The Affordable Housing Incentive Fund (AHIF) provides capital financing to create or preserve long-term affordable housing units throughout Hennepin County for very low-income households.
Donor Name: County of Hennepin
State: Minnesota
County: Hennepin County (MN)
Type of Grant: Grant
Deadline: 01/28/2025
Size of the Grant: $500,000 to $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
Financial assistance is provided to municipalities, other government and nonprofit agencies, private and nonprofit housing developers and other lenders in supporting the creation or preservation of long-term affordable housing countywide, typically in the form of a deferred low-interest loan. Affordable Housing Incentive Fund operates under the Hennepin County Housing and Redevelopment Authority (HCHRA) Board of Commissioners.
AHIF loans are used for a variety of housing activities, including:
- Rental
- New construction, substantial and moderate rehabilitation, and preservation
- Supportive
- Mixed-income
Housing activities can serve families, individuals, seniors and special needs populations. Type, terms and conditions of the AHIF financing will vary depending on the availability of funding resources and the proposed activity.
Funding Information
- Funds available through this RFP: $5 million
- Average estimated awards: $600K/project, $10K/unit.
Eligibility Criteria
Applicants may include government agencies, nonprofit organizations, housing developers or lenders. Financing may support acquisition, rehabilitation and new construction activities.
For more information, visit County of Hennepin.