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HOUSING
Small Cities Grants
The Small Cities Grants, funded through DEED (Department of Employment and
Economic Development) are income based deferred grants to do basic necessary
housing repairs in owner occupied homes. Funds are distributed on a first
come first serve basis and require a homeowner contribution of match funds.
Eligibility:
For owner occupied grants,80% of the area median family income of the county in
which the community is located. Must have at least 1/3 ownership in the
property. Taxes and insurance must be current on the home. For rental grants the
tenants must qualify under the income guidelines and the owner must have at
least 1/3 ownership in the property and have taxes and insurance current.
Commercial grants, the owner must have at least 1/3 ownership in the property,
have taxes and insurance current.
Funds are only available in communities that have received a
Small Cities Grant award. Some Small Cities Grants have funds that assist
commercial and rental property owners as well as owner occupied grants.
Income guidelines: (2006)
Household Size
Income
1
$30,850
2
$35,300
3
$39,700
4
$44,100
5
$47.650
6
$51,150
7
$54,700
8
$58,200
Guidelines are adjusted annually in March.
Minnesota Housing Finance Agency
Rehabilitation Loans (MHFA)
Income based deferred loans for improvements for basic necessary
housing repair to owner occupied properties. No interest or monthly payments
until such a time that you sell, transfer or move from the property or until the
30th year when the deferred loan is due and payable.
Eligibility:
Must be income eligible based on the guidelines set by MHFA yearly.
Funds are available through Prairie Five in Chippewa, Lac qui
Parle and Yellow Medicine County. For Big Stone County contact the Big Stone
County HRA and for Swift County contact the Swift County HRA.
Income Guidelines:
Household Size
Income
1
$16,500
2
$18,850
3
$21,200
4
$23,550
5
$25,450
6
$27,300
7
$29,200
8
$31,100
Guidelines are adjusted annually.
HomeStretch
A home buyer education program which provides information on home
purchasing loan options, purchase agreements, loan closings, budgeting and home
maintenance after the purchase. After class completion, a certificate is
obtained which may enable the participant to apply for certain loan programs.
There is a fee for the class. for more information contact the Southwest
Minnesota Housing Partnership at 1-888-468-8010
ext. 418 to register for classes held in the Prairie Five service area. Or for
classes statewide contact the Home Ownership Center at
www.HOCMN.org for a list of classes.
HOME Program (Home Modification for the
Elderly)
Funds that can assist an elderly (60+) with minor health and safety
repairs of repairs that will enable them to stay in the home- like handrails,
step treads, smoke detectors etc.
Portable aluminum ramps are also available for temporary rental.
There is a sliding fee for the repair projects and a set up fee and a monthly
rental fee for the ramps.
Eligibility:
Must be 60+ and have an eligible need.
Funds are provided through a Community Services Service
Development grant to assist with these programs. Funds are available in all five
counties and are limited.
No income guidelines. However, a sliding fee scale uses a
self-declared income to determine the fee for the repair.
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