Minnesota Housing Initiatives
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Single Family and Mulitifamily Applications for Funding
Neighborhood Stabilization Program (NSP)
In response to the drastic increase in foreclosures and the impact of the subprime lending environment on housing, Congress authorized the Neighborhood Stabilization Program (NSP) under Title III of Division B of the Housing and Economic Recovery Act (HERA) signed by the President July 30th, 2008. NSP provides emergency assistance for the redevelopment of abandoned and foreclosed homes. NSP Funding Applications closed in January 2009.
Single Family Homes Division Applications for Funding
Single Family Request for Proposal (CRV)
Applicants may request funds for single-family, owner occupied affordable housing activity statewide from multiple funding partners under one application. The next Single-Family RFP is now available.
Minnesota Urban and Rural Homestead Program (MURL)
MURL provides homeownership opportunities to homebuyers who will assist in stabilizing declining neighborhoods. Minnesota Housing is currently restructuring the program and applications for funding are closed at this time.
Homeownership, Education, Counseling and Training Fund (HECAT)
The Homeownership Education, Counseling and Training Fund (HECAT) provides financial support to eligible non-profit organizations to deliver a variety of homebuyer/homeowner education, counseling and training services to Minnesotans'. Applications are solicited annually in the spring and funded in the fall.
Minnesota City Participation Program (MCPP)
Minnesota Housing sells mortgage revenue bonds on behalf of cities to meet locally identified housing needs. The proceeds of these bonds provide below-market interest rate home mortgage loans for low-and moderate-income first-time homebuyers.
Multifamily Development Funding
Minnesota Multifamily Rental Housing Common Application
Minnesota Housing, its funding and collaborating partners, in an effort to eliminate duplication and simplify the financial packaging process, provide a common application to be used for multifamily rental housing projects seeking more than one funding source.
Housing Tax Credits
Minnesota Housing was designated by the Minnesota Legislature as the primary allocating Agency of Housing Tax Credits (HTC) in Minnesota. Qualified local cities and counties have also been designated by the Legislature as suballocators of the HTC.
Family Homeless Prevention and Assistance Program
The 1993 Minnesota Legislature established the Family Homelessness Prevention and Assistance Program (FHPAP) to assist families with children, youth/unaccompanied youth, and single adults who are homeless or are at imminent risk of homelessness. Funds are used for a broad range of activities aimed at homelessness prevention, minimizing episodes of homelessness, and eliminating repeat episodes of homelessness. Each project designs its own service delivery system to achieve these goals, using approaches that make sense at the local community level. The program supports continuing innovation and development of a comprehensive system to address homelessness, with an emphasis on prevention.
Rental Rehabilitation Loans
6% interest rate loan established to assist owners of smaller rental properties in Minnesota in financing improvements to their investment properties.
HOME Rental Rehabilitation Program
0% deferred loan established to rehabilitate privately-owned residential rental property, occupied by lower income persons or families.
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