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MN
Minneapolis Homes Financing Program
Minneapolis provides zero-interest deferred development financing for one- to 20-unit affordable ownership housing projects.
About this program
The Minneapolis Homes Financing Program provides development assistance for affordable ownership housing projects of one to 20 units in Minneapolis. Financing can cover project gap and affordability gap costs, with project gap forgiven upon completion and affordability gap secured through recapture or perpetual affordability mechanisms, helping developers produce affordable ownership opportunities on City-owned, vacant, or privately controlled sites.
Eligibility
Developers and development teams proposing eligible one- to 20-unit affordable ownership housing projects in Minneapolis may apply through the City's NOFA process.
Requirements
- Project must be located in Minneapolis and include one to 20 ownership housing units.
- Project must not involuntarily displace tenants.
- Applicant must submit a proposal through the City's Notice of Funding Availability process.