CC PACKET 11132007 - Laserfiche WebLink

Home Browse Search

Northeast Housing Resource Center Rehab Incentive Program Program Overview and Guidelines 909 Main St. NE Minneapolis, MN 55413 PH: 612-378-7985 FAX: 612-378-7986 The St. Anthony Village Rehab Incentive Program is designed to assist homeowners in maintaining and improving their current housing in order to foster stabilization and revitalization within the participating communities. Important Note: Do not purchase any project materials or let your contractor(s) begin any work until you have signed a participation agreement in our office. All documents, including contractor bids and/or Sweat Equity Application must be reviewed before we can schedule the participation agreement appointment. Rebate Payment: The rebate payment will be 10%, 12%, or 15% of the project cost depending upon household income with a maximum payment of $3,000 per household. Income limits: Rebate percentage will be based on gross annual income from all sources. Up to - $39,250 =15% rebate payment $39,251- $59,600 =12% rebate payment $59,601- $90,275 =10% rebate payment $90,276 or more ineligible Eligible Properties: Any owner occupied single family or multi -family dwelling, which upon completion will be converted to a single family housing unit within the participating communities. Single family includes owner occupied duplexes. Ineligible Improvements: This includes recreational or luxury improvements, projects not permanent in nature, working capital, payment for owner's labor, debt service or refinancing existing debts, and other expenses determined by the Housing Resource Center (HRC). Application Process and Procedures 1. Return the following forms to the HousingResource Center. • Completed application that includes the scope of work (detailed list of proposed projects). • Income verification: two most recent pay stubs from each of the household members, and any other verification of income from other sources. • Copy of your most recent property tax statement • Sign Contractor Acknowledgement form • Copy of project bid(s) • All applications will be reviewed on a first-come first-served basis 2. Documents will be reviewed for compliance with the established program guidelines. If documents are missing, incomplete, or not approved, the homeowner will be notified. 3. A scope of work must be submitted with the application. The HRC Construction Manager can assist with writing a scope of work if needed upon request. 29