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MN
Minneapolis Housing Tax Credits
Minneapolis allocates federal housing tax credits to finance affordable rental housing production and preservation projects.
About this program
The City of Minneapolis allocates federal low-income housing tax credits as one of the governing bodies of the Minneapolis-St. Paul Housing Finance Board. Developers use these credits to finance affordable rental housing projects, including new construction and rehabilitation, and credits can be sold to investors to raise project equity while reducing the project's tax liability for ten years.
Eligibility
Affordable rental housing owners and developers with eligible projects in Minneapolis may apply for 4% or 9% housing tax credits through the City's allocation process.
Requirements
- Project must be an eligible affordable rental housing project in Minneapolis.
- Project must follow the City's Qualified Allocation Plan and housing tax credit manual.
- Applicant must submit required application materials through the applicable 4% or 9% HTC process.