RRDL: Apply through the 2015 Request for Proposal
Minnesota Housing will soon be announcing the availability of up to $7.5 million in funds for moderate rehabilitation of existing affordable rental housing in Greater Minnesota through the Rental Rehabilitation Deferred Loan (RRDL) Pilot Program.
We encourage proposals with the following priorities:
Preservation of affordable housing opportunities in Greater Minnesota where the lack of affordable workforce housing is a barrier to economic prosperity.
Preservation of properties that contain existing Federal Assistance or other critical affordable units at risk of loss.
Complete application materials will be available on July 7, 2015
Rental Rehabilitation Deferred Loan Pilot Program funding is available for both Specific Project and Program Model activities through the RFP. Applicants may simultaneously submit applications for multiple project and /or program activities.
$ 1.9 million in zero-interest, deferred payment, 10% forgivable loan funds for Owners of Specific Projects outside the 7 county metropolitan area and RRDL Administrator areas.
$ 4.1 million in zero-interest, deferred payment loan funds for existing and prospective Administrators for 10% forgivable RRDL Program Model loans.
$ 1.5 million in zero-interest, deferred payment loan funds for existing and prospective Administrators for the 100% forgivable RRDL Program Model loans.
Applications must be received by 5:00 p.m. on Monday, August 24, 2015.
Contact Susan Haugen at 651.296.9848.