Hennepin County to help preserve affordable homes for residents.

The Hennepin County Board of Commissioners, voting as the Housing and Redevelopment Authority, agreed to invest $3 million in a fund that will be used to finance the purchase of about 530 units of existing affordable housing in the county. The county’s investment is part of a $25 million metro-area initiative by the Greater Minnesota Housing Fund, to acquire these units to keep them affordable. The program will target rental properties that are at risk of being converted to higher rents, and where low- and moderate-income residents are at risk of being displaced.

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QUICK FACTS

In Hennepin County, housing costs for 150,000 families consume more than 30 percent of their gross incomes; for about 60,000 households, rent is in excess of 50 percent of their incomes

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Download NOAH Brochure

For more background about the NOAH Impact Fund, please download the NOAH Impact Fund Brochure (PDF).

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About the NOAH Impact Fund

The NOAH Impact Fund is a subsidiary of the Greater Minnesota Housing Fund. This program was established to enable the preservation of existing affordable housing for Minnesotans.

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Greater Minnesota Housing Fund

AERIS Rating 2+FHLB Des MoinesGMHF is AERIS rated and a member of The Federal Home Loan Bank of Des Moines.

 

Staff Contacts

Rachel Robinson
NOAH Impact Fund Manager
rrobinson@gmhf.com
651.221.1997 x114

Warren W. Hanson
President & CEO, GMHF, MEF & NOAH
whanson@gmhf.com
651.221.1997 x107

General Contact Info

NOAH Impact Fund
c/o Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1201-East
Saint Paul, MN 55101