1. Minnesota Housing Overview and Affordable Housing Plan
February 28, 2018

2. Our Mission: Housing is the foundation for success, so we collaborate
with individuals, communities and partners
to create, preserve and finance
affordable housing.

3. Our Role Independent agency established in 1971 Board of Directors
Annual Independent Financial Audit and Rating Agency Reviews
No state appropriations used for agency operating costs
State appropriations are 7-10% of overall agency program budget

4. Our Housing Continuum Homelessness Prevention Supportive Housing
Affordable Rental Housing
Affordable Homeownership
Prevent homelessness before it begins
Median annual income of households served: $9,000 - $12,000
Permanent supportive housing for households that need housing and services
Median income of households served: $9,000 - $10,000
New construction or acquisition and rehabilitation of affordable rental housing, including workforce housing
Preservation of existing affordable housing
Median income of households served: $9,000 - $40,000
First time homebuyer loans
Home improvement loans
Single family development
Median income of households served: $34,000 - $69,000

5. Affordable Housing Plan
Annual Planning Process for use of resources
Begins in May with public survey
Draft published annually in August
Reviewed by Board
Includes Public Comment Period
Final approved in September
Guide for program year (October 1 – September 30)

6. 2018 Affordable Housing Plan Objectives
Assess loss of Naturally Occurring Affordable Housing
Look for strategies to preserve and improve manufactured home parks
Improve our delivery network in rural parts of the state
Continue to address the homeownership gap

7. Sources of Funds
Source: 2018 Affordable Housing Plan

8. Sources of Funds Agency Amortizing Resources:
Used by rating agencies to determine credit rating
Must be used for investment grade loans that carry interest rates and are repayable
Agency Deferred Resources:
Can be used for deferred loans or grants
Used to supplement state and federal appropriations and balance rental and homeownership needs

9. Program Delivery
Resources provided through network of private delivery partners
Lenders
Developers/Property Managers
Social Service Providers
Programs accessed through a variety of delivery methods
Requests for Proposals, on-going funding
We do not own and operate any housing

10. Households Assisted by Program Area, 2017
Minnesota Housing | mnhousing.gov

11. Our Impact 69,267 households served in 2017
2,767 units of rental housing financed
4,035 mortgages, 32% to households of color
Median annual income of homebuyers assisted $54,349
$1.12 billion total resources allocated
62% of competitive funds awarded outside metro area

12. Commissioner Mary Tingerthal
Contact Information
Commissioner Mary Tingerthal
Ryan Baumtrog
Katie Topinka