NOAH Preservation Fund

Borrower requirements

Find income and rent limits for Multifamily Tax Subsidy Projects (MTSP) on Minnesota Housing’s website, look for Table R.

Visit the Minnesota Housing’s  website

NOAH affordability requirements

• At least 75% of units must be affordable for households earning under 80% of AMI.

• At least 20% of the affordable units must be for households earning under 60% of AMI.

Process requirements

Loan applicants must:

• Meet with our team before you submit a loan application.
• Commit to a fixed number of affordable units for a fixed time frame.

Loan terms

Terms

• Up to $35,000 per housing unit at or below 60% AMI
• Up to $40,000 per housing unit at or below 50% AMI
• 0% interest
• 10-30 year terms are available

Borrowers must pay back the loan in full at the end of the term.

How to apply

Get started

• Sign up to be on the NOAH Preservation Fund email list.
• We will email applicants before our application window opens.
• When you receive the email, contact us to set up a meeting to present your pro forma.
• If your project meets our guidelines, we'll email you an application link.

You should know

We give priority to applications for loans to preserve buildings:

• With a high number of affordable units at or below 50% AMI
• For more than 10 years
• Being bought by emerging developers connected to the neighborhood

Sign up to receive NOAH Preservation Fund emails

Contact the NOAH Preservation Fund team