The Minnesota Housing Board of Directors has approved $41.75 million to preserve existing affordable housing rentals in Twin Cities and Greater Minnesota. With $18.1 million allocated for Greater Minnesota and $23.7 million for the Twin Cities metro, funding will help stabilize 1,013 homes for Minnesotans. NOAH or Naturally Occurring Affordable Housing refers to older rental properties that are affordable due to market conditions rather than government rent restrictions. Preserving NOAH will help keep homes affordable, address aging building needs, and reduce the risk of displacement for residents when properties are sold or need repairs. “Preserving naturally occurring affordable housing is one of the most direct ways to protect affordability and strengthen community stability,” said Minnesota Housing Commissioner Jennifer Leimaile Ho.