Corcoran Neighborhood: Housing

HOUSING

CNO Housing Committee

These residents work to improve the quality of Housing in the neighborhood by connecting property owners to CNO and outside Housing programs.

Committee members:

·         Seek input and encourage involvement from homeowners and renters, both English- and non-English-speaking. CNO’s outreach and homeowner education efforts following 1997 hailstorms helped replace over 70% of the neighborhood’s roofs.

·         Develop and implement programs for home and rental property owners with Neighborhood Revitalization Program (NRP) funds. CNO subsidies allow funding to reach homes with the greatest need for rehab, or requiring emergency or code violation repairs, and make rehab affordable for more residents. The revolving nature of CNO loans creates program sustainability.

·         Promote CNO and outside Housing programs through mailings, media spots, and direct contact with fellow residents. Identify, seek, and gather funding from outside sources such as the Minnesota Housing Finance Agency.

·         Encourage rehabilitation, regular maintenance, and use of sustainable materials instead of replacement and demolition, and encourage design features and materials that fit the historical character of the neighborhood.

·         Improve the safety and livability of the community by encouraging lighting, landscaping, and security features that promote visibility, mark boundaries, and deter crime.

·         Recognize and reward residents and rental property owners who demonstrate exceptional home maintenance and pride.

Current Housing Programs

Programs are available to property owners in Corcoran Neighborhood.

·         HOME IMPROVEMENT PROGRAM: 3 and 4% Interest Loans for interior, exterior; rehab, or maintenance. Borrow from $1,500 to $10,000.

·         HOMEBUYER ASSISTANCE PROGRAM: 0% Interest Deferred Loan for Assistance with Down Payment for First-Time Homebuyers, Rehab Assistance, or Rental Conversion. Borrow up to $2,000; forgiven after 5 years. Must be owner-occupied.

·         ZERO-INTEREST EXTERIOR DEFERRED LOAN: 0% Interest Deferred Loan for repair or replacement on the exterior of house or garage at qualifying properties. Borrow up to $5,000. Must be owner-occupied.

·         Remodeling advice, estimate review services, and construction consultation are available through CNO’s partnership with Center for Energy and Environment.

·         Additional information is available at Center for Energy and Environment’s website:

      http://www.mncee.org/frame_crr.htm