Terms taken largely from the funding of developments in minneapolis.

 

 the RFP archive of the city of minneapolis was very useful, also there was a jargon translator 

 

 

minimum for inclusion is $100000

 

 

Community Development Block Grant

 

 

Syndication Proceeds

 

TIF 

 

GP Loan / Cash / Equity = Money that the developers have already.

 

AHTF (Affordable Housing Trust Fund) - CBDG + HOME

 

MHFA

 

HRB

 

DMNA = Downtown Minneapolis Neighborhood Association (affordable housing fund, finished in 2004)

 

CEDF (Community Economic Development Fund)

 

New Market Tax Credit 

 

Empowerment Zone loans / grants

 

LCDA = Metropolitan Council Livable Communities Demonstration Account

 

 

HUD SHP = Supportive Housing Program ?

 

MCDA/CPED/MHFA low-income housing tax credits

 

MHFA EDHC = Economic Development and Housing Challenge Program

 

FHLB = Federal Home Loan Bank

 

Hennepin County AHIF = Affordable Housing Incentive Fund

 

TEA-21  (Transportation Equity Act 21)   

 

Met Council LCA = Livable Communities Act

 

FHF = Family Housing Fund

 

Hilton Legacy Fund

 

MHFA EMG = Employer Matching Grant

 

Common Project funds of up to $800,000

 

$500,000 MILES pollution retrofit grant

 

$2 million HUD EDI grant and $6.5 million EDI loan

 

$2.9 million Leveraged Investment Fund Loan = 1990s tool

 

$4,570,314 Met Council TBRA grants for pollution

 

$433,334 DTED redevelopment grant 

 

$4.9 million - housing revenue bonds

 

$1,305,337 land writedown from Hennepin County

 

$3.9 million Tax-exempt Multifamily Rental Housing Entitlement Bonds

 

$180,000 * 18 = 3.24 million â€“ Affordable Ownership Housing Program (AOHP) Buyer’s 2nd Mortgages = cunning trick for 18-unit townhome development: give the AOHP mortgages to recievers and transfer them to the end-user after it's been built.

 

 

Things that have to actually be voted on by the city and state governments.

 

$103 million in 501(c)(3) Tax-exempt Revenue Bonds as a joint issue with the Saint Paul Housing and Redevelopment Authority. (Children's Hospital)

 

$22.225 million in new revenue bond financing for the renovation of the Pantages Theater as well as capital improvements at the Orpheum and State Theaters. 

 

The State of Minnesota has approved a $25,000,000 grant to the City for the Guthrie project. (125 million total)

 

 The greenway was actually built using roughly 5 million in federal grants.

 

 

 

 Other Stuff

 

Minnesota Group Residential Housing Program.  This pays for room, board, meals and other related service expenses for residents of drug and mental health treatment programs, board and lodge facilities and adult foster care homes.  The reimbursement rate is set at $1,001/client/month, which is $575 for room and board and $426 for services.