City of Kenyon awarded $576,250 in Small Cities Development Program Funding for Housing & Commercial Rehab
City of Kenyon awarded $576,250 in Small Cities Development Program Funding for Housing & Commercial Rehabilitation
The City of Kenyon has received $576,250 in Small Cities Development Program Funding that will provide funding for 15 owner-occupied residential rehabilitation projects. The funding is available to residents in a targeted area. Financing for the owner-occupied housing rehab activity is in the form of a 10-year deferred loan. Qualified homeowners will be served on a first come, first serve basis.
Qualified owner-occupied residents who meet established income limits (2017 income limits are:
1 person – $42,300; 2 people – $48,350; 3 people – $54,400; 4 people – $60,400; 5 people – $65,250) are eligible to receive assistance for necessary repairs to their home. Eligible improvements include health and safety, energy efficiency, and accessibility improvements.
Additionally, the funding will assist 5 commercial property owners in the commercial targeted area (Properties located immediately north and south of County 12 Blvd./2nd St. from Spring St. and Red Wing Ave.) in rehabilitating their commercial properties. Eligible improvements include exterior improvements to improve exterior appearance, health and safety improvements, energy efficiency improvements, code violations, and accessibility improvements.
For more information on targeted areas and eligibility requirements or to apply for the program, please contact Tressa Sauke at SEMMCHRA at (651) 565-2638 ext. 204 or email tsauke@semmchra.org.
This is an equal housing opportunity program.
$1,280,921 Available for Loans to First Time Homebuyers!
in Goodhue, Wabasha, and Winona Counties
The Southeastern Minnesota Multi-County Housing and Redevelopment Authority announced that Goodhue, Wabasha, and Winona Counties received a $1,280,921 allocation to provide homeownership opportunities through single-family mortgage revenue bonds. The mortgage offered is a 30-year, fixed rate loan. These funds are available exclusively to residents in Goodhue, Wabasha, and Winona Counties (excluding the Cities of Red Wing and Winona) on a first come, first served basis!
Qualified first-time homebuyers who meet established income limits may be eligible to receive down payment or closing cost assistance.
Funds may be used for the purchase of a new or existing home. The purchase price limit of a home is $253,800. Interest rates may change often; call us to check the latest rate! To obtain a list of local participating lenders and interest rates, homebuyers can contact the Southeastern Minnesota Multi-County Housing and Redevelopment Authority and talk with Tressa at 651-565-2638, ext. 204 or email tsauke@semmchra.org.
This is an equal housing opportunity.