Rental Rehabilitation Deferred Loan Program:

CMHP received a $2 million allocation of funds for 2014-2015.

Applications will be accepted and reviewed on a pipeline basis.

 

 

 

Central Minnesota Housing Partnership, Inc.

Rehabilitation Programs

The Central Minnesota Housing Partnership helps to maintain affordable housing through a variety of rehabilitation programs. These programs provide assistance to homeowners and rental property owners, and also commercial property owners. Below is information about the rehabilitation programs we are currently administering.

Rental Rehabilitation Deferred Loan Pilot Program (RRDL)

Central Minnesota Housing Partnership has received a $2 million RRDL funding allocation for 2014-2015 rehabilitation projects. Our program is available to eligible properties of six or more units located in these counties: Aitkin, Benton, Carlton, Cass, Chisago, Crow Wing, Isanti, Kanabec, Mille Lacs, Morrison, Pine, Sherburne, Stearns, Todd, Wadena and Wright (excluding the city of St. Cloud).

RRDL funding is provided to approved owners and properties as a 0% interest deferred loan. Funds can be used to cover the costs of eligible project soft costs and rehabilitation items. Common rehab items include roofing, siding, windows, doors, floor coverings, painting, appliances, plumbing, HVAC and mechanical systems. RRDL funding is only be available to properties meeting rent and tenant income limit requirements. In addition, owners of approved projects must agree to maintain rent and income limits for a set compliance period based on the term of the loan.

Program highlights include:

  • Loans up to $25,000 per unit with a maximum RRDL loan of $300,000 available per project
  • Financing structured as a 0%, deferred construction loan
  • Loan terms between 10 to 30 years available
  • 25% of loan may be forgivable in the last 5 years of program compliance

 

APPLICATIONS NOW BEING ACCEPTED FOR 2014 PROJECTS!

CMHP is now accepting completed application packages for 2014 funding. Applications will be accepted and reviewed on a first come, first served pipeline basis.

Application Materials

Below are links to all application materials. It is suggested that applicants read through the instructions and notes before proceeding wth the application.

Please note, only completed applications with all required attachments will be accepted. Application instructions and notes are provided to make the application process as simple as possible. If you have questions please do not hesitate to contact me. Applications should be submitted to:

Central Minnesota Housing Partnership, Inc.

Attn: Jason Krebsbach

37 - 28th Ave. North, Suite 102

St. Cloud, MN 56303

For more information about this program, please contact Jason Krebsbach, Community Development Director at (320) 258-0672 or jason@cmhp.net

 

Small Cities Development Program

The Small Cities Development Program is overseen by the Minnesota Department of Employment and Economic Development (DEED). This federally funded program provides financing for owner-occupied rehabilitation, rental property rehabilitation and commercial rehabilitation. The types of funding available in a specific community are determined by assessing a community's need and resident interest. Central Minnesota Housing Partnership works with cities to prepare and submit preliminary proposals and full applications through DEED's competitive application and award process. Features of the program include:

  • 0% deferred loans forgivable loans and low interest loans for needed repairs
  • Favorable owner match funds requirements
  • Eligible homeowners may use SCDP funds for items such as: roofing, gutters, siding, windows, doors, insulation, HVAC, electrical, plumbing and to address required lead paint remediation items
  • Eligible commercial owners may use SCDP funds for items such as: roofing, siding/brickwork, doors, windows, insulation awnings/signs, HVAC mechanical systems, code issues and accessibility modifications

The following communities currently have an open SCDP award and applications are being accepted from owners.

Pierz/Little Falls/Royalton (PLFR): Applications are currently being accepted for owner-occupied (homeowner) rehabilitation and commercial rehabilitation funding. Please view the links below for a printable application, program policies and procedures and additional application documents.

Homeowner forms

Commercial forms

Sebeka: Applications are currently being accepted for owner-occupied (homeowner) rehabilitation and commercial rehabilitation funding. Please view the links below for a printable application, program policies and procedures and additional application documents.

Homeowner forms

Commercial forms

St. Joseph: Applications are currently being accepted for owner-occupied (homeowner) rehabilitation funding. Please view the links below for a printable application, program policies and procedures and additional application documents.

Staples: Applications are currently being accepted for owner-occupied (homeowner) rehabilitation and commercial rehabilitation funding. Please view the links below for a printable application, program policies and procedures and additional application documents.

Homeowner forms

Commercial forms

Deerwood: Applications are currently being accepted for owner-occupied (homeowner) rehabilitation funding. Please view the links below for a printable application, program policies and procedures and additional application documents.

SCDP applications and all required attachments should be mailed to:

Central Minnesota Housing Partnership, Inc.

Attn: Seth Kauffman

37 - 28th Ave. North, Suite #102

St. Cloud, MN 56303

For more information about the Small Cities Development Program please contact Seth Kauffman, Program Manager, at (320) 258-0673 or seth@cmhp.net