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^0~ Central Minnesota Housing Partnership, Inc. <br />^~~ <br />~~~: September 27, 2006st St. Germain Street Suite 303 . St. Cloud .Minnesota .56301-4092 <br />TO: Housing & Redevelopment Authorities <br />County Commissioners <br />Economic Development Authorities ~ ~ ®QMATION <br />Community Action Councils <br />Rural Development Offices <br />FROM: Deanna Hemmesch, Program Manager <br />Central Minnesota Housing Partnership <br />RE: HOME Rental Rehabilitation Program Funding Availability <br />The Central Minnesota Housing Partnership (CMHP) expects to receive approximately $1,000,000 <br />in funding from the Minnesota Housing Finance Agency to administer the HOME Rental <br />Rehabilitation Program (HRRP). Applications are currently being accepted for this program at <br />CMHP offices until Monday, February 12, 2007. Counties included in the CMHP's service area <br />include Aitkin, Benton, Carlton, Cass, Chisago, Crow Wing, Isanti, Mille Lacs, Morrison, Pine, <br />Sherburne, Stearns, Todd, and Wright (excluding the city of St. Cloud). This program offers rental <br />property owners a deferred loan for project costs to rehabilitate their buildings. Projects that are <br />selected for funding will require an application fee in order to move ahead. Eligible building <br />improvements include but are not limited to roofs, siding, windows, major systems updating, floor <br />coverings, and painting. HRRP funding is available only to properties that meet certain rent limits <br />and tenant income limits. In addition, projects approved for this program must agree to maintain <br />rent and income limits for at least five years. <br />Please pass this information to interested rental property owners and have them contact me to obtain <br />application materials needed for the February 12th deadline. This information will be used to <br />evaluate each project through the CMHP's selection criteria process. Owners will be notified of the <br />status of their project after a review of all applications is completed. <br />Because of the complex nature of the HRRP, the CMHP will set up a mandatory orientation session <br />for all selected applicants to continue with the application process. All deadlines must be adhered to <br />in order to be considered for funding. Applications postmarked after the deadline stated, will be <br />considered ineligible for 2007 funding. The information being requested for the February 12th <br />deadline is apre-application. Selected applicants will be informed of all the remaining materials that <br />need to be submitted at the orientation session. <br />***NEW PROGRAM FOR RENTAL PROPERTY OWNERS*** <br />Additional information has been sent to you for a new program administered by CMHP. It is the <br />Rental Rehabilitation Loan Program. This program is an open pipeline and can be accessed at any <br />time. The program has state funds and so it is less restrictive than the HOME Rental Rehabilitation <br />program. However, it is pay back loan with a 6% interest rate. Owner can apply for this funding <br />separately or in addition to the HOME Rental Rehabilitation Funds. Attached please find a brochure <br />on this program. For more information or an application call Deanna at (320) 259-0393. <br />PH 320.259.0393 -AMINNESOTANONPROFITCORPORATION- E-MAID cmhp810@cloudnet.com <br />MN TDD 711 E°°~H°~5w~ <br />OPPORTUNITY WEB PAGE cmhp.net <br />FAX 320.259.9590 Equal Opportunity Employer <br />Reasonable accommodations are available <br />