Minnesota Equity Fund
Minnesota Equity Fund (MEF) is a tax-credit syndicator that pairs investors and developers to create and preserve affordable housing. This program has invested over $300 million in more than 55 developments with about 3,000 affordable apartments.
Home > Minnesota Equity Fund
Strategic Investments in Affordable Housing
MEF is a social enterprise that raises equity capital from corporations and banks to invest in well-designed, high-quality, safe, and sustainable affordable housing projects throughout Minnesota and in other target markets. This joint venture from Greater Minnesota Housing Fund and Cinnaire provides investors with a competitive economic and social return while helping create and preserve affordable housing.
What Are MEF Goals?
The goals of the Minnesota Equity Fund are to:
- Address local affordable housing production and preservation goals
- Offer corporations doing business in Minnesota the opportunity to invest in local community development
- Improve access to equity capital for developers and conserve public and charitable subsidies
- Foster a robust tax credit investor market
- Be solution oriented, responsive, and offer best-in-class investor servicing
How Does MEF Work?
MEF is a tax credit syndicator and joint venture of Greater Minnesota Housing Fund & Cinnaire. We syndicate Low Income Housing Tax Credits (LIHTC), Historic Tax Credits, and various Energy Related Tax Credits.
LIHTC is the primary federal program for producing and preserving affordable housing. Some advantages to investment in LIHTC projects include:
- Historically, a safe real estate investment
- For corporations with a projected federal income tax liability, a tax efficient investment vehicle that’s CRA eligible
- A double bottom line of both market return and the social impact of stable, affordable housing
Invest in MEF
MEF provides investors with a competitive economic return and the social impact of helping create and preserve safe, high-quality, energy efficient, affordable housing.
With GMHF and Cinnaire as strategic partners, MEF investors can rely on:
- Mission-oriented partnerships and investments
- Long-standing developer relationships
- Exceptional fund and asset management
- Strict compliance monitoring (SEC, HUD and IRS)
MEF expands access to equity for developers, improves pricing, and conserves public and charitable subsidies, as well as creating a more robust tax credit investor market.
Access MEF Equity
We support developers and owner-operators in Minnesota looking to provide affordable housing in their communities by fostering a range of developments.
Contact MEF staff if you are planning to develop or preserve affordable housing using the LIHTC program. We offer technical assistance and support for developers who seek to provide affordable housing in their communities.
Find Your Path
Are you an investor interested in MEF?
MEF offers both an economic and social return of helping create safe, energy efficient, affordable housing.
Are you a developer seeking tax credit equity financing?
MEF invests in mixed-use housing, low-income senior housing, historic preservation, and more.
Do you work in the housing sector and need MEF resources?
Learn more about how LIHTC works and resources to help you use LIHTC for your project.
News
Learn more about projects supported by the Minnesota Equity Fund.
Reach Out to Learn More
John Errigo
John Errigo
Managing Director of Equity Investing & NOAH Fund Manager
John directs the work of our subsidiaries — the Minnesota Equity Fund and NOAH Impact Fund.
Paul Marzynski
Paul is an Investment Officer for GMHF subsidiaries Minnesota Equity Fund and NOAH Impact Fund. In this role, he is responsible for working with developers, owner-operators, strategic partners, state and local agencies, and other organizations to assess project viability while working toward closing on approved, funded projects.
Paul has over 25 years of real estate experience with a focus on financing, development, and asset management of affordable multifamily developments. Previously, he was a Senior Multifamily Underwriter for Minnesota Housing, having also worked for Dougherty Mortgage, Stonebridge Companies, and Dominium.
Paul has a Master’s in real estate and finance from the University of Wisconsin–Madison.
Paul Marzynski
Investment Officer
Paul works with developers, owner-operators, and other parties to assess project viability.
Dusty Reese
Dusty is an Investment Officer for GMHF subsidiaries Minnesota Equity Fund & NOAH Impact Fund. He is responsible for working with developers, owner-operators, strategic partners, state and local agencies, and other organizations to assess project viability and work to close funded projects.
Dusty is experienced in affordable housing lending and investor relations. Prior to joining GMHF, Dusty held various positions with Enterprise Housing Credit Investments and Rocky Mountain Community Reinvestment Corporation.
Dusty has a Bachelor of Science in English from Utah Tech University.
Dusty Reese
Investment Officer
Dusty works with developers, owner-operators, and other parties to assess project viability.
Interested in Other Investment Opportunities?
We connect socially driven investors with innovative developers. When you work with GMHF to put your money into affordable housing, families thrive, individuals are healthier, and children achieve better educational outcomes.