Financial Aid for Home Repairs Announced in Rollingstone and Altura
Are you a homeowner in Rollingstone or Altura grappling with the need for a new roof or a furnace upgrade? There’s good news for you as the cities of Rollingstone and Altura have recently been granted a substantial sum of $524,400. This financial aid comes from the Small Cities Development Program (SCDP), administered through the Minnesota Department of Employment and Economic Development (DEED). The funding aims to facilitate improvements on 19 owner-occupied residential properties, all within the city limits of Rollingstone and Altura.
Under this initiative, homeowners can apply for up to $25,000 to put toward their housing rehabilitation projects. The unique structure of this funding allows it to function as a 10-year deferred/forgiven grant/loan. Therefore, homeowners don’t need to stress about immediate repayments. But, it’s important to note that the assistance will be offered on a ‘first come, first served’ basis. Hence, eligible homeowners are encouraged to send in their applications promptly.
This program is primarily targeted toward owner-occupied residents who fall within certain income limits set for 2022. To qualify, you need to meet the following income thresholds: $48,950 for a single person; $55,950 for a two-person household; $62,950 for a three-person household; $69,900 for a four-person household; $75,500 for a five-person household; and $81,100 for a six-person household.
If you’re within these income brackets and your home requires necessary repairs or upgrades, you are eligible for assistance. The program caters to a broad range of improvements that encompass health and safety measures, energy efficiency enhancements, and accessibility modifications. Examples of such improvements include roof and window replacement, siding, electrical service panel upgrades, furnace and AC servicing, plumbing, and bathroom accessibility enhancements.
To learn more about the program guidelines, and eligibility requirements, or to apply for the program, reach out to Tressa Sauke at SEMMCHRA at 651-565-2638 ext. 204 or via email at [email protected]. This program is an equal housing opportunity program, designed to accommodate homeowners irrespective of their backgrounds.
