Affordable Housing Trust Fund

We help developers create more affordable rental housing in the city.

Financing for multifamily rental projects

  • The projects must meet our requirements
  • The funding covers capital costs.
  • We use a competitive process to award funding.

Watch a video for more details

Apartment building in Minneapolis

Awards, requirements and timeline


The Affordable Housing Trust Fund (AHTF) provides gap financing for multifamily rental projects with:

  • 10 units or more
  • 20% of the total projects units at 50% area median income (AMI) or less

The program funds capital costs for:

  • New construction projects
  • Preservation and adaptive reuse projects

Trust fund award

The trust fund award:

  • Is a deferred loan for a minimum of 30 years
  • Has a recorded Declaration of Affordable Housing Restrictions

The City awards funds for this program each year through a competitive Notice of Funding Availability (NOFA) process.



  • We release the AHTF NOFA.
  • Project applications due.


We underwrite, score and analyze project applications.


We make project award recommendations to the BIHZ Committee and City Council for approval.

Affordable Housing Trust Fund documents

You can view the proposed changes to the documents.

Contact us

Carrie Goldberg

Community Planning & Economic Development 




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