DEVELOPMENT FINANCING

The Washington County HRA is authorized to issue tax exempt and/or taxable revenue bonds for multi-family housing and public facilities projects.  In addition, the HRA may issue conduit bond financing which allows public and non-profit to finance housing or public facility projects with revenue bonds.  In recent years the HRA has assisted the City of Newport, City of Woodbury and a consortium of cities in the Lake Saint Croix Valley with conduit bond financing.

The Washington County HRA is a suballocator of the LIHTC (also knows as "Section 42") program for the jurisdiction of Washington County only.   The HRA administers the program with the assistance of the Minnesota Housing Finance Agency (MHFA).  The HRA is responsible for both reviewing applications and annual monitoring of existing projects.   Applications are solicited on an annual basis and are usually due in late June.   Developers interested in learning more about this financing program or applying for LITHC assistance should contact Rich Malloy, Deputy Executive Director at 651-458-0936 x 555 or by email at "rmalloy@wchra.com".  

 Projects completed within the last few years include:

Lakeside Townhomes, 36 Unit Townhome Development in Woodbury

Pondview Townhomes, 40 Unit Townhome Development in Woodbury

Long Lake Villas, 50 Unit Townhome Development in Stillwater

Click on the links below to access current LIHTC plans, manuals and other documents.  

This is a new fund established by HRA to assist developers with GAP financing for affordable housing projects.  This fund may be used finance land acquisition, new construction, rehabilitation and first time homebuyer programs.  For more information about this program please contact Rich Malloy, Deputy Executive Director at 651-458-0936 x 555 or by email at "rmalloy@wchra.com".