LIHTCs Bring Affordable Youth Housing to Affluent Minnesota Neighborhood
As the syndicator, Minnesota Equity Fund placed $3.3 million in 4 percent low-income housing tax credit (LIHTC) equity into a multi-investor fund operated by Cinnaire.
As the syndicator, Minnesota Equity Fund placed $3.3 million in 4 percent low-income housing tax credit (LIHTC) equity into a multi-investor fund operated by Cinnaire.
Finance & Commerce covers the launch of our $25 million NOAH Impact Fund, where housing providers will be eligible for assistance in acquiring multifamily complexes across the metro.
Higher Ground now provides shelter to more than 450 people, and includes 232 semi-private bunks and165 single room occupancy units of permanent housing for formerly homeless individuals.
The total cost includes $15.5 million in low income housing tax credits issued by the Minnesota Housing Finance Agency through a partnership with the Minnesota Equity Fund and with Cinnaire.
The plan for this project came out of the 18-month Housing Institute co-hosted by the Greater Minnesota Housing Fund and the Minnesota Housing Partnership.
The Star Tribune calls NOAH Impact Fund a "sensible addition to local affordable housing efforts...it can help preserve and expand decent, lower-cost places to live for thousands of people...."
Meet this family whose lives have been changed for the better thanks to GMHF's development and investment partners.
GMHF participated with technical assistance for the single-family development, downpayment funds, and a $288,000, 0% interest deferred loan to Parkway Townhomes.
GMHF has provided significant technical assistance and financial resources to the state's largest employer-assisted housing effort.
We invite you to explore these “20 great ideas” for a glimpse at the efforts Greater Minnesota Housing Fund has been fortunate enough to be a part of over the …