Rental Rehabilitation Deferred Loan (RRDL)
The Rental Rehabilitation Deferred Loan Program helps owners of small to medium rental properties located outside of the five-county metropolitan area (Ramsey, Hennepin, Anoka, Washington, Dakota) to finance moderate rehabilitation of structurally sound residential rental units.
Applications for RRDL funding are now closed.
Up to seven million dollars in state appropriations associated with the RRDL Program is now available through a one-time Request for Proposals (RFP). Fund are administered through the RRDL program for the rehabilitation of multifamily rental housing that currently have a USDA Rural Development Section 515 mortgage. Funding availability is contingent upon legislative approval of program appropriations and may increase or decrease.
Contact
The RRDL team is available to answer any questions or provide technical assistance.