PROGRAM
DESCRIPTION: Funds provided to eligible
grantees to operate a program that finances repair and rehabilitation
activities to individual homeowners or rental properties for very-low or
low-income persons.
TYPE OF ASSISTANCE:
Grantees will provide eligible homeowners, owners of rental properties,
and owners of co-ops with financial assistance through loans, grants,
interest reduction payments or other comparable financial assistance for
necessary repairs and rehabilitation or replacement housing.
ELIGIBILITY REQUIREMENTS:
Grantees may be public or private nonprofit corporations or tribes who
have the experience, resources, and legal capacity to conduct a program
providing housing preservation financial assistance. Assistance recipients
will be very-low and low-income households.
FUND
AVAILABILITY: The amount of funds available in
Minnesota
will be published as an annual Notice of
Funds Availability (NOFA) in the Federal Register. Applications will be
accepted each year during the funding cycle. No one entity can receive
more than 50 percent of the State's allocation.
TERMS:
Activities will be carried out under a one or two-year program. A Grant
Agreement will be executed which outlines the terms and conditions of the
program.
FEES:
None.
CONTACT:
NOFA Information, application packets, and a
list of designated places (target
communities) are available on our web site at www.rurdev.usda.gov/mn
or by contacting the Multi-Family Housing division at the USDA Rural
Development state office in
St.
Paul
(375 Jackson St., Suite 410; 651-602-7800).
