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Aitkin County offers loans and grants to encourage affordable housing; builders urged to apply
Summary
A county economic development representative said Aitkin County’s housing trust fund (created in 2024) and a revolving loan program can provide low-interest gap loans, grants for soft costs and redevelopment incentives to support single-family and multifamily affordable housing. Builders were invited to apply online or by phone.
An unidentified economic development representative for Aitkin County urged local builders on the county program 'Coffee with the County' to take advantage of new financing and grant options aimed at spurring affordable housing construction.
The speaker said the county’s housing trust fund, created in 2024, has "a considerable amount of dollars" available to support housing projects for both multifamily developers and local builders. The office also operates the Aitkin County Housing Development revolving loan fund, described as a source of lower-interest, gap lending for qualifying projects.
The representative outlined the types of projects the county will consider: new construction (single-family and multifamily), land acquisition, infrastructure improvements, adaptive reuse of commercial buildings and rehabilitation or redevelopment of existing housing. He said the county will help applicants through the loan process: "Come in and see us, and again, we'll we'll talk you through the loan process," the host said.
Officials also described two grant-level incentive streams. Builder incentives can cover soft costs such as permit and plan fees, architectural and engineering services, surveys, soil testing and utility connection fees. Separate property redevelopment incentives can fund demolition, site clearing, environmental remediation, property acquisition support, site preparation or grading to ready parcels for new housing.
Applications and program details are posted on the Aitkin County website under Economic Development; the host called the applications "easy" and encouraged builders to apply. Builders may also call county staff at (218) 513-6188 to arrange a meeting to discuss project-specific support.
There was no vote or formal decision recorded during the program; the segment served as outreach and information for builders and developers. County staff did not announce deadlines or detailed underwriting criteria on air; interested parties were directed to the website or county offices for application instructions and eligibility requirements.
