MHP Connect

MN Housing board update: Tax exempt bonding and marketing homeownership lending

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Created: Friday, 30 December 2016 11:45

Written by Carolyn Szczepanski

During its December meeting, the board of the Minnesota Housing Finance Agency (MHFA) dedicated most of its discussion to tax exempt financing, while also providing updates on the federal tax credit program, the state's allocation from the National Housing Trust Fund, the Agency's outreach and feedback regarding changes to the 4 percent tax credit and marketing of the Agency's Homeownership Lending Program.

National Housing Trust Fund

Commissioner Mary Tingerthal opened the meeting reporting that HUD had given final approval for the Agency’s plan to use its allocation from the National Housing Trust Fund. In the first year of their availability, these funds are being awarded to the Southwest MHP Solace Apartments development in Saint Peter. (Read our blog about the Solace project here.)

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MHP welcomes three new board members

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Created: Wednesday, 21 December 2016 15:57

Written by Laura Proescholdt

MHP is excited to ring in the New Year with three new board members: Jacqueline Ann Dionne from the Minnesota Department of Health, Tony Schertler of the Dakota County Community Development Agency, and Jim Wabindato from the Indian Land Tenure Foundation. “MHP is fortunate to be led by many of the state’s top leaders in affordable housing and community development,” said Chip Halbach, MHP's Executive Director. “Tony, Jim, and Jackie are very accomplished individuals and will bring a wealth of experience to the board.”

As the organization continues to expand its work with Native communities in Minnesota and beyond, the perspectives and insights of Wabindato and Dionne will be critical.

“MHP is working in more and more Native communities, and having board members who can help guide and support the work we do is essential,” said Rosemary Fagrelius, MHP's Deputy Director and Community Development Director. “We will be looking to them for guidance as we deliver technical assistance to American Indian communities through programs like the Native Communities Development Institute. It is a huge asset to have Native voices on our board.”

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Solace Apartments aim to create housing that reduces recidivism

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Created: Monday, 05 December 2016 11:35

Written by Carolyn Szczepanski

The impetus for the Solace Apartments came from an unlikely champion.

Three years ago, the Honorable Allison Krehbiel raised the alarm. The Judge for the Fifth Judicial District Court in Nicollet County (pictured right) was watching rehabilitated residents exit the criminal justice system and enter a housing market that made it nearly impossible for them to find a home.

With virtually no vacancy in the primary cities of St. Peter and Mankato, people with criminal backgrounds simply couldn’t compete. Instead, they ended up couch surfing or living in their vehicles, creating unstable lifestyles for their families and, all too often, paving a direct path to recidivism.

Krehbiel knew something had to change — and fast. So she contacted Rick Goodemann, CEO of Southwest Minnesota Housing Partnership.

“Judge Krehbiel asked me what I intended to do about this problem,” Goodemann recalls with a laugh. “That’s how it started.”

Three years later, that call to action has resulted in Solace Apartments, 30 units of affordable housing with supportive services for people at high risk of homelessness who have mental health and/or substance abuse challenges. While the vision is far from complete, last month the ground-breaking project in St. Peter received $6.7 million in funding from the Minnesota Housing Finance Agency. Adding shine to its award, the project secured the state’s first allocation from the National Housing Trust Fund — and is being heralded as a national model already.

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MN Housing board update: Proposed tax credit changes pushed to 2018

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Created: Wednesday, 30 November 2016 12:16

Written by Laura Proescholdt

During its November meeting, the board of the Minnesota Housing Finance Agency (MHFA) dedicated most of its discussion to proposed changes to the 2017 and 2018 Qualified Allocation Plan (QAP) and the public’s response to those changes. The board also considered the history, governance, and use of tax exempt bonding authority.

Commissioner Mary Tingerthal opened the meeting by stating that many of the projects recently approved for funding through the Consolidated RFP are moving forward with their project launch (intake) meetings. Not going as well, she continued, is the reception to a set of proposed changes to 2017 and 2018 QAP, suggested by the Agency in October. QAPs establish the criteria for awarding federal Low Income Housing Tax Credits. Tingerthal acknowledged opposition to the proposed changes, as some saw the changes as the Agency stopping projects mid-track. Tingerthal said that Agency staff now recommends that it forgo the changes to the 2017 QAP, and take more time in listening to concerns regarding the proposed changes for the 2018 QAP.

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