The Minnesota Housing Finance Agency, in partnership with Greater Minnesota Housing Fund announces the availability of funds through the Consolidated Single Family Request for Proposals.
Donor Name: Minnesota Housing Finance Agency
State: Minnesota
County: All Counties
Type of Grant: Grant
Deadline: 07/13/2023
Details:
The Single Family RFP provides funding for the Community Homeownership Impact Fund (Impact Fund) and the Workforce and Affordable Homeownership Development Program.
Types of Programs
- Community Homeownership Impact Fund
- The Impact Fund program is the umbrella name for a variety of Minnesota Housing’s limited funding resources for single family housing, including the Economic Development and Housing Challenge Fund (Challenge), Workforce and Affordable Homeownership Development Funds, and other resources when available
- The goal of the Impact Fund is to increase the supply of affordable, owner-occupied, single family housing, while maintaining the safety and habitability of existing owner-occupied, single family homes in communities throughout Minnesota
- Workforce and Affordable Homeownership Development Program
- Minnesota Housing will also provide funding to preserve and increase the supply of workforce and affordable housing throughout Minnesota. Priority will be given to smaller projects located in Greater Minnesota, in suburban communities within the seven-county Twin Cities metropolitan area, for communities with populations of less than 10,000 or new construction projects.
Eligible Activities
- Community Homeownership Impact Fund
- Affordability Gap: Deferred loans or grants to homebuyers to cover the difference between the purchase price of a home and the first mortgage for which a homebuyer qualifies
- Owner-Occupied Rehabilitation: Deferred loans or grant to homeowners to cover the costs of home rehabilitation or to write down Community Fix Up interest rates
- Value Gap: Grants to administrators to cover the difference between the total development cost and appraised value of a unit
- New construction of single-family homes
- Acquisition, rehabilitation, resale of single-family homes
- Tribal Indian Housing Program (TIHP): Grants to TIHP administrators to recapitalize TIHP revolving funds
- Workforce and Affordable Homeownership Development Program
- New construction of single-family homes
- Acquisition, rehabilitation, resale of single-family homes
- Owner-occupied rehabilitation.
Eligibility Criteria
- Community Homeownership Impact Fund
- Local governments
- Housing and Redevelopment Authorities
- Nonprofit organizations
- For-profit organizations and private developers
- Indigenous housing corporations and Tribal governments
- Public housing agencies
- Joint powers boards established by two or more cities
- Workforce and Affordable Homeownership Development Program
- Tribal governments
- Nonprofit organizations
- Cities
- Cooperatives
- Community Land Trusts
For more information, visit Minnesota Housing Finance Agency .
