Grant funds to be used to rehabilitate 20 owner-occupied homes in targeted area
The City of Mountain Lake has been awarded Small Cities Development Program (SCDP) grant funds by the State of Minnesota to dig and complete a new well – as well as to rehabilitate approximately 20 owner-occupied houses. Rehab activities will include correcting structural deficiencies and code violations, improving energy efficiency, health and safety concerns and accessibility. Additionally, homes will be tested for lead paint, mold, radon and asbestos.
The target area for the housing rehab – the western half of the city – was selected because a large number of those returning the Fall 2013 SCDP questionnaire were low-to-moderate income homeowners living in that part of the city. Priority will be given to homeowners in the target area who indicated an interest in housing rehab. (A map of the targeted area can be viewed at Mountain Lake City Hall.)
A town meeting to explain the program will be held on Monday, September 8, beginning at 6 p.m., in the City Council Chambers in Mountain Lake City Hall, located at 930 3rd Avenue. Western Community Action (WCA) will be administering the program on behalf of the City of Mountain Lake.
The grant will provide 80% of each project’s cost. The remaining 20% will be drawn from a variety of sources, including owner funds, bank financing, Minnesota Housing Finance Agency (MHFA) funds, weatherization, Energy-Related Repair funds and Lead Hazard Control grants.
The SCDP funds will be in the form of a 0% deferred loan, with 10% forgiven each year the homeowner lives in the house. The average deferred loan will be $18,300.
To qualify for these funds, a household’s income must be at, or less than, 80% of area median income.
If there is a shortage of those applicants, other applicants from the target area will be given the opportunity to apply.
