MARSHALL — For the third consecutive year, Tapestry Companies is seeking state tax credits to build a 60-unit affordable housing complex in Marshall. On Tuesday, the Lyon County Board voted to pledge its remaining state housing funds to strengthen the project’s application for financing from the Minnesota Housing Finance Agency.
The proposed development would be located near London Road and offer one- to four-bedroom apartments for families earning up to 50% of the area’s median income. The project has previously applied for funding in 2023 and 2024 but fell just short of being selected.
To improve its chances this year, Tapestry has added enhancements to its application, including securing local financial contributions. The city of Marshall has agreed to donate the project site, with the land sale proceeds being reinvested into the development. Additional incentives from the city may also be included.
Minnesota Housing is expected to announce funding recipients in December.
