Print Back to Calendar Return
HRA Regular
Meeting Date: 11/06/2019  
Subject:    Home for Generations II Homeowner Eligibility
From: Kristin DeGrande, Housing Programs Coordinator

The Home for Generations II home improvement program was introduced as a new program in 2013.  Since that time, 143 homeowners have received funding through this program.  Some of those recipients are requesting to utilize the program again for additional value-added improvements to their home; however, the guidelines don't specifically address this issue.
The Home for Generations II program offers grants, building permit rebates, subsidized visits with architects and low-interest loans to homeowners completing at least one value-added interior remodel at their home when the total value of the scope of work totals $35,000 or more.  Eligible value-added projects include: major kitchen remodel, basement finish, major bathroom remodel, room addition, adding of a bathroom, moving/removing interior walls, and others.  Since the inception of this program in 2013, there have been just over 400 applications, 143 recipients, $547,000 worth of grants/rebates awarded, $2 million financed and $8.9 million worth of home improvements leveraged in the housing stock of this community. 

This program is funded by both the HRA and the Coon Rapids Home Improvement Foundation.  The HRA funds the grants, building permit rebates and some of the architectural consultations through this program.  The Coon Rapids Home Improvement Foundation (CRHIF) funds the remaining architectural consultations and all of the low-interest loans.  The CRHIF already has wording in their Home for Generations II loan eligibility guidelines that allow past recipients to re-apply for subsequent loans if they choose to do so as long as the combined outstanding loan balance does not exceed the maximum loan amount of $50,000.  The program guidelines approved by the HRA back in 2013 do not address the idea of repeat participation from recipients.  Staff is recommending a modification to the guidelines to allow past recipients to apply and receive funds more than once, but in no case would the total amount of incentive grant assistance exceed $5,000 per recipient, per property.
Staff recommends that the HRA approve the attached Home for Generations II guidelines to allow past program recipients to utilize the program again for additional value-added improvements to their home.

HFG-II Guidelines

AgendaQuick©2005 - 2020 Destiny Software Inc., All Rights Reserved