The Housing and Redevelopment Authority (“Saint Paul HRA”) of the City of Saint Paul is accepting applications for the American Recovery and Reinvestment Act of 2009 (the Act)’s Tax Credit Assistance Program (TCAP) funds and the Section 1602 Tax Credit Exchange Program (Exchange Program) to facilitate the development of projects that have or will receive Housing Credits between October 1, 2006, and September 30, 2009.
The Act requires that the Saint Paul’s selection process and criteria was made available
for public comment, and that Saint Paul HRA give priority consideration for funding to projects that are anticipated to be completed by February 16, 2012.
On behalf of the Minneapolis/Saint Paul Housing Finance Board, the Saint Paul HRA will receive a portion of the State's allocation based on a Minnesota Statutory formula for tax credits to administer the TCAP and Exchange Programs. The TCAP distribution for Saint Paul is: $2,410,081.
APPLICATION MATERIALS AND PROCEDURES
DEADLINE: All application, including those mailed, must be received no later than 4:30 p.m. Friday, July 31, 2009.
NO LATE PROPOSALS WILL BE ACCEPTED. THE SAINT PAUL HOUSING AND REDEVELOPMENT AUTHORITY RESERVES THE RIGHT TO REJECT ANY OR ALL PROPOSALS.
TCAP and Section 1602 Tax Credit Exchange: Selection Process, Selection Criteria, and Application Submission Requirements:
TCAP and Exchange Self Scoring Worksheet
Sustainable Development Standards: known as the Minnesota Overlay developed in coordination with Green Communities (Exhibit AA) (new construction projects)
All proposed applications and guideline materials can also be picked up at the
Saint Paul Planning and Economic Development Department, 1300 City Hall Annex,
25 West Fourth Street, Saint Paul, MN 55102.
APPLICATION SUBMISSION REQUIREMENTS
Please submit one original and two (2) copies of the application to:
Saint Paul Planning and Economic Development Department
1300 City Hall Annex
25 West Fourth Street
Saint Paul, MN 55102
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