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Funding is also available to assist homebuyers with down payment and closing cost assistance. <br />Entry cost assistance can include local down payment assistance programs, employer assisted <br />housing, and partnering to participate in the MHFA Entry Cost Homeownership Opportunity <br />(ECHO) Program. <br /> <br />Department of Trade and Economic Development <br />Community Development Block Grant - Small Cities Development Program <br />Local Units of Government are the applicant with the Local Unit establishing terms, target areas <br />and uses. Eligible uses are acquisition and demolition, site improvement, rehabilitation, <br />assessment abatement, down payment/closing costs, construction costs, and administration costs. <br /> <br />Redevelopment Grant <br />This program provides grants to development authorities (cities, counties, port authorities, <br />HRAs, and EDAs) for land acquisition, demolition, infrastructure improvements, ponding, <br />environmental infrastructure and other eligible redevelopment costs. Grants pay up to 50% of <br />redevelopment costs for a qualifying site. <br /> <br />USDA Rural Development <br />Rural Housing Home Loan <br />Provides fixed-rate loans to low to rnoderate income families for new or existing single-family <br />homes. <br /> <br />504 Program <br />Provides low-income homeowners with loans or grants to make necessary improvements. <br />Grants are only available for very low-income households, 62 years or older. <br /> <br />Rural Rental Housing Loans <br />Provides funds to build, purchase, and repair apartments along with rental assistance for low- <br />incomes residents. <br /> <br />Public Facilities Program <br />Grants and low interest loans for public facilities <br /> <br />Central Minnesota Housing Partnership <br />The Central Minnesota Housing Partnership offers a broad range of housing services. The <br />following are some samples of the programs and services they offer including: <br /> <br />Home Rental Rehabilitation- CMHP administers these funds which are used to assist owners of <br />affordable apartments make needed repairs on their buildings. <br /> <br />Affordable Mortgage Products - CMHP now originates loans to better serve rural communities <br />with affordable lending resources. CMHP works with local lenders to access more resources <br />resulting in the most affordable payments possible. <br /> <br /> <br />