Development process for projects with gap funding

We outline the steps for submitting bids, getting permits, using gap funds and more.

Steps

Each project is unique. Your senior project coordinator will guide you through the process.
Step 1

Get started

Meet with the following staff members to review your project and get started.

  • Senior project coordinator for development assistance
  • Project coordinator
  • Construction management specialist

Related documents

Step 2

Prepare and submit bid documents

Submit these documents.

Related documents

Step 3

Complete due diligence

Prepare and submit other documents, including:

  • Construction contracts
  • Sworn construction statement
  • Insurance
  • Proforma
  • Proof of financial resources
  • Title commitment

Related documents

Step 4

Follow the plan review process

You need to go through the City's plan review process and get your building permits.

Step 5

Close on property and financing

Our staff will prepare two agreements for your signature.

  • Lot sale agreement
  • Gap funding agreement

The closing is scheduled after the agreements are signed.

Step 6

Begin construction

The project must be completed within:

  • 12 months of closing on the property 
  • 18 months of receiving City Council approval

During construction

Our construction management team will:

  • Monitor the project
  • Review change orders
  • Reimburse costs onsite, using gap funding
Step 7

Close with the homebuyer

  • Submit all final construction documents.
    • Certificate of Occupancy or Code compliance or Truth in Sale of Housing (TISH)
    • Final Home Energy Rating System (HERS) report
    • Final Enterprise green communities with Minnesota overlay
    • Final environmental reports
  • Schedule final construction management inspection site visit.
  • City provides certificate of completion to title company.
  • Collect and submit household income verification documents.

See income verification details in the housing development checklist Phase 4: Occupancy

 

Contact us

Minneapolis Homes

Community Planning and Economic Development (CPED)

Address

Public Service Building
505 Fourth Ave. S., Room 320
Minneapolis, MN 55415