Month: May 2024

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Lunch n’Learn

*Due to low registration, we have chosen to postpone our Lunch & Learn introducing you to the MN State Housing Tax Credit program until late summer or early fall. 
If you would like to know more about the program before the fall, please reach out to our team to schedule a time to meet.
Our apologies for the postponement, but thanks for your understanding!*

Habitat for Humanity of South Central Minnesota is thrilled to announce its participation in the new Minnesota State Housing Tax Credit Program and Contribution Fund. Habitat for Humanity of South Central MN is hosting a lunch n’learn for business owners, financial advisors, and community members interested in learning more about the new program, how it works, and if they could benefit. There will be a lineup of speakers, including Devon Pohlman from Habitat Minnesota, Brock Thaemlitz from Eide Bailly, and Sondra Herman from Habitat SCMN.

📅 Wednesday, June 26, 2024
⏰ 12 pm to 1 pm
📍The Venue- 1850 Madison Ave, Mankato
Lunch Provided. Please RSVP by June 17th to Sondra.herman@habitatscmn.org

This innovative program allows taxpayers to invest in affordable housing across the state, supporting housing for all Minnesotans while receiving a state tax credit certificate of 85% of their contribution. This program offers a unique avenue for funding affordable housing throughout the state. Eligible individuals and businesses can contribute between $1,000 and $2 million each tax year to qualify for this tax credit. Contributions can be designated to support specific qualifying projects or the general housing fund.

Habitat has two exciting projects eligible for funding, one in North Mankato and one in St Peter. To learn more about supporting local affordable housing initiatives and the new Minnesota State Housing Tax Credit Program and Contribution fund, visit habitatscmn.org. The tax credits provided through this program offer a unique opportunity for donors to maximize their contributions and make a lasting difference in our community.

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Groundbreaking is Good News for Affordable Homeownership in North Mankato

*Rescheduled due to weather forecast. UPDATED TIME: Wednesday, June, 19 from 3-4pm*

Join us for the groundbreaking ceremony for the Rhoades Family in North Mankato!

📅📅June 18, 2024
⏰4 PM
📍702 Rrange St, North Mankato


Want to learn more about Habitat and how to volunteer? Visit habitatscmn.org

Groundbreaking Good News for Affordable Homeownership in North Mankato
Community members and neighbors are invited to the Habitat for Humanity groundbreaking celebration!

North Mankato, MN— A North Mankato family of four marks an important milestone in the construction of their new home, and the community is invited to join in the groundbreaking celebration on June 18, 2024, at 4 pm, at 702 Range St, North Mankato.

The Rhoades family will be the 20th Habitat homeowner in North Mankato. Habitat for Humanity is a hand up not a handout. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Homeownership offers many benefits for families, communities, and local economies and Habitat is excited to partner with the community of New Prague to build more affordable homes.

Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves.

About Habitat: Driven by the vision that everyone needs a decent place to live, Habitat for Humanity South Central Minnesota has built 145 homes and 630 individuals in Blue Earth, Sibley, Watonwan, Le Sueur, and Nicollet counties. Through shelter, we empower. Interested in donating or volunteering to support the St Peter build? Visit habitatscmn.org.

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New tax credit program supports affordable housing

Minnesota’s new tax credit program is aimed at supporting affordable housing throughout the state with tax incentives for those who contribute to affordable housing. Through the amazing new State Housing Tax Credit Program and Contribution Fund, taxpayers receive tax credits for contributing to either a registered housing project or the state housing contribution fund. The program is funded entirely by taxpayer contributions.

When taxpayers contribute to a project or the fund, they qualify for a state tax credit of 85% of the contribution! Habitat for Humanity South Central Minnesota currently has two housing projects that qualify for funding through the new program in North Mankato and St Peter.

FAQs:

Who can contribute?
People or businesses that pays Minnesota taxes and meets eligibility requirements can contribute.

How much can I contribute?
To qualify for the tax credit, contributions must be at least $1,000 and cannot exceed $2 million each tax year.

How much is the credit?
You may be eligible for a state tax credit of 85% of the contribution.

How do I contribute?
To contribute to the State Housing Tax Credit Program and Contribution Fund, you will need to fill out an application.
After you submit your application and your application is accepted, you will:

  • Receive an email with documents to sign
  • Submit your contribution following the instructions contained in the email
  • Receive a tax credit certificate
  • Minnesota Housing issues within 30 days of receiving the signed documents and funds

If your application is not accepted, you will be notified with the reason why your application was declined.

What happens to my contribution?
Contributions will be used to develop and fund affordable housing throughout Minnesota.
Your contribution can go into a general housing fund. These contributions can be awarded to cities, federally recognized American Indian tribes, developers, nonprofits, public housing authorities and more.
You can also opt for your contribution to be awarded to a qualified project.

Questions?
To learn more and apply, visit mnhousing.gov and search for contribution fund. You can also email questions to statehtc.mhfa@state.mn.us.

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Habitat Launches Construction Season At Hard Hat Breakfast


Habitat Launches Construction Season At Hard Hat Breakfast
Community partners and donors meet to discuss local needs.

Mankato, MN May 2, 2024 — Habitat for Humanity hosted its third Hard Hat Breakfast gathering with community members to discuss local housing needs. With the generosity of donors and volunteers, Habitat continues its commitment to building affordable housing in South Central Minnesota, with new builds starting in Mankato, North Mankato, Nicollet, and St Peter in 2024. 

Hard Hat Breakfast is a celebration of the new construction season and a time to discuss local needs. Anne Mavity from Minnesota Housing Partnership gave the keynote discussing affordable housing needs in Minnesota and Blue Earth County and the increasing gap between those needing housing and new homes being built. In Blue Earth County, a median-income household cannot afford an average-priced home, and there is an increasing gap between capacity and those in need. Habitat for Humanity has been impacted by this gap and the rising building costs. In building season 2021-2022, the average cost of building a Habitat home was $208,000. Habitat homeowners could afford a mortgage of $208,000 on average. However, in the last building season, 2023-2024, the average cost of building a Habitat home increased to $290,000 while families could only afford a mortgage of $266,000. Local supporters and donors remain vital to building new homeownership opportunities for hard-working families. 

“Habitat remains committed to finding creative solutions to the housing crisis and building new homes,” says Sondra Herman, Executive Director of Habitat for Humanity South Central Minnesota. Hard Hat Breakfast was made possible by Bremer Bank, H&H Development, Radio Mankato, and many other generous sponsors. More details about the event and sponsors can be found at habitatscmn.org.

Sponsors: Bremer Bank, Radio Mankato, H&H Development, Eide Bailly, Minnesota Valley Federal Credit Union, Leonard Heating & A/C, Web Construction, Lindsay Windows & Doors, Farrish Johnson Law Office, and Premier Title Services.

About Habitat: Driven by the vision that everyone needs a decent place to live, Habitat for Humanity South Central Minnesota has built 145 homes and 630 individuals in Blue Earth, Sibley, Watonwan, Le Sueur, and Nicollet counties. Through shelter, we empower. Interested in donating or volunteering to support the Mankato build? Visit habitatscmn.org.



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