- Created: Wednesday, 30 November 2016 12:16
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.