Affordable housing incentive fund
This loan program funds the development of affordable housing units for very low-income households. Financial assistance is provided to municipalities, other government and nonprofit agencies, private and nonprofit housing developers and other lenders in supporting the creation or preservation of long-term affordable housing countywide. Affordable Housing Incentive Fund (AHIF) operates under the Hennepin County Housing and Redevelopment Authority (HCHRA) Board of Commissioners.
AHIF loans are used for a variety of housing activities.
- New construction, substantial and moderate rehabilitation, and preservation
Housing activities can serve families, individuals, seniors and special needs population. Type, terms and conditions of the AHIF financing will vary depending on the availability of funding resources and the proposed activity.
Program funding is part of an annual Coordinated RFP. The RFP is traditionally issued the first week in January and applications are due in February with a funding award announced in May.