Low Income Housing Tax Credit - 2019 Application Materials
The deadline for 2019 applications is Thursday, August 23, 2018 at 4:00 p.m.
The Federal Low-Income Housing Tax Credit program offers a reduction in the tax liability to owners and investors in eligible low-income new construction, rehabilitation and/or acquisition of existing rental buildings. The City of Saint Paul's Housing and Redevelopment Authority (HRA) is accepting applications for the 2019 program, now through Thursday, August 23, 2018 at 4:00 p.m.
The HRA is anticipating an allocation of up to $982,759, which includes an additional 2018 Credit allocation, of Low-Income Housing Tax Credits (9 percent credits) for 2019.
No late proposals will be accepted. All applications, including those mailed, must be received by 4 p.m. on August 23, 2018 to be considered for this program. The HRA reserves the right to reject any or all proposals.
Application Materials and Procedures for 4% Credits
NOTE: The 4 percent credit application process is new for 2019.
The Saint Paul HRA now requires a separate application process for 4% Credit Applications.
For more information, please consult the 2019 Low Income Housing Tax Credit Procedural Manual and 2019 Low Income Housing Tax Credit - Qualified Allocation Plan.
Application Materials and Procedures for 9% Credits
To make an application for the 9 percent credits, it is essential that applicants read the Low-Income Housing Tax Credit Procedural Manual, Qualified Plan, and the requirements for all Exhibits before submitting an application. The Procedural Manual, Qualified Plan, and Exhibits may be picked up at the address listed below or printed directly from files as noted. Interested developers should review the 2018 LIHTC Manual, Qualified Allocation Plan, and all additional materials as follows:
For the Minnesota Housing Multi-Family Rental Common Application, click here.
Common Forms for all Funding and Collaborating Partners:
- 2019 Low-income Housing Tax Credit Manual
- 2019 Qualified Allocation Plan (Exhibit A)
- Qualified Census Tracts (Exhibit C)
- Map of Qualified Census Tracts and Areas of Concentrated Poverty
- Self-Scoring Worksheet (Exhibit E)
- Determination of Tax Credit (HTC-8) (Exhibit I)
- Rent and Income Limits (Exhibit O)
- Agreement to Utilize Public Housing Waiting List (HTC-11) (Exhibit J)
- Opinion of Counsel - Application (Exhibit B)
- Zoning Letter - Sample (Exhibit K)
- Previous Participation - (Exhibit L)
- Project Team Resumes (Exhibit M)
- Affirmative Fair Housing Marketing Plan (AFHMP) - Multifamily Housing (HUD-935.2A) (Exhibit Z)
- Equal Employment Opportunity Policy Statement - (Exhibit AA)
Reference documents are also available for carryover agreement, placed in service, and additional LIHTC exhibits:
- Opinion of Counsel Regarding Carrover Application (Exhibit D)
- Transfer of Interest Form (HTC-27) (Exhibit N)
- Declaration of Land Use Restrictions Covenants (Exhibit R)
- Building Map (HTC-28) (Exhibit S)
- Final Cost Certification (HTC-9) (Exhibit T)
- Final Cost Certification Statement (HTC-9) (Exhibit T)
- Application for Issuance of IRS 8609 Owner Certification (HTC-3) (Exhibit U)
- 8609 Application (HTC-3A) (Exhibit U)
- Statement of Election of Gross Rent Floor Bond-Financed (HTC-34) (Exhibit W)
- Statement of Election of Gross Rent Floor Competitive Cap (HTC-26) (Exhibit W)
- Election of Applicable Percentages
- Opinion of Counsel - Placed in Service (Exhibit Y)
- 2019 Additional LIHTC Exhibits
- Request for Approval to Transfer Ownership or change Owner name or status (MHFA-1043125)
Saint Paul Sustainable Building Policy
All new construction projects reviving more than $200,000 in public investment must comply with Saint Paul Sustainable Building Policy.
Projects that receive less than $200,000 or less must comply with the sustainable development standards known as the PED/HRA Sustainability Initiative.
Land Use Plan
The Land Use Plan of the Saint Paul Comprehensive Plan can be found here.
Initial Application Fee
An application fee made payable to Saint Paul Housing and Redevelopment Authority must also be submitted with the application. Applications submitted by for-profit developers shall be subject to an application fee of $700 or $30 times the number of units of the proposed developments with a maximum of $2,000 whichever amount is greater. The fee for applications submitted by non-profit developers shall be equal to $700. The application fee in either event is non-refundable.
Allocation Upon Receipt of Award
If a project is awarded an allocation of tax credits, the recipient will be required to submit a nonrefundable Allocation Fee made payable to the Saint Paul Housing and Redevelopment Authority in an amount equal to 1.5% of the tax credit allocation award. Allocation fees will also be required for a Carryover Agreement, if needed, and the issuance of the IRS Form 8609.
The applicant shall also pay at the time a Special Counsel Fee in the amount of $3,500 for the review of the application materials. The applicant shall also pay a Special Tax Counsel not to exceed $3,500 at the time of each review for (1) a carry forward allocation and/or (2) a final allocation.
The MHFA now requires that a Suballocator who fails to meet deadlines established by MHFA for the submission of required documents relating to allocation or commitments, carryover, issuance, and allocation reporting shall pay the fees established in the MHFA Qualified Allocation Plan. Consequently, HRA, as a Suballocator, will also require that developers be responsible for meeting the deadlines related to its project and for payment of any related late fees. Upon request, all proposed applications and guideline materials can also be picked up at:
Saint Paul Planning and Economic Development Department
1100 City Hall Annex,
25 West Fourth Street,
Saint Paul, MN 55102.
Application Submission Requirements
Please submit one (1) original and two (2) copies of the application, inlcuding an electronic (flash drive) copy to:
Saint Paul Planning and Economic Development Department
1100 City Hall Annex, 25 West Fourth Street
Saint Paul, MN 55102
Qualified 501(c)(3) and 501(c)(4) nonprofit organizations are eligible to apply for low-income housing tax credits with HRA and/or with the Minnesota Housing Finance Agency (MHFA) through the Metro Twin Cities Area nonprofit set-aside pool. To make application for tax credits with MHFA, please call 651-297-3294. Please note that, though it is not anticipated, these materials are subject to change without notice.
Please note that, though it is not anticipated, these materials are subject to change without notice.