Home Repair Grant
Monday, October 26th, 2009
The City of Hutchinson has been awarded funding for homeowners interested in improving their homes from the Minnesota Department of Employment & Economic Development, Small Cities Development Program (SCDP).
This assistance to Homeowners is in the form of a 0% Interest, Deferred Loan forgiven after 10 years. If the property is sold, title is transferred, or the Borrower no longer lives in the home before the 10-year forgiveness date, 10% will be forgiven each full year in the home.
The SCDP Loan amount is 60% of the repair costs. 40% of project cost is an Owner Match. Match funds can be obtained from other products available through the Hutchinson HRA.
The maximum SCDP Loan amount available is $24,999, per property. Any costs exceeding this amount will be the responsibility of the Homeowner.
The Main Purpose of the Program is to address Health & Safety Issues, along with other improvements such as Repair or Replacement of the following:
- Defective plumbing, heating or electric systems
- Roofing, windows and doors
- Exterior carpentry such as rotting siding, porches and steps, etc.
- Interior carpentry such as walls and floors
- Handicap Accessibility Issues
Minnesota licensed general contractor that is on file at the HRA office will have to do the rehab work and depending if your home has lead-based paint, a Lead-Certified Contractor may be needed.
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Go to the website to learn more about the qualifying requirements
Related posts:
- Home Repair Grant
- Home Repair Grant
- Lead Paint Removal Grant
- Emergency Home Repair Grants
- Home Repair Assistance
Tags: home repair, Minnesota
This entry was posted
on Monday, October 26th, 2009 at 5:47 am and is filed under Home Grants.
If you are looking for similar grants in this state, click the category name here. That will give you a list of grant announcements in that category in the state.
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