MN Housing Board Update: Legislative session recap, 2020 QAP, Habitat for Humanity Revolving Credit Agreement and more
- Created: Thursday, 14 June 2018 01:54
- Written by Carolyn Szczepanski
At its May meeting, the Minnesota Housing Finance Agency board discussed amendments to the Affordable Housing Plan (AHP) for home mortgage and downpayment and closing cost loan programs; comments on and final recommended changes to the 2020 Qualified Allocation Plan (QAP); a revolving credit agreement with Habitat for Humanity; a waiver for Minnehaha Townhomes in Minneapolis; and a state legislative session recap.
In her opening remarks, Commissioner Mary Tingerthal shared excitement around the progress of the Governor’s Task Force on Housing, which has taken a wealth of input from work groups and regional forums and is starting to form recommendations that will be finalized, prioritized and published in a report at the end of July. Tingerthal expressed confidence that the task force will result in a significant body of work.
Tingerthal also noted that the Agency had been busy gearing up for annual request for proposals and winding down the final days of the state legislative session. While she bookmarked a more robust review of the session later in the meeting, she called the board’s attention to a provision in the bonding bill that could “impose significant restrictions on this board’s authority to allocate tax credits according to the Qualified Allocation Plan.” She emphasized that the Agency is reviewing what impacts, if any, it will have on the tax credit program, and would come back to the board with more information.