Minnesota Housing announces the availability of up to $330,000 in grant funds through the Family Homeless Prevention and Assistance Program (FHPAP) for the term April 1, 2014 to June 30, 2015 for services in the Twin Cities seven-county metropolitan area.
Eligible Applicants: Open to current metro FHPAP grantees applying individually or jointly.
Priority will be given to applicants who show ability to serve Twin Cities metro communities not currently covered by FHPAP.
Up to $4.5 million is immediately available through a network of Local Administrators.
Preserving Minnesota's Aging Housing Stock
Minnesota is launching a new preservation program that is well suited to help building owners in greater Minnesota stabilize small-medium size rental properties. The program provides zero interest deferred loans of up to $300,000 for property improvements for aging properties. Greater Minnesota contains 40% of Minnesota’s rental housing stock, an estimated 223,500 units. This important supply of rental housing stock is also aging with 2/3 of rental units built before 1980 and 1/3 of which were built before 1960.
On January 1, 2014, the Agency's pipeline process for requesting deferred funding resources for preservation will be suspended through September 2014. Consistent with the need for a more proactive approach to preservation, the Agency will work over the next few months to identify and contact owners of selected properties regarding funding available under a preservation pilot.