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HRA accepts Minnesota Housing Impact Fund award to support down-payment and homeowner rehab programs
Summary
The HRA voted unanimously to accept an award from the Minnesota Housing Community Homeownership Impact Fund to provide resources for the Downtown Down Payment Assistance Program and a citywide Homeowner Rehab Program; staff said they had applied previously and were awarded funds and will return with final program guidelines.
The St. Paul Housing and Redevelopment Authority voted 5-0 to accept award funds from the Minnesota Housing Community Homeownership Impact Fund to support the Downtown Down Payment Assistance Program and the Homeowner Rehab Program citywide.
Director Newton told commissioners the HRA applied for the Impact Fund in July of the prior year and has been awarded funds; staff recommended approval so the programs can relaunch. Newton said some final administrative details remained to be completed but the HRA is prepared to restart the down-payment assistance program and continue homeowner rehabilitation work.
During discussion commissioners noted the timing is favorable given a broad supply of homes on the market, and they expressed support for using the funds to help St. Paul residents remain in the city. Commissioners did not dispute staff’s characterization; the motion to accept the award was moved and the resolution carried 5-0.
Staff indicated they will return with final program guidelines and more specific details about administration and eligibility.
