Minnesota Housing Board Agenda Packet 2026-05-28
U.S. Bank to provide LIHTC equity for The LOMA
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Description
U.S. Bank will invest about $9.9 million in Housing Tax Credit equity to support construction and long-term affordability at The LOMA senior housing project in Minneapolis. The equity is tied to 4% federal credits and a 50‑year land use restriction agreement administered by Minnesota Housing.
Contract Details
Contract Amount
$9,917,392
Vendor
U.S. BANK
Agency
Minnesota Housing Finance Agency, MN
Contract Type
FINANCIAL_SERVICES
Document Date
May 28, 2026
Contract Term
Housing Tax Credit equity delivered over compliance period per partnership agreement
Renewal Info
Tax credit equity is governed by the partnership’s HTC syndication and compliance schedule; no renewals are described beyond the 50‑year land use restriction and standard tax credit compliance periods.
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APPROVEDIssuing Agency
Minnesota Housing Finance Agency
State Housing Authority
St. Paul, MN
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