- Created: Friday, 15 February 2019 09:52
- Written by Elizabeth Glidden, Director of Strategic Initiatives & Policy
On February 8, the Office of the Legislative Auditor (OLA) released a report on the Economic Development and Housing Challenge (EDHC) Program, administered by Minnesota Housing (MHFA).
EDHC provides grant or loan funding for affordable rental housing developments that support economic development activities. Funds provide support for acquisition, rehabilitation, or new construction of permanent rental housing, with a minimum of four units. The Legislature appropriated an average of $9.3 million in base funding to the program each year between fiscal years 2012 and 2019.