Minnesota Housing Finance Agency
Encyclopedia
The Minnesota Housing Finance Agency (MHFA) is an agency
of the State of Minnesota
tasked with reducing and/or eliminating homelessness
, increasing home ownership for minorities
, and increasing and preserving affordable housing
.
The Minnesota Housing Finance Agency is proud of its record of addressing Minnesota's basic housing needs and helping build stronger communities
. Since MHFA's creation in 1971, it has assisted more than 400,000 households by providing funding for a variety of housing needs. They help people buy their first homes or fix up their existing homes. They help build and fix up affordable apartments, single family homes, shelters, and transitional and supportive housing. They work cooperatively with others to revitalize older neighborhoods and communities, build new housing around the state for a growing work force, and preserve the stock of federally-assisted rental housing.
Government agency
A government or state agency is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types...
of the State of Minnesota
Minnesota
Minnesota is a U.S. state located in the Midwestern United States. The twelfth largest state of the U.S., it is the twenty-first most populous, with 5.3 million residents. Minnesota was carved out of the eastern half of the Minnesota Territory and admitted to the Union as the thirty-second state...
tasked with reducing and/or eliminating homelessness
Homelessness
Homelessness describes the condition of people without a regular dwelling. People who are homeless are unable or unwilling to acquire and maintain regular, safe, and adequate housing, or lack "fixed, regular, and adequate night-time residence." The legal definition of "homeless" varies from country...
, increasing home ownership for minorities
Minority group
A minority is a sociological group within a demographic. The demographic could be based on many factors from ethnicity, gender, wealth, power, etc. The term extends to numerous situations, and civilizations within history, despite the misnomer of minorities associated with a numerical statistic...
, and increasing and preserving affordable housing
House
A house is a building or structure that has the ability to be occupied for dwelling by human beings or other creatures. The term house includes many kinds of different dwellings ranging from rudimentary huts of nomadic tribes to free standing individual structures...
.
The Minnesota Housing Finance Agency is proud of its record of addressing Minnesota's basic housing needs and helping build stronger communities
Community
The term community has two distinct meanings:*a group of interacting people, possibly living in close proximity, and often refers to a group that shares some common values, and is attributed with social cohesion within a shared geographical location, generally in social units larger than a household...
. Since MHFA's creation in 1971, it has assisted more than 400,000 households by providing funding for a variety of housing needs. They help people buy their first homes or fix up their existing homes. They help build and fix up affordable apartments, single family homes, shelters, and transitional and supportive housing. They work cooperatively with others to revitalize older neighborhoods and communities, build new housing around the state for a growing work force, and preserve the stock of federally-assisted rental housing.