Funds awarded include first mortgages and allocation of tax credits in addition todevelopment, rehabilitation and rental assistance.
Local employer contributions and private investments allowed numerous projects to leverage funds in Minneapolis, St. Paul, Burnsville, Grand Portage, Alexandria, Hoyt Lakes, Duluth, Bemidji, Hutchinson, St. Louis Park, Winona, and several cities andcounties in the southwest region including Nicollet, Lyon, Martin, and Cottonwood counties.
In other projects, cities and towns waived fees or modified regulations in order to lower development costs.
With board approval, MHFA funded 11 developments and programs in Minneapolis, eight in St. Paul and 19 in suburban communities. In Minnesota, MHFA funded 22 developments and programs including eight multifamily and 11 homeownershipprojects, one tax credit allocation and two first mortgages.
The Minnesota Housing Finance Agency, together with the Family Housing Fund, the Greater Minnesota Housing Fund, the Metropolitan Council and others conduct two funding rounds per year. The state agency is focused on providing affordable housing.
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