Predevelopment Loan Fund
The MHP Predevelopment Loan Fund is a revolving loan fund that provides resources for predevelopment expenses incurred in affordable housing developments for nonprofit borrowers outside of the 7-county Twin Cities metro area and Duluth. MHP provides predevelopment loans for single-family, multi-family, and mixed income development projects.
Eligible Predevelopment Activities Include:
- Project specific market feasibility studies
- Site analysis
- Site design
- Securing zoning compliance
- Preparing funding applications
- Monitoring construction process
- Legal fees
Predevelopment Loan Fund program guidelines, a request for funds, and an application form can be completed by downloading the following forms:
- Guidelines for MHP Predevelopment Loan Fund
- Predevelopment Loan Request Form (fill in PDF form)
- Predevelopment Loan Request Form (MSWord version)
- Application Form for MHP Predevelopment Loan (fill in PDF form)
For more information, contact:
Rosemary Fagrelius
Housing Development Director
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651.925.5542
The MHP Loan and Grant Committee meets the third Monday of every other month to review applications. Applications must be received a minimum of three weeks prior to a meeting in order to be considered for funding.
| 2012 Loan and Grant Calendar* | |
| Application Due Dates | Loan and Grant Committee Meetings |
| December 26, 2011 | January 16, 2012 |
| February 27, 2012 | March 19, 2012 |
| April 30, 2012 | May 21, 2012 |
| June 25, 2012 | July 16, 2012 |
| August 27, 2012 | September 17, 2012 |
*These dates are tentative and may change without notice.
(Please note that Minnesota Housing Partnership does not offer funds to individuals. See Looking for Housing for information about assistance for individuals.)
