Minneapolis-St. Paul-Bloomington, MN-WI Metro Area

Small and Medium Multifamily (SMMF) Loan Program Minneapolis

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Entities involved: City Government, Community Development Financial Institution (CDFI), Land Bank, Non-Profit Organization

Small and Medium Multifamily (SMMF) Loan Program is a partnership between the Land Bank Twin Cities, Inc. (“Land Bank”), Local Initiatives Support Corporation (“LISC”), and the City of Minneapolis. The goal of the program is to get community control over small-to medium multifamily (SMMF) buildings defined as 2-49 units in … Read more >

Green Cost Share Minneapolis

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Entities involved: City Government

The City of Minneapolis created the Green Cost Share connect property owners with a variety of energy savings programs including energy efficiency upgrades and solar installation. Multifamily rental property owners can apply for: The commercial and multifamily property owners with five units or more can apply for a City match … Read more >

NOAH Impact Fund Minneapolis, Saint Paul

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Entities involved: Community Development Financial Institution (CDFI)

Greater Minnesota Housing Fund, a statewide Community Development Financial Institution (CDFI), officially launched the NOAH Impact Fund in June 2017 with $25 million from seven impact investors to acquire 1,000 units of rental housing and maintain affordable rents for 15 years. The NOAH Impact Fund partners with socially motivated investors … Read more >

Low-Income Rental Classification (LIRC) Edina, Golden Valley, Minneapolis, Saint Paul, St. Louis Park

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Entities involved: State Housing Finance Agency (HFA)

Qualifying Properties are at least 20% of total units in the rental property must be affordable (Section 8, LIHTC, USDA, Rent restrictions placed by state, local, or federal government at or below 60% AMI). For qualifying properties, the eligible units use the 4d(1) tax class rate of .25%. The lower … Read more >