$25K in Forgivable Loans Open to Homeowners in Goodview
Minnesota — The city of Goodview, in a significant move to enhance the quality of residential living, has secured a substantial grant of $311,897 through the Small Cities Development Program. This funding is earmarked for the improvement of 13 owner-occupied residential properties within the city limits. The grant is now accessible to all qualifying residents of Goodview, based on income criteria, offering a unique opportunity to upgrade and maintain their homes.
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This grant comes in the form of a 10-year deferred loan/grant, which is particularly appealing as it is 100% forgivable after a decade. Homeowners can utilize these funds for a variety of essential home improvements. The scope of eligible improvements is broad, covering critical areas such as window replacements, siding, roofing, and furnace installations. Additionally, the grant can be used to address accessibility and safety concerns, enhance energy efficiency, and make necessary electrical and plumbing upgrades, among other improvements. This wide range of eligible uses makes the grant an invaluable resource for homeowners looking to improve their living conditions and property value.
However, it’s important to note that the availability of these funds operates on a first-come, first-serve basis. With time being of the essence, interested and eligible homeowners are encouraged to apply promptly to take advantage of this opportunity.
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The income limits for eligibility are clearly defined for the year 2023, catering to a diverse range of household sizes. For instance, the income limit for a single-person household is set at $51,800, while a two-person household has a limit of $59,200. This scale progresses up to households of six or more, for which specific information can be requested. These limits ensure that the assistance is targeted toward those who need it most, making the program an equitable and valuable resource for the community.
This program represents a collaborative effort between the city of Goodview, the Minnesota Department of Employment and Economic Development (DEED), and the Southeastern Minnesota Multi-County Housing & Redevelopment Authority (SEMMCHRA). This partnership underscores a commitment to improving housing standards and supporting the residents of Goodview.
Residents interested in applying or seeking more information about this program can reach out to Sara Fuher at SEMMCHRA. She is available at 651-565-2638 ext. 221, or via email at sara.fuher@semmchra.org. This initiative is part of an equal housing opportunity program, ensuring fair and open access to all eligible residents of Goodview.
In summary, the city of Goodview is offering a remarkable opportunity for homeowners to enhance their properties through a forgivable loan/grant program. With a substantial amount of funding available and a wide range of eligible improvements, this program is set to significantly improve the living standards of many residents in Goodview. Prompt application is advised to make the most of this limited and valuable resource.
