The City of Le Sueur will be applying for a rehabilitation assistance grant through the MN Department of Employment and Economic Development’s (DEED) Small Cities Development Program. If awarded, funding would be available to eligible properties within a proposed target area in the City of Le Sueur. An informational meeting will be held on Wednesday, October 5th at Le Sueur City Hall to learn more about the rehab program for single-family homeowners, landlords of rental property and commercial property owners. Attendance by those in the target area is important. Survey/pre-applications requirements will be handed out and discussed.
Single Family Homeowners: This will be a 0% deferred loan for 70% of rehabilitation (includes no monthly payments for ten years if the property doesn’t change ownership). Eligible repairs may include roofing, foundations, siding, windows, doors, heating, electrical & plumbing, health & safety, lead hazards and accessibility.
All households will receive a survey/pre-application packet. Whether or not you want home repair funds the City requests you complete the short survey. Households interested in home repair funds also need to submit the short pre-application on the back. All answers are confidential and will not be read by City staff. Surveys/pre-applications are due Tuesday, October 20th, in the City’s Utility Drop Box or can be mailed to the Southwest Minnesota Housing Partnership, 2401 Broadway Ave., Slayton, MN 56172.
The following household income limits apply: 1 person $41,400 / 2 persons $47,300 / 3 persons $53,200 / 4 persons $59,100 / 5 persons $63,850 / 6 persons $68,600.
Rental Property Owners (Landlords): This will be a 0% deferred loan for 70% of rehabilitation (includes no monthly payments for five years if the property stays in compliance). Eligible repairs may include roofing, foundations, siding, windows, doors, heating, electrical & plumbing, health & safety, lead hazards and accessibility. Tenant income and Fair Market Rent limits apply. Pre-applications will be available at the meeting.
Commercial Property Owners: This will be a 0% deferred loan for 40% of rehab (includes no monthly payments for 5 years if property doesn’t change ownership) / 40% as 2% installment loan (10 years) / Owner contribution for other 20% of rehab. Eligible repairs include exterior renovations, structural, mechanical, electrical system, windows, doors, accessibility modifications, awnings and energy improvements. Pre-applications will be available at the meeting.
If you can’t attend the meeting and have questions, please contact the City of Le Sueur at (507) 665-6401; or the Southwest Minnesota Housing Partnership at (507) 836-1607