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.

Habitat, receives a $15,000 grant from Wells Fargo to expand access to affordable homes in St Peter.

The Wells Fargo Foundation has awarded $15,000 in grants to Habitat South Central Minnesota to build a  home in St Peter. South Central MN is one of more than 230 Habitat for Humanity affiliates awarded grant funding nationwide through the 2023 Wells Fargo Builds program to help more low to moderate income families access affordable homes.

The grant to Habitat South Central MN along with the support of Wells Fargo volunteers will help build a home for a St Peter family.

On September 20th, Wells Fargo volunteers joined us on-site to help the family build their future home.

At least one in 3 households in South Central MN spend over 30% of their income on housing and the number of St Peter families who are struggling to afford rent is on the rise. This is why Wells Fargo funding is critical.

This funding is part of a $7.5 million donation to Habitat for Humanity International through the 2023 Wells Fargo Builds program to build and repair more than 350 affordable homes nationwide.

17th Annual Golf Tournament

Our Golf Tournament was a “scorching” success with 88 dedicated golfers who showed their stamina through searing temperatures and sky-high humidity!!! We would like to thank Pub 500 for donating a delicious lunch and the other 25 sponsors who contributed to the event’s success! We are enormously grateful to our Golf Committee members–Barry Hager, Warren Smith, Will Dallenbach, Adam Huiras, Brock Thaemlitz, Tom Gengler, and Adam Christenson. We couldn’t have done it without them!

Hard Hat Breakfast a Big Success

Habitat for Humanity of South Central Minnesota recently hosted our first annual Hard Hat Breakfast, and we are happy to announce that it was a very successful event!

The morning included a free breakfast buffet, live harp music, and two wonderful presentations. The first was our keynote speaker, Dr. Sheri Allen, who is the soon-to-be-retired superintendent of Mankato public schools. Dr. Allen gave us a wonderful presentation on the great importance of stable housing on today’s students. She included many eye-opening statistics as well as examples she has seen first-hand in her many years in education.

Our second speaker was Abby Martin, who is a recent recipient of a local Habitat for Humanity home. Abby, along with her daughter Ahna, shared with us her very touching story about her family’s background and how she ended up applying for a home through Habitat. She was very open with us and really conveyed how much getting a new home has meant to her and her children. They are so happy to be in a great home and community that they love, and we were blessed to hear her story and see the difference Habitat has made in their lives.

All in all, we had 157 appreciative guests, 29 sponsors contributing $12,000, and we received more than $12,500 in individuals donations from guests in attendance.

On behalf of the Board of Directors and Staff, we want to thank our generous community for their ongoing commitment and support!!!!

Mankato Motors supports Habitat for Humanity

Pictured: Julie Schmillen, executive director Habitat for Humanity, Dale Schmitt, owner Mankato Motors, and Michael Euerle, Habitat for Humanity resource development manager

Habitat for Humanity of South Central Minnesota, a nonprofit organization dedicated to building safe, decent and affordable housing with and for families in need, accepts a $16,700 donation from Dale Schmitt, Owners of Mankato Motors.  Habitat for Humanity was the recipient of $100 per new or used car sold from Mankato motors for the Month of May.