Collaborative Village Initiative
815 E Franklin Ave
Minneapolis, Hennepin County, Minnesota 55404

Call (855) 598-3283, enter extension 60028, then hit #.

Request an Application

Funding Programs

Collaborative Village Initiative was developed and operates with Federal housing financing. The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit and HOME.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 2003. The property was placed in service in 2004. 18 of 20 units at Collaborative Village Initiative are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was located in a Qualified Census Tract qualifying it for additional tax credit financing.

HOME Investment Partnership

The property was financed in part with financing through the Federal HOME Investment Partnership Program. 18 of the 20 total units at Collaborative Village Initiative are assisted under the HOME program.

Overview

Collaborative Village Initiative is an affordable apartment community located in Minneapolis, Minnesota which is located in Hennepin County. The property is located in Minnesota's 5th Congressional District served by Representative Keith Ellison (D), Senator Alan Franken (D) and Senator Amy Klobuchar (D).

Collaborative Village Initiative is an apartment community containing 20 rental units. This property serves all family types. The property contains 60 bedrooms and based on typical apartment occupancy limits, Collaborative Village Initiative is home to not more than 120 persons when fully occupied.

Rental Subsidies

This property does not provide any Federal rent subsidies to renters reducing total tenant payments to 30% of their adjusted income. Renters are required to pay the full rent, even if it is in excess of 30% of their income. In some cases the property may accept Section 8 Housing Choice vouchers.

Unit Mix

Collaborative Village Initiative contains a mix of 20 assisted two, three, and four bedroom apartments for rent. There are 6 Two Bedroom, 8 Three Bedroom, and 6 Four Bedroom apartments in this property. The unit mix is 30% Two Bedroom, 40% Three Bedroom, and 30% Four Bedroom apartment rentals. The average bedroom size for Collaborative Village Initiative is 3.

Minnesota's 5th

Congressional District

20

Total Units

18

Tax Credit Units

18

HOME Units

Two, Three, and Four

Unit Mix

3

Average Bedroom Size

Find More in Minneapolis

Search Nearby Affordable Housing

Find More in Hennepin County

Search Nearby Affordable Housing

Find More in Minnesota

Search Nearby Affordable Housing

† These counts are estimates based on the data available from HUD. Learn More About Our Data