Minnesota Equity Fund (MEF) works with for-profit and nonprofit developers to access tax credit equity financing for their developments, and offers letters of support for funding applications.
Details for Developers
Making Connections That Matter
MEF connects developers to investors interested in purchasing Low Income Housing Tax Credits (LIHTCs), Historic Tax Credits, and various Energy-Related Tax Credits. MEF is a joint venture of Greater Minnesota Housing Fund and Cinnaire, which are both nonprofit CDFIs (Community Development Financial Institutions) that are focused on the mission of creating and preserving affordable housing.
Types of Housing Developments
MEF invests in the following types of affordable housing:
- Supportive housing for disabled persons, veterans and their families, homeless youth, families with children, and long-term homeless
- Workforce housing
- Senior housing
- Historic preservation
- Mixed-use and mixed-income housing
- Rural development preservation, new construction, acquisition/rehabilitation, and historic adaptive reuse
Support for New Projects
The MEF team provides planning and technical assistance to communities, housing organizations, and developers throughout Minnesota to address affordable housing needs in a variety of diverse locations and contexts.
We have a proven track record of strong developer partnerships through business origination, due diligence, investment closing, and long-term asset management.
MEF seeks to invest in affordable housing projects in Minnesota, Wisconsin, Illinois, Indiana, Michigan, New Jersey, Pennsylvania, Delaware, and Maryland.
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.
Explore Our Companion Lending Products
Learn how GMHF helps communities and developers promote the creation of well-planned, mixed-income neighborhoods through a range of loan products.