Flexible Financing Capital Costs (FFCC)
Minnesota Housing
Minnesota
The Flexible Financing for Capital Costs (FFCC) loan works in tandem with LMIR loans and Housing Infrastructure Bond (HIB) loans. FFCC loans are typically structured as deferred loans at low or no interest and used: 1) As a mechanism to reduce the overall interest rate to the development when structured in conjunction with a LMIR loan; or, 2) To fund costs not otherwise funded under the HIB proceeds when structured in conjunction with an HIB loan.
Contact
John Patterson
Minnesota Housing
[email protected]
651-296-0763
Other Eligibility Requirements
No other eligibility requirements
Priority Populations
Very low-income households (income less than 50% AMI)
Total Funding
$20,000,000
Funding Source
Dedicated funding stream - Real estate transfer tax; Dedicated funding stream - Revenue from state-owned property
Funding Year
FY 2022-2023
How Provided?
Development loans
Data Collected by Program
Income; Race; Ethnicity