Affordable Housing

Loe Real Estate.......................320-765-2261
Kirk's Auction & Realty.............320-765-2555
Subsidized Apartments.............320-269-6640

Sacred Heart now has lots priced at $500 for construction of new houses.

News Release

Pre-Applications Available for Housing Fix-Up Funds

Property owners in Renville County can help the county qualify for up to $1.2 million in housing repair funding and at the same time get their name on the list to qualify for financing if the grant funds are received. The Renville County HRA/EDA is working with Southwest Minnesota Housing Partnership and most communities across Renville County to apply for Small Cities Development Grant funding in the fall of 2008. As of this time, it appears likely that the City of Fairfax will not participate because it has existing Small cities funding.
In order to qualify for the funding, the county will need to receive enough pre-applications from interested property owners to demonstrate that the funds will be used if they are granted to the county.
If the funding is received, 0% interest loans which will be forgiven under some circumstances will be available for up to 60% of the cost of basic repairs. The program administrators will assist qualifying borrowers to arrange for the remaining 40% of repair costs. Eligible repairs include roofing, foundations, siding, windows, doors, heating, electrical and plumbing.
For owner occupants, the maximum household income to qualify ranges from $31,750 for a one-person household to $45,350 for a household of 4. 10% of the loan will be forgiven each year that the household remains in the home.
For rental properties, the landlord must agree to control rents during the term of the rehab loan at no more than local Fair Market Rents and to rent at least 51% of the units to households with incomes of less than $31,750 for a household of one ranging to $45,350 for a household of 4. 20% of the loan will be forgiven each full year the property remains in compliance.
Pre-applications are available at the Renville County HRA/EDA office at 500 E. DePue Avenue in Olivia or by calling 320-523-3656. Applications must be received by August 8, 2008.
For more information about this program, property owners are encouraged to attend community meetings which will be held on July 29th at 5:30 p.m. at the Olivia Community Center and at 7:30 p.m. at Morton City Hall.