SAMPLE: Tax Increment Financing (TIF) Resolution

Instructions: This sample resolution is applicable to the 2023 and 2024 Multifamily Consolidated Request for Proposals (RFP)/2024 and 2025 Housing Tax Credits (HTC) funding rounds. Submit the executed resolution from the local unit of government. If the executed resolution does not have the following: 1) the dollar amount, 2) the type of TIF (lump sum or pay-as-you go), 3) the number of years or term the TIF funds will remain in effect, 4) whether the project is new construction or rehabilitation, and 5) the number of units of multifamily affordable rental housing that will be created; an alternate resolution or TIF letter may be accepted by copying and pasting the information below into a separate document that also includes the local unit of government’s letterhead. See the sample TIF letter.

The alternative executed resolution or TIF letter must include the letterhead the local unit of government and contain any required terms that were not incorporated into the original resolution and outlined as follows: 1) the dollar amount, 2) the type of TIF (lump sum or pay-as-you go), 3) the number of years or term the TIF funds will remain in effect, 4) whether the project is new construction or rehabilitation, and 5) the number of units of multifamily affordable rental housing that will be created. 

NOTE: The TIF Resolution from the local unit of government is required. If the TIF Resolution includes the required terms, an alternate TIF Resolution or TIF Letter is not required. However, if the executed TIF Resolution from the local unit of government does not include the required terms, an alternate TIF Resolution or TIF letter must be submitted. In addition, TIF analysis should be submitted to assist with Minnesota Housing’s feasibility and underwriting review of the project. 

[Letterhead of Entity]

CITY OF [NAME OF CITY]
[NAME OF COUNTY] COUNTY
STATE OF MINNESOTA
RESOLUTION NO. [NUMBER]

WHEREAS, the City of [name of city] (“City”) has received a request to provide tax increment financing (TIF) assistance for [name of development] (“Development”) to be constructed in the City. The Council supports using $[amount] of [lump sum or pay-as-you-go] TIF funds for a term of [number of years] years from the TIF District to reimburse certain costs incurred in connection with the [new construction/rehabilitation] of the Development consisting of approximately [number of units] units of multifamily affordable rental housing. 

This Resolution was declared duly passed and adopted.
ATTEST:

								Secretary

Dated:					, 20	.
(Seal)

SAMPLE: Tax Increment Financing (TIF) Letter

Instructions: This sample tax increment financing (TIF) letter is applicable for the 2023 and 2024 Multifamily Consolidated Request for Proposals (RFP)/2024 and 2025 Housing Tax Credits (HTC) funding rounds. See the sample TIF Resolution instructions.
NOTE: In this sample TIF letter, we are using the City as the example.

[Letterhead of Entity]
 
[Month XX, 20XX]
 
Re:	[Name and Location of Project]
	[Minnesota Housing HTC#]

Dear Sir/Madam:

At its meeting on [date], the [name of city] City Council committed local assistance through the use of tax increment financing (TIF). The [name of city] City Council approved the allocation of $[amount] in tax increment financing for a total of [number of years] years for the [name of project] proposal. This assistance will be in the form of [specify lump sum or pay-as-you go] TIF.

The [name of city] City Council endorsement is evidenced by the [name of city] City Council’s approval of Resolution [number], a copy of which is included with this letter.

Sincerely,

[Authorized City Representative]