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 NOAH Impact Fund

NOAH Impact Fund is a subsidiary of 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

GMHF is AERIS rated and a member of the  
Federal Home Loan Bank of Des Moines.

 
AERIS RATED AAA +2 FHLB Des Moines

Staff Contacts

John Errigo
Director of Investing & Fund Manager
jerrigo@gmhf.com
651-350-7224

General Contact Info

NOAH Impact Fund
c/o Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1650-West
Saint Paul, MN 55101