MHP Connect

New Energy for Renewables in Affordable Housing

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Created: Wednesday, 10 June 2015 13:00

Renewable energy, especially solar, is of great interest to affordable housing developers from both a financial sustainability and mission perspective. However, effective practices and financing systems are still emerging in Minnesota.

In May, the MHP Investors Council hosted a breakfast discussion focusing on alternative energy sources for affordable housing. Minnesota Housing Commissioner Mary Tingerthal moderated a thoughtful discussion about current projects, challenges in implementation, and the future of alternative energy in multifamily housing on both a statewide and national level. Panelists included Michael Bodaken from National Housing Trust, Gina Ciganik from Aeon, and Vihar Sheth from US Bancorp Community Development Corporation. More than 80 additional leaders representing the Investors Council and its guests, from all sectors of the affordable housing industry, participated in the event. 

Read more: New Energy for Renewables in Affordable Housing

May 2015 Minnesota Housing Board Meeting

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Created: Tuesday, 09 June 2015 14:10

At the May Minnesota Housing Finance Agency meeting, the board awarded funding to preserve affordable housing and approved plans and selections while staff reported on the Greater Minnesota Rental Rehab Demonstration Loan program and the homeownership capacity initiative. There was also an update on the legislative session and what Minnesota Housing could expect for funding in the special session. 

Read more: May 2015 Minnesota Housing Board Meeting

68 hours per week to afford 1-bedroom apartment: Out of Reach 2015

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Created: Tuesday, 19 May 2015 09:37

How many hours per week do hard-working Minnesotans need to work to afford rent? According to our new 2015 Out of Reach Minnesota report, a minimum wage worker in Minnesota must work 68 hours a week, 52 weeks a year to afford a typical one-bedroom apartment at fair market rent. For a two-bedroom apartment, 86 hours per week would be needed. The national Out of Reach is produced annually by the National Low Income Housing Coalition (NLIHC) with rental affordability data for every state, metro area, and county in the US. The Minnesota report is produced by MHP using NLIHC data. How does Minnesota compare to other states? What wages are required to afford housing? Read the report to find out how your county stacks up.

Newest Impact Spotlight features leadership and innovation at Urban Homeworks

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Created: Thursday, 14 May 2015 13:36

Written by Victoria Clark

Loan pools, POD’s, and collaboration. MHP’s newest Impact Spotlight features the leadership of Urban Homeworks and the vibrant set of development solutions the organization employs to overcome obstacle and rebuild community.

The Spotlight covers the organization’s innovative people-focused development model and the creative financial strategies that fuel the work. As Urban Homeworks’ story reveals, when these solutions are paired with a commitment to equity and a visionary drive, dramatic changes result in the community landscape: a housing stock is restored, a sense of hope is renewed, a community is reclaimed. 

Read more: Newest Impact Spotlight features leadership and innovation at Urban Homeworks