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.

Rental

Homeownership

New construction, substantial and moderate rehabilitation, and preservation

Transitional

Supportive

Mixed-income

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 request for proposals (RFP). Hennepin County has released the Spring 2019 RFP. Up to $3.5 million will be available this round, with applications due February 7, 2019.

There is a new application process and RFP respondents will be asked to complete applications using the Hennepin County Supplier Portal.

Applying for AHIF

The AHIF application process is timed to coincide with other Hennepin County funding programs as a coordinated effort to maximize county resources.

Project criteria and selection

AHIF loans are awarded on a competitive basis, and priority is given to the following goals.

Develop long-term affordable housing units for very low-income households.
Support project aligning with county priorities and goals.
Promote the connection of affordable housing to transit, local employment opportunities, schools and supportive services.
Utilize for gap financing to leverage private and public funding.