FINANCIAL_SERVICESONGOING

U.S. Bank Commits HTC Equity to LOMA Project

U.S. Bank will provide about $9.9 million in Housing Tax Credit equity for The LOMA senior housing development in Minneapolis. The investment is based on an estimated $1.19 million in annual 4% tax credits over a 50‑year land use restriction period.

Document date · May 28, 2026

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Derivita logo
Comcate logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
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Scope & details

The full contract record, as filed.

Contract amount
Housing Tax Credit equity proceeds of $9,917,392 (approx. $1,194,952 annual 4% credits)
Contract type
FINANCIAL_SERVICES
Contract term
50‑year Land Use Restrictive Agreement; tax credit equity investment period per standard HTC timelines
Renewal date
2076-12-31
Renewal
Equity investment is tied to a 50‑year Land Use Restrictive Agreement; standard HTC compliance and recapture provisions apply rather than traditional renewals.
Document type
AgendaPacket
Source document
Minnesota Housing AgendaPacket 2026-05-28

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Minnesota Housing Finance Agency | State of Minnesota?

U.s. Bank was awarded this financial services contract by Minnesota Housing Finance Agency | State of Minnesota, as recorded on May 28, 2026. The contract value is Housing Tax Credit equity proceeds of $9,917,392 (approx. $1,194,952 annual 4% credits).

How much is the U.s. Bank contract with Minnesota Housing Finance Agency | State of Minnesota worth?

The U.s. Bank contract with Minnesota Housing Finance Agency | State of Minnesota is valued at Housing Tax Credit equity proceeds of $9,917,392 (approx. $1,194,952 annual 4% credits), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Minnesota Housing AgendaPacket 2026-05-28 (AgendaPacket), dated May 28, 2026 from Minnesota Housing Finance Agency | State of Minnesota. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does U.s. Bank hold?

U.s. Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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