Housing Revenue Bond Program
Housing Revenue Bonds and Tax-exempt Mortgage Notes may be used to finance the acquisition and rehabilitation or new construction of owner-occupied or renter-occupied residential units where the intended occupants of the units qualify the Project for tax-exempt status in conformance with the Internal Revenue Code, the Statutes of the State of Minnesota and the City Ordinances.
Statutory and regulatory requirements must be met to assure tax-exempt status. Financial and legal counsel with expertise in tax-exempt obligations and real estate is required.
NOTE: Guidelines and priorities have been developed for applicants seeking Minneapolis housing revenue entitlement allocation bonds for the 2017/2018 allocation year. These guidelines and priorities are incorporated into the Housing Revenue Bonds Application Procedural Guide for 2017.
Last updated Sep 28, 2017