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Blue Earth County EDA OKs $150,000 for Community Land Trust, approves vouchers and advisory appointment
Summary
The Blue Earth County Economic Development Authority approved $150,000 from the county Affordable Housing Trust Fund to support Phase 5 of the Southwest Minnesota Housing Partnership Community Land Trust and authorized a Minnesota Housing-backed Bridges voucher agreement; the EDA also appointed a new advisory board member.
The Blue Earth County Economic Development Authority on June 10 approved $150,000 from the county Affordable Housing Trust Fund to support Phase 5 of the Southwest Minnesota Housing Partnership's Community Land Trust, county staff said. The funding will be used to lower purchase costs for homes targeted at households at or below 80% of area median income.
The EDA packet and staff presentation said the land trust application layers multiple funding sources to make homes affordable. Jen Theaneman, director of real estate and community development for Southwest Minnesota Housing…
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