Minnesota Housing announced the availability of $10 million in state appropriations through the Rental Rehabilitation Deferred Loan (RRDL) pilot program for the rehabilitation of buildings that currently have a USDA Rural Development Section 515 mortgage. RRDL funds are available as a zero percent-interest deferred loan. Other loan structures may be considered based on project needs. The per unit loan limit is $35,000, and the maximum loan limit is $500,000. More terms of funding can be found in the program guide. Applications are due November 20 by 5 pm CST. Click here to learn more and access application materials.
President Trump’s Administration released the Fiscal Year (FY) 2021 budget request, “A Budget for America’s Future.” HUD is allocated $47.9 billion in funding, a 15.2 percent decrease over FY 2020 enacted levels with notable zeroing out of the HOME program, Community Development Block Grants (CDBG), Public Housing Capital Fund, Choice Neighborhoods and HOPE VI.Read More