Upper Post Veterans Community | Fort Snelling, MN

CommonBond Communities

58 units of supportive housing for veterans and their families

Steve O’Neil Apartments | Duluth, MN

One Roof Community Housing/Center City Housing Corporation

Beacon Hill | Grand Rapids, MN

Itasca County HRA, Northland Counseling, D.W. Jones

48 units of permanent supportive housing

MEF invests in new construction, acquisition/rehabilitation, and

adaptive reuse of historic buildings to create affordable housing.

MEF offers two strategies for placing investor equity: multi-

investor funds and proprietary funds. Funds are managed by

MEF’s joint venture partner, Cinnaire. Current investors include

Fortune 500 companies, financial institutions, and insurance

companies.

MEF syndicates two kinds of tax credits: Low-Income Housing

Tax Credits (LIHTC) and state and federal Historic Tax Credits.

Typical investor benefits include the following:

Investors receive a dollar-for-dollar reduction in their federal

income tax liability.

Investors have the opportunity to benefit from tax losses

generated by affordable housing real estate developments.

Bank investors can receive positive consideration toward

their rating under the Community Reinvestment Act (CRA).

LIHTC assets have been consistently stable and high per-

forming among peer real estate classes.

MEF is a joint venture with Cinnaire, a community development

financial partner with a proven track record of investment man-

agement, underwriting, asset management, and SEC, HUD, and

IRS compliance.

MEF and Cinnaire seek to invest in

affordable housing in Minnesota,

Wisconsin, Illinois, Indiana, Michi-

gan, New Jersey, New York, Pennsyl-

vania, Delaware and Maryland, as

well as Mississippi and Louisiana.

Minnesota Equity Fund (MEF) is a social enterprise designed to

raise equity capital from corporations and banks to invest in well

designed, high quality, sustainable affordable housing develop-

ments throughout Minnesota and in other target markets.

Improve access to equity capital for developers

and conserve public and charitable subsidies

Foster a robust tax credit investor market

Offer Minnesota corporations the opportunity

to invest in local community development

Address local affordable housing production

and preservation goals

Be a solutions-oriented, responsive organiza-

tion to facilitate closings in an organized and

timely manner

Prairiewood

Faribault

Tamarack Place

Roseau

Household Income

Upper Post Vet Community

Fort Snelling

Gateway Tower

Duluth

Gage East Apts.

Rochester

MEF

has invested

$113 million

21 developments

1,091 affordable homes

Workforce Housing

Low-Income Senior Housing

Historic Preservation

Rural Development

Preservation

Mixed-Use and Mixed-Income

Supportive Housing for Disabled

Persons, Veterans and their

Families, Homeless Youth, Fami-

lies with Children, and Long-

Term Homeless

The Commons at Penn | Minneapolis, MN

Building Blocks, Inc.

47 units of affordable workforce rental housing

About Cinnaire

Cinnaire is a full-service community develop-

ment financial partner with equity funds in ten

states. Cinnaire has invested over $3.5 billion

in housing and community developments and

has financed over 650 developments with over

39,000 housing units. Cinnaire supports com-

munity stabilization and economic develop-

ment by developing and nurturing partnerships

with investors and mission-focused organiza-

tions. Cinnaire provides creative loans, invest-

ments, and best-in-class services to partners.

Find more information at www.cinnaire.com.

About Greater Minnesota Housing Fund

Greater Minnesota Housing Fund (GMHF) is Minnesota’s leading nonprofit

affordable housing lender, having awarded over $253 million in its 20-year

history, financing over 14,100 units of affordable housing and leveraging

more than $1 billion in additional capital investments. GMHF established

its tax credit investment subsidiary, Minnesota Equity Fund (MEF), in 2012.

GMHF operates a $42 million development loan fund providing predevel-

opment, acquisition, construction, bridge, and first mortgage financing for

affordable housing throughout Minnesota. GMHF is certified by the Depart-

ment of Treasury as a Community Development Financial Institution (CDFI)

and is a member of the Federal Home Loan Bank of Des Moines. GMHF is

rated AAA+2 by Aeris. Find more information at www.gmhf.com.

MINNESOTA EQUITY FUND — THE JOINT VENTURE TEAM

Minnesota Equity Fund

c/o Greater Minnesota Housing Fund

332 Minnesota Street | Suite 1201-E

Saint Paul, MN 55101

www.mnequityfund.org | 651.221.1997

MINNESOTA EQUITY FUND CONTACTS

John Errigo, Director of Syndication & Loan Officer

jerrigo@gmhf.com | 651.221.1997 x115

Warren W. Hanson, President & CEO, GMHF & MEF

whanson@gmhf.com | 651.221.1997 x107