A casualty loss can result from the damage, destruction, or loss of your property from any sudden, unexpected, or unusual event such as a flood, tornado, fire or severe weather. A casualty doesn't include normal wear and tear or progressive deterioration.
Instructions: Complete Parts I and II following any casualty loss (including units out of service for more than one rental period). Send via email to john.hawkinson@state.mn.us. Include photos if possible. When all repairs have been made, complete and submit Part III and submit the fully completed form to the same email address.

Part I – Property identification and casualty loss information	
Property Name	     	D Number      	
Date of loss	     	
Loss was a result of:	 Fire	 Tornado   Flood   Severe Weather
 Other (explain)      	
Was a presidential disaster declared?	 Yes 
(provide FEMA declaration number)      	 No	
Were fire department or police called?	 Yes (submit a copy of the report(s))	 No	
Have you filed a claim with your insurance provider?	 Yes (submit a copy of the claim)	 No
Explain      	
NOTE: Minnesota Housing’s amortizing and deferred loans (except HOME Rental Rehab loans) require insurance policies to be endorsed with a standard mortgagee clause with loss payable to Minnesota Housing or has Minnesota Housing as a named insured. If you file a claim and receive a check from your insurance company, the appropriate person at your company must endorse the check and forward to Minnesota Housing. Insurance checks for properties with a Minnesota Housing amortizing loan will be deposited into an Insurance Proceeds escrow account. To release funds from this account, the owner must submit a draw request to Minnesota Housing’s assigned Asset Manager as repairs are made. Any balance remaining in the escrow account after repairs are made will be transferred to the property’s Residual Receipts escrow account or, upon owner’s request, to the development’s operating account. Contact your assigned Asset Manager with any questions. Insurance checks for properties that do not have an amortizing loan from Minnesota Housing will be endorsed by Minnesota Housing and returned to the owner.	
Are any residents displaced?	 Yes (describe where residents have been relocated, and the plan for their return)      	 No	
Does the property have a project-based Section 8 or Section 811 contract monitored by Minnesota Housing? 	 Yes (complete the next three items) 	 No 
(skip to Part II)	
Which of the affected units have project-based Section 8 or Section 811 subsidy?	     	 None	
Will any residents need to transfer to another unit within the property?	 Yes
Please list the transfers:      	 No	
Will any residents need to be housed at a different subsidized property (a pass-through lease may be needed)?	 Yes
Please list the units:      	 No	

Part II - Detailed description of damage and plan for repairs	
List (or attach a separate report with): 
1) the address of each affected building (include tax credit BIN(s), if applicable);
2) the unit number of each affected unit; and 
3) a description of the damage associated with each affected unit (indicate whether units are habitable or not habitable)	     	
List other affected areas and describe damage (indicate any areas that are not usable)	     	
Describe plan and timeline for repairs 	     	

Parts I and II completed by	     	Date      	
Email address	     		

Part III – Owner’s certification of repair completion	
I certify that all restoration work related to this casualty loss has been completed.  All units reported on Part II of this form are back in service.  
	
Date all restoration work was completed	      	
Was a certificate of occupancy issued?	 Yes (submit copy)
 No (submit photos of completed work)	

     
Legal Name of Property Owner

By: 		Date:      
Its:      
     
Print Name of Owner’s Authorized Signatory
     
Email address of Authorized Signatory

Important Reminders for Housing Tax Credit Properties: Under IRC Section 42(j)(4)(E), taxpayers are provided relief from the credit recapture provisions in the event of a casualty loss if the loss is restored within "a reasonable period established by the Secretary," which has been interpreted by the IRS to be up to two years following the end of the tax year in which the casualty loss occurred. Refer to CCA 200134006; also refer to IRC Section 165. This standard applies throughout the extended use period.

Minnesota Housing must file IRS form 8823 to notify the Internal Revenue Service of any casualty loss for Housing Tax Credit Properties that are within the 15-year compliance period.