and South American, Black and African-descent, Hispanic or Latinx, Asian and Pacific Islander, and other non-white communities.

5.	Is the organization a Tribe or Tribally designated housing entity, or a Tribal corporate entity?     Yes     No

6.	As an attachment for each Sponsor and/or Guarantor, provide an accounting of any prior bankruptcy or filed petitions of bankruptcy, assignments for the benefit of creditors, unsatisfied judgements outstanding, any litigation in the last five years, any known pending litigation, any property foreclosed upon or title given deed in lieu thereof, in the past seven years and circumstances related to ineligibility for any federally insured lending programs.
     
7.	As an attachment, provide a list of projects being submitted in connection with this document (e.g., multiple RFP project applications).  Include the D# (if applicable), and any unrelated developer entities and/or processing agents (if applicable). Entities submitting three or more projects should provide additional details on staffing and capacity to get all submitted projects to closing within a reasonable time period. 
8.	As an attachment, provide a list of projects that Minnesota Housing is currently engaged with, including but not limited to:
•	Projects selected for Minnesota Housing funding but have not closed (initial or final closing)
•	Projects with an allocation or award of HTCs from Minnesota Housing but do not have 8069s (include both 9% and 4% projects)
•	Pipeline applications
•	Other active Minnesota Housing RFP applications
•	First mortgage refinancing, 
•	Pending Requests For Action  
Include the D# (if applicable), and any unrelated developer entities and/or processing agents (if applicable).
9.	 If the Sponsor has relevant experience other than the development of multifamily housing, provide a resume or an attachment that explains responsibilities, accomplishments, and other details that will provide a fuller picture of the developer’s background, capacity, and experience.   

10.	What other information is important for Minnesota Housing to know about the Sponsor’s background that we have not asked about?       

Sponsor/Guarantor Financial Information
Individuals. Provide the following:
1.	Most recent three years of federal and state tax returns, including all schedules and K-1s. Minnesota Housing reserves the right to request IRS Form 4506-T (Request for Transcript of Tax Return)
2.	Personal credit report, no older than sixty (60) days from the date of application submission, from one of the following credit bureaus: Equifax, Experian, or Transunion.
3.	Schedules A-E (all in same spreadsheet) (NOTE: Custom formats will be accepted if all requested information is included):
a.	Schedule A – Multifamily Income Producing Properties (MF IPP-Schedule A)
b.	Schedule B – Land and Properties under Development (PUD-Schedule B) 
c.	Schedule C – Contingent Liability Schedule (CONT LIAB-Schedule C)
d.	Schedule D – Personal Financial Statement, or HUD Form 92417, or a CPA prepared personal financial statement (PFS-Schedule D)
e.	Schedule E – Commercial Income Producing Properties (Leased Property, Not Operated Businesses) (COMMERCIAL-Schedule E) 
4.	Documentation of cash and marketable investments (bank and brokerage statements), no older than sixty (60) days from the date of application submission.

Business Entities. Provide the following:
1.	Most recent three years of federal and state tax returns, including all schedules and K-1s. Minnesota Housing reserves the right to request IRS Form 4506-T (Request for Transcript of Tax Return)
2.	Financial statements: 
a.	Most recent three years of independent financial audit reports if revenue exceeded $750,000, in any of the three years.
b.	Board certified financial statements if revenue was $750,000 or less in all three years.
c.	If an independent financial audit is required per 3(a), and the most current available financial audit is dated more than twelve (12) months prior to the application date, include an owner certified financial statement for the most current fiscal year end along with the independent financial audit.
3.	If unable to provide an independent financial audit report, then provide:
a.	A corporate credit report, no older than sixty (60) days from the date of application submission, from one of the following credit bureaus: Equifax, Experian, or Transunion AND
b.	Submit Schedules A-E (all in same spreadsheet) (NOTE: Schedule D does not apply to corporations; custom formats accepted if all requested information is included):
i.	Schedule A – Multifamily Income Producing Properties (MF IPP-Schedule A)
ii.	Schedule B – Land and Properties under Development (PUD-Schedule B)
iii.	Schedule C – Contingent Liability Schedule (CONT LIAB-Schedule C)
iv.	Schedule E – Commercial Income Producing Properties (Leased Property, Not Operated Businesses) (COMMERCIAL-Schedule E)
4.	Bank reconciliation of unrestricted cash accounts, and brokerage statements of investment accounts, no older than sixty (60) days from the date of application submission.

Local Units of Government (HRA, EDA, CDA, City, or County) and Tribal Nations. Provide the following:
1.	Financial statements:
a.	Most recent three years of independent financial audits if revenue exceeded $750,000 in any of the three years 
b.	Board certified financial statements if revenue was $750,000 or less in all three years
c.	If an independent audit is required per 3(a), and the most current available is dated more than twelve (12) months prior to the application date, include an owner certified financial statement for the most current fiscal year end 
2.	Provide Bond Rating and Taxing Authority details, if applicable.
3.	If unable to provide an independent financial audit report, submit Schedules A-E (all in same spreadsheet) (NOTE: Schedule D does not apply to corporations; custom formats accepted if all requested information is included):
a.	Schedule A – Multifamily Income Producing Properties (MF IPP-Schedule A)
b.	Schedule B – Land and Properties under Development (PUD-Schedule B)
c.	Schedule C – Contingent Liability Schedule (CONT LIAB-Schedule C)
d.	Schedule E – Commercial Income Producing Properties (Leased Property, Not Operated Businesses) (COMMERCIAL-Schedule E)
4.	Bank reconciliation of unrestricted cash accounts, and brokerage statements of investment accounts, no older than sixty (60) days from the date of application submission.

Tennessen Warning: The purpose of this warning is to enable the undersigned, if an individual Sponsor or Guarantor, to make an informed decision about whether to give data about themselves. Minnesota Housing is collecting this data to assess whether the project meets the qualifications for funding. The undersigned is not legally required to provide any of the requested data; however, if such data is not provided, then Minnesota Housing may not be able to determine whether this project qualifies for funding and the application may be denied. The data supplied may be shared upon a court order or with Minnesota Housing staff whose duties require them to use the data, enforcement agencies with statutory authority, the state or legislative auditor, and other entities or persons as able or required under state or federal law.

Minnesota Housing, at its sole discretion, reserves the right to request any additional financial and/or other information deemed necessary to complete its financial review. 

Certification
The undersigned hereby certifies to Minnesota Housing, that the information set forth in this qualification form, and in any attachments, is true, correct, and complete in all respects at the time of submission and gives a correct showing of the financial condition of the Sponsor/Guarantor, including that there have been no material changes in financial position since the effective date(s) of the documents provided. The undersigned further acknowledges, on behalf of the Sponsor/Guarantor, that this submission may inform Minnesota Housing decision making, and that significant monetary or other damages may result from actions based on false and/or inaccurate representations. 

     	     	
Print Name
 Sponsor/  Guarantor (check one)	Signature	
	
     	     	     	
Printed Authorized Signatory	Title of Authorized Signatory	Date 	

     	     	
Print Name 
 Sponsor/  Guarantor (check one)	Signature	
	
     	     	     	
Printed Authorized Signatory	Title of Authorized Signatory	Date