MHP Connect

Housing Tax Credits up for extension - take action

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Created: Wednesday, 02 December 2015 14:52

Written by Victoria Clark

The Senate Finance Committee, House Ways and Means Committee, Congressional and White House leadership are finalizing details on legislation that would extend dozens of expired tax provisions either temporarily or permanently before the December 11 deadline.

Take action today to influence the bill in support of permanent 9 and 4 percent minimum housing credit rates.

Read more: Housing Tax Credits up for extension - take action

MN Housing Board funds manufactured home co-ops, reports on Affordable Housing Plan

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Created: Tuesday, 01 December 2015 16:21

In her opening remarks at the Agency's November Board meeting, Commissioner Tingerthal announced that Tom O’Hern had been hired as the agency’s general counsel. O’Hern had been supporting the Agency’s board from his position on the Attorney General’s staff. Tingerthal added that, going forward, the Agency will end this direct staffing arrangement with the Attorney General and will add additional legal positions to its staff. The Agency is now recruiting an attorney to focus on multifamily transactions. The Attorney General’s staff will still handle lawsuits and complaints directed at the Agency, such as the current one concerning fair housing, and will be available if the board seeks its own representation. 

Read more: MN Housing Board funds manufactured home co-ops, reports on Affordable Housing Plan

MHP-Kirwan Institute Report: Fair housing and equity in rural regions

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Created: Tuesday, 17 November 2015 05:36

Written by Chip Halbach

What do fair housing and equity mean outside the urban core such as in rural areas without visible concentrations of race and poverty?  In the rural regions where MHP worked as a capacity-builder under the Sustainable Communities Initiative, HUD grantees struggled with this question as they faced a requirement to conduct a “fair housing and equity assessment."

The lessons learned by MHP partners from addressing this question are especially relevant as the United States Department of Housing and Urban Development (HUD) implements a set of new requirements for Affirmatively Furthering Fair Housing for all HUD funding program recipients.  

Read more: MHP-Kirwan Institute Report: Fair housing and equity in rural regions

MN Housing underscores increased commitment to Greater MN and metro suburbs in 2015 awards

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Created: Tuesday, 10 November 2015 13:07

Written by Victoria Clark

Last month, Minnesota Housing awarded $92 million for affordable housing development projects across the state. These investments will finance new construction and rehabilitation of single family and multifamily housing projects, increasing affordable housing options for Minnesota families.

$92 million of investment in affordable housing will have a significant impact for the over 120,000 cost-burdened Minnesota families (those spending 30% or more of their annual incomes on housing). However, there was a significant reduction this year in total funding awarded to multifamily projects due to a reduction in Housing Infrastructure Bond (HIB) proceeds and Housing and Job Growth Initiative funding. The reduction in HIB funding also means projects will leverage $61 million less in private equity from four percent tax credits this year as compared to last year. Accordingly, Minnesota Housing will fund 1,090 units this year compared to 3,423 units in 2014.

Read more: MN Housing underscores increased commitment to Greater MN and metro suburbs in 2015 awards