$459,000 in housing grants for St. Paul

February 14, 2012

by Minnesota RealEstateRama

Category: News || Grants, Housing & Development | 2 Comments

Congresswoman Betty McCollum today announced $459,000 in grants for St. Paul housing groups.

February 14, 2012 – (RealEstateRama) — Community Neighborhood Housing Services and BankCherokee were awarded $159,000 to rehabilitate 30 homes and help struggling homeowners with home repairs, including roof replacement, structural repairs or landscaping and energy efficiency improvements with $5,000 in forgivable, no-payment loans.

“Between declining family incomes, the foreclosure crisis and aging housing stock, there is a growing need for a project like this in St. Paul,” said Jason Peterson, executive director, Community Neighborhood Housing Services. “The grant provides an incredible incentive for homeowners to complete needed maintenance work on their homes.”

And St. Paul-based South Metro Human Services will use its $300,000 grant to remodel a vacant building into a residential and therapeutic treatment facility for mentally ill adults. Officials say the project will provide 16 units of transitional housing and help residents with stabilization and recovery.

The grants, from the Federal Home Loan Bank of Des Moines Affordable Housing Program, are intended to assist in the development of affordable owner-occupied and rental housing for very low-to-moderate income households. During its most recent round of Affordable Housing Program grants, the bank awarded $15 million through its member institutions, including Bremer Bank and BankCherokee, to fund 45 housing projects, which will help create or renovate 1,800 housing units across five states. Over $4 million was committed to projects in Minnesota

Congresswoman Betty McCollum