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GPSHJWFBCMF!EFGFSSFEMPBOT0 <br />HSBOU!GVOET <br />!!!!!!!!!Xpslgpsdf!Ipvtjoh!Efwfmpqnfou!Qsphsbn <br />Qsphsbn!Pwfswjfx <br />The Workforce Housing Development Program is a competitive funding program that targets small to mid-size cities in <br />Greater Minnesota with rental workforce housing needs. Grant funds or deferred loans are available to build market rate <br />residential rental properties in communities with proven job growthand demand for workforce rental housing. <br />Bqqmjdbujpo!Qspdftt <br />Applications are accepted on an annual basis through a competitive Request for Proposals (RFP). <br />Bqqmjdbujpo!Sfrvjsfnfout <br />Eligible Applicants:An eligible applicant is an eligible project areathat is generally a small to mid-sized cityin <br />Greater Minnesota. Specifically, an eligible project area is either: <br />Ahomerulecharterorstatutorycitylocatedoutsideofthemetropolitanareawitha <br />population exceeding500 <br />A community that has a combined population of 1,500 residents located within 15 <br />miles of a home rule charter or statutory city located outside the metropolitan area <br />An area served by a joint county-city economic developmentauthority <br />Preference will be given to projects located in an eligible project area with 30,000 or <br />fewer residents.Developers cannot apply for program funds directly;they must work <br />with an eligible applicant. <br />Eligible Properties:Market rate or mixed income residential rental properties.Per the statute, preference will <br />be given to projects with the highest percentage of market rate units. <br />Eligible Activities:New construction or adaptive reuse. Rehabilitation of occupied rental housing is not an <br />eligible activity under this program. <br />Letter of Support:Letter of support from a local business or businesses that employ a minimum of 20 full- <br />time employees in aggregate. <br />Matching Requirement:Applicants must match the funds requested,at a minimum,of one dollar for every two <br />dollars. A local government resolution stating the amount of committed matching funds <br />from the local government, a nonprofit organization, a business, or a combination, is <br />required. The match can come from sources such astax increment financing (TIF), tax <br />abatement, cash funds, grants, land donationsand in-kind donations. <br />Matching funds cannot come from the developer or an entity affiliated with the developer <br />unless otherwise approved in writing by Minnesota Housing. <br />Qualified Expenditures:Funds can only be used for qualified expenditures. Qualified expenditures include <br />acquisition of property; construction of improvements; and provisions of loans or subsidies, <br />grants, interest rate subsidies, public infrastructure and related financing costs. <br />911/768/4758 <br />xxx/noipvtjoh/hpw <br />