Title
Resolution Endorsing Proposed Changes to the Minneapolis/Saint Paul Housing Finance Board’s 2026-2027 Low Income Housing Tax Credit Procedural Manual and its 2026-2027 Qualified Allocation Plan; Citywide.
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WHEREAS, the Federal Tax Reform Act created Low Income Housing Tax Credits (“Credits”) to encourage the production of affordable low-income rental housing; and
WHEREAS, the Minneapolis/Saint Paul Housing Finance Board (“Housing Finance Board”) is authorized to allocate Credits for the City of Saint Paul for the 2026 and 2027 calendar years; and
WHEREAS, the Housing Finance Board must annually publish a Credit Procedural Manual and a Credit Qualified Allocation Plan which establishes the selection criteria for the distribution of the 2026 and 2027 tax credits; and
WHEREAS, the staff of the Housing and Redevelopment Authority (“HRA”) of the City of Saint Paul, Minnesota recommends proposed changes to the Housing Finance Board’s Low Income Housing Tax Credit Procedural Manual and its Low Income Housing Tax Credit Qualified Allocation Plan for the years 2026 and 2027 to be considered for endorsements by the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota with the final adoption by the Minneapolis/Saint Paul Housing Finance Board as referenced by the HRA Board staff report, dated May 14, 2025.
NOW THEREFORE, BE IT RESOLVED, that the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, upon its review, endorses and approves the proposed changes to the Housing Finance Board’s 2026-2027 Low Income Housing Tax Credit Procedural Manual and its 2026-2027 Low Income Housing Tax Credit Qualified Allocation Plan as set forth in the HRA Board staff report, dated May 14, 2025.