8:00 AM: Affordable Housing State of the Market
Allison Streich, Carver County CDA
Cecil Smith, Minnesota Multi Housing Association
Bernadette Hornig, Hornig Companies
Laura Russ, University of St. Thomas
Katrina Cadalbert, Sherman Associates
Karla Henderson, Project for Pride in Living (PPL)
• Occupancy and demand trends amid a persistent statewide shortage, with high cost-burden rates for lower-income renters and tight inventory in the entry-level segment.
• Overcoming Obstacles: Collections, Bad Debt & other Obstacles — strategies for managing arrears and delinquency in a higher-cost operating environment.
• Eviction Court Challenges impacting Owners & Operators, including post-pandemic case backlogs and evolving local practices.
• Current management challenges in affordable properties, including rising operating expenses and staffing pressures.
• Insurance challenges in the marketplace: premium increases, coverage restrictions, and growing reliance on excess-and-surplus markets that threaten production and preservation of LIHTC and NOAH properties.
• Minnesota Housing Amended QAP overview, updated underwriting standards, and the bond financing threshold now in effect for Housing Tax Credits.
• Expanding voucher programs and state rental assistance to address affordability gaps for households.
• Updates on Minnesota Housing partnerships with local governments, including Local and Statewide Affordable Housing Aid administration and capacity-building support.
• Tax Law Updates: Impacts of the One Big Beautiful Bill — permanent increase in LIHTC allocations and permanent reduction of the private-activity bond threshold.
8:55 AM: Critical Capital Markets Update
Paul Connolly, R4 Capital
John Errigo, Greater Minnesota Housing Fund
Karen Dubrosky, Colliers
Michelle Jester , Messerli & Kramer
Peter Mathison, National Equity Fund
• Investor Trends/Pricing in a market supported by expanded LIHTC capacity and elevated GSE multifamily volume.
• Debt Underwriting looking forward under higher but stabilizing interest rates and tighter underwriting discipline.
• GSE Program Updates: HUD, Fannie Mae, and Freddie Mac innovations, including higher multifamily lending caps with strong mission-driven affordable housing targets.
• Private Debt Platforms – New Options in the Market for both new construction and preservation deals.
• Emerging opportunities in green financing and resilience-linked capital for affordable housing.
• Interest rate movement and its impact on financing feasibility and deal structures.
• Role of community development financial institutions in bridging funding gaps, especially for smaller and rural projects.
• New Private Equity to Preserve Naturally Occurring Affordable Housing (NOAH) amid rising insurance and operating costs.
9:50 AM: Break
10:10 AM: Development, Construction and Design Trends
John Henderson, PE, Emanulson Podus
Monte Hilleman, Sustainable Investment Group (SIG)
Chris Sherman, Sherman Associates
Christian Borgan, Kaas Wilson Architects
• Prevailing Wage – Implementation of Minnesota’s first-in-nation requirements for LIHTC projects (effective 2025) and related responsible-contractor and reporting rules.
• Adopting technology to improve construction efficiency and reduce costs amid elevated material and labor expenses.
• Strategies for retrofitting and adaptive reuse of existing structures for affordable housing.
• Addressing environmental regulations, climate resilience, and site constraints in new housing developments.
• Material and supply chain forecast in a post-peak cost-inflation environment.
• Labor force recruiting – workforce shortages and training needs for the projects pipeline.
• Design trends for developers and builders focused on cost control, durability, energy efficiency, and resident well-being.
11:05 AM: Important Legislative Update Impacting Developers, Owners & Investors
Anne Mavity, Minnesota Housing Partnership
Emily Chad , Husch Blackwell
Sam Johnson, BC Davenport
Melissa Taphorn, Washington County CDA
• Correcting or refining legislation that has created unintended operating or development burdens.
• 4D property tax classification updates and income averaging strategies for mixed-income projects.
• Overcoming local barriers to producing affordable housing through zoning reform and streamlined processes.
• Tenant Protections vs. Operating Challenges — balancing enhanced renter rights with property viability.
• Zoning reform initiatives to increase housing choices and accelerate production.
• Balancing tax incentives with community impact and long-term affordability requirements.
• Navigating federal funding and bond-closing timelines amid potential government disruptions.