• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Facebook
NEPNA

NEPNA

  • About
    • Information for Developers
    • Meeting Minutes and Handouts
    • Current Financial Information
  • News
  • Local Links
  • Resources
  • Calendar of Events
  • Contact

Northeast Park Neighborhood Association Home Improvement Grant Program Now Available

 

(NORTHEAST PARK: Home Improvement Program)

Program Flyer – English (PDF)
Program Flyer – Spanish (PDF)

Applications available via the Center for Energy and the Environment

PROGRAM GUIDELINES

Program Overview:    NE Park Neighborhood has NRP dollars available that have been designated to help property owners make necessary repairs and improvements.  The intent of this Grant Program is to encourage investment in the neighborhood by maintaining and improving the housing stock.  Other sources of funds are also available, such as MHFA and CEE, which may be used to supplement this program.

Grant Program

  1. Interest Rate: None
  2. Grant Amount: Minimum of $1,000; Maximum of $3,000
  3. Program Match: There is no matching requirement for households with income less than or equal to 100% HUD AMI, based on household size.  If household income is greater than 100% HUD AMI the recipient must match each grant dollar (1:1).  Income will be verified by a copy of the most recent Federal Tax Return.  If a Tax Return is not required to be filed then income will be determined by verifying the projected income over the next 12 months.
  4. Income Limit: No maximum income limit; however, project acceptance will be weighed on a needs basis for individuals who have projects that are critical for safety and security of their homes.  A copy of the most recent Federal Tax Return will be used to determine if a Program Match is required.  If a Tax Return is not required to be filed then income will be determined by verifying the projected income over the next 12 months.
  5. Grant Term: N/A
  6. Eligible Properties: Owner occupied 1-4 unit properties located within the boundaries of the NE Park Neighborhood.  Individual condominiums, townhomes and properties held in a trust are eligible.
  7. Ineligible Properties: Properties with more than 4 units, co-operatives, manufactured homes, time shares, and properties used for commercial purposes.
  8. Eligible Recipients: Owner occupants of 1-4 unit properties within the NE Park Neighborhood who meet the program guideline criteria.
  9. Ineligible Recipients: Include, but are not limited to: co-borrowers with no ownership interest in the subject property and business entities (Associations, Corporations, Partnerships, LLC, etc.).
  10. Ownership / Occupancy: Property must be owner occupied. (NEPNA will review eligibility at 6 months and a year of home grant program to determine eligibility of non-owner occupied 1-4 unit properties located within the boundaries of the NE Park Neighborhood).
  11. Equity: N/A
  12. Debt- to-Income Ratio: N/A
  13. Underwriting / Credit Requirements: Applicants must be current on all mortgage payments and property taxes.
  14. Multiple Grants per Property/Applicant:  Applicants may receive multiple grants, but the combined amounts are not to exceed the program maximum grant amount.
  15. Eligible Improvements: Most interior and exterior improvements
  16. Ineligible Improvements: Work initiated prior to the loan being approved and closed. No recreation or luxury projects (pools, lawn sprinkler systems, playground equipment, saunas, whirlpools, etc.), furniture, and non-permanent appliances. Generally shrubs, trees and landscaping are ineligible improvements unless there is a safety or structural issue. Funds for working capital, debt service or refinancing existing debts are NOT allowed.  CEE will defer to NEPNA chair whenever eligibility of an improvement project is in question.

Additional details available in the Program Guidelines (PDF)

Applications available via the Center for Energy and the Environment

Program Flyer – English (PDF)
Program Flyer – Spanish (PDF)

FacebookTwitterEmailLinkedInPrint

Primary Sidebar

events

Upcoming Events

Footer

Stay Informed

Subscribe to receive the latest news from NEPNA

  • This field is for validation purposes and should be left unchanged.

Our Neighborhood

Northeast Park is a neighborhood in the Northeast community in Minneapolis, Minnesota. Its boundaries are 18th Avenue and New Brighton Boulevard to the north, the city limits to the northeast, Interstate 35W to the southeast, Broadway to the south, and Central Avenue to the west.
Copyright © 2023 · Northeast Park Neighborhood · All Rights Reserved · Privacy Policy · Developed by Vivid Image · Log in