Affordable housing incentive fund
The Affordable Housing Incentive Fund (AHIF) finances the development of affordable housing units for very low-income households. AHIF is capital funding, typically in the form of a long-term deferred loan, provided to municipalities, other government and nonprofit agencies, and private and nonprofit housing developers and other lenders in supporting the creation or preservation of long-term affordable housing countywide. 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:
- Affordable rental housing
- New construction, substantial and moderate rehabilitation, and preservation
- Supportive housing
- Mixed-income housing
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 the annual coordinated request for proposals (RFP).
Coordinated affordable housing development RFP