- Minnesota Equity Fund

Attachments
Appendix A
MEF Summary of Closed Syndications
Minnesota Equity Fund
Low Income Housing Tax Credit (LIHTC) Developments
A partnership of Greater Minnesota Housing Fund and Great Lakes Capital Fund
Project Name & Location
LIHTC Equity
(in millions)
Total
Devel.
Costs
# of
Units
% AMI Mix
Project Type
General Partner /
Developer
Attributes-Priority
Podawiltz Development
New Construction;
Families and 4 long term
homeless units
DW Jones Inc.
Preservation-Acq/Rehab:
RD, Project-based Section 8
Three Rivers Community
Action
New Construction;
Families
2013 MEF SYNDICATIONS
The Season's of
Ramsey
Ramsey, MN
$9.30
$9.62
50
Prairie Rose
Red Lake Falls, MN
$1.40
$1.72
16
Prairiewood
Townhomes
Faribault, MN
Steve O'Neil
Hillside
Apartments
Duluth, MN
Gilmore Estates
Jacksonville, IL
$6.30
$11.30
$2.80
$6.76
$12.87
$4.00
30
44
22
100% at or below 60% AMI;
Family Housing and Long
4 units at or below 30% AMI
Term Homeless
100% at or below 60% AMI
Family Housing
4 units are reserved for
permanent supportive
Housing for homeless
Family Housing and Long
families; 29 units at or below
Term Homeless
60% of AMI.
100% at or below 60% AMI
New Construction
100% of units have project
Supportive Housing for
based rental assistance
Families with Services for
allowing residents to pay no
Long Term Homeless.
more than 30% of income
Co Developers:
One Roof Community
Housing and Center City
Housing
Service Provider: CHUM
Property Mgt. DW Jones
Long Term Homeless;
New Construction; Families;
Special Needs Project
Windsor Development
Units are set aside for
Group & Morgan County
tenants earning 30-60% AMI. New construction targeted
New Construction; Very Low
Civic Services (MCCC)
Five units are supported with to low and very low income
Income Seniors; Section-8
(MCCC is a non-profit entity
Section 8 Rental Vouchers
seniors
Rental Assistance
of Morgan County Housing
Authority)
4/16/15
2014 MEF SYNDICATIONS
Commons @ Penn
Minneapolis, MN
*Ft. Snelling Vets
Ft. Snelling-Mpls-St.
Paul, MN
$4.20
$10.00
$10.77
$17.24
45
58
New Construction Mixed Use
Family and Workforce
Housing
Tenants at 60% AMI
Units are set aside for
tenants earning 30-60% AMI
VASH Vouchers on units
LIHTC & Historic Credits
Family Housing
New Construction
Historic Acq-Rehab
Supportive Housing for
Vets targeted Families
with Services for Long
Term Homeless.
Building Blocks, Inc.
Developer and Property
Manager:
CommonBond
Supportive Services:
CommonBond Advantage
Services and Depart of
Veterans Affairs
New Construction; Workforce
and Family Housing
Long Term Homeless;
Historic Acq-Rehab; Families;
Special Needs Project
2015 MEF SYNDICATIONS
Highland
Apartments
Willmar, MN
CLOSED FEB 2015
The Lonoke
Apartments
Minneapolis, MN
CLOSED APR
2015
LIHTC & Historic Credits
$2.00
$6.34
$3.01
78
Seniors aged 62+ and
Disabled Persons
Acquisition/Rehab
Housing Redevelopment
Authority of Kandiyohi
County, MN
Preservation-Acq/Rehab:
RD, Project-based Section 8
19
Supportive Housing with
Services for Long Term
Homeless and Mentally Ill.
Very Low Income,
Affordable to 30-50% AMI.
Supportive Housing for
Homeless
Historic Rehab.
Beacon Interfaith Housing
Collaborative
Historic Acquisition/Rehab;
Very Low Income and
Supportive Housing for
Homeless
Supportive Housing with
Services and Transition
Housing for Homeless
Vets
Community Housing
Development Corporation
New Construction; Very Low
Income and Supportive
Housing for Homeless
Veterans
Center City Housing
Corporation
New Construction;
Supportive Housing for
Homeless Youth
$5.62
$14.25
100
New Construction
Supportive Housing and
Transition Housing for
Homeless Vets
Very Low Income, 30-50%
AMI
Rochester Youth
and Families
Rochester, MN
Proj Close Aug
2015
$3.19
$11.38
55
New Construction
Supportive Housing, 60%
AMI
Supportive Housing with
Services for Homeless
Youth
Beacon Hill
Grand Rapids, MN
Proj Close July
2015
$2.60
$9.00
47
New Construction
Supportive Housing, 60%
AMI
Supportive Housing with
Services for Families,
Homeless and Elderly
Persons
Veteran's East
Minneapolis, MN
Proj Close Sept
2015
TOTALS:
$4.10
Preservation Senior and
Disabled Persons Project
Targeted to persons with
60% AMI
$62.81
564
Housing Redevelopment
New Construction;
Authority of Itasca County,
Supportive Housing for
MN and Northland
Family, Homeless and Elderly
Counseling/DW Jones
4/16/15