Affordable housing incentive fund

The Affordable Housing Incentive Fund (AHIF) 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, typically in the form of a deferred low-interest loan. Affordable Housing Incentive Fund operates under the Hennepin County Housing and Redevelopment Authority (HCHRA) Board of Commissioners.

AHIF loans are used for a variety of housing activities, including:

• Rental
• New construction, substantial and moderate rehabilitation, and preservation
• Transitional
• Supportive
• Mixed-income

Housing activities can serve families, individuals, seniors and special needs populations. Type, terms and conditions of the AHIF financing will vary depending on the availability of funding resources and the proposed activity.

Program funding is typically part of an annual coordinated request for proposals (RFP), usually released in January of each year.

In 2024, an anticipated $5 million in AHIF will be available via the Coordinated Affordable Housing RFP.  The Coordinated RFP will be released in the first week of January 2024, with proposals due in February.

Learn more about the coordinated request for proposals.