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Low Income Rental Housing Tax Credit
Public Notice Request for Applications Year 2013 Low-Income Rental Housing Tax Credit

The Housing and Redevelopment Authority (HRA) of the City of Saint Paul is accepting applications for the 2013 Federal Low-Income Housing Tax Credits for eligible rent housing developments located within the boundaries of the City of Saint Paul.  The program offers a reduction in the tax liability to owners and investors in eligible low-income new construction, rehabilitation and/or acquisition of existing rental buildings. The HRA is anticipating an allocation of $989,035 of Low-Income Housing Tax Credits in 2013.

NOTE:  Regarding ongoing Compliance requirements, the HOUSING TAX CREDIT
PROGRAM COMPLIANCE MANUAL as well as other relevant tax credit compliance
information is currently available at Affordable Housing Connections at www.ahcinc.net.


Year 2012 Low-Income Housing Tax Credit Application Materials and Procedures

Deadline


All applications, including those mailed, must be received no later than 4:30 p.m. Friday, August 3, 2012.

NO LATE PROPOSALS WILL BE ACCEPTED. THE SAINT PAUL HOUSING AND REDEVELOPMENT AUTHORITY RESERVES THE RIGHT TO REJECT ANY OR ALL PROPOSALS.

Application Materials

To make an application, it is essential that applicants read the Low-Income Housing Tax Credit Procedural Manual, Qualified Plan, and the requirements for all Exhibits before submitting an application. The Procedural Manual, Qualified Plan, and Exhibits may be picked up at the address listed below or printed directly from files as noted. Interested developers should review the 2013 LIHTC Manual, Qualified Allocation Plan, and all additional materials as follows:

Saint Paul Sustainable Building Policy

Upon request, all proposed applications and guideline materials can also be picked up at the Saint Paul Planning and Economic Development Department, 1200 City Hall Annex, 25 West Fourth Street, Saint Paul, MN 55102.

Application  Fees

Initial Application Fee

An application fee made payable to Saint Paul Housing and Redevelopment Authority must also be submitted with the application. Applications submitted by for-profit developers shall be subject to an application fee of $700 or $30 times the number of units of the proposed developments with a maximum of $2000, whichever amount is greater. The fee for applications submitted by non-profit developers shall be equal to $700. The application fee in either event is non-refundable.

Application Fee Upon Receipt of Award

At such time, a project is awarded an allocation of tax credits, the application will be required to submit payment of a nonrefundable Reservation Deposit made payable to the Saint Paul Housing and Redevelopment Authority in an amount equal to 1.5% of the tax credit allocation award. The applicant shall also pay at the time a Special Counsel Fee in the amount of $3,000 made payable to Briggs and Morgan for review of the application materials. The applicant shall pay additional fees of Special Tax Counsel not to exceed $3,000 at the time of each review for (1) a carry forward allocation and/or (2) a final allocation.

Other fees

Minnesota Housing Finance Agency (MHFA) now requires that a Suballocator who fails to meet deadlines established by MHFA for the submission of required documents relating to allocation or commitments, carryover, issuance, and allocation reporting shall pay the fees established in the MHFA Qualified Allocation Plan. Consequently, HRA, as a Suballocator, will also require that developers be responsible for meeting the deadlines related to its project and for payment of any related late fees.


Application Submission Requirements
Please submit one original and three (3) copies of the application to:

Joseph Collins
Saint Paul Planning and Economic Development Department
1200 City Hall Annex
25 West Fourth Street
Saint Paul, MN 55102

Qualified 501(c)(3) and 501(c)(4) nonprofit organizations are eligible to apply for low-income housing tax credits with HRA and/or with the Minnesota Housing Finance Agency (MHFA) through the Metro Twin Cities Area nonprofit set-aside pool. To make application for tax credits with MHFA, please call (651) 297-3294.

Please note that, though it is not anticipated, these materials are subject to change without notice.

For more information, please call Joe Collins at 651-266-6020 or email questions to e-mail

Updated June 18, 2012

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