Minneapolis Sustainability

350 S. 5th Street, Room 315M
Minneapolis, MN 55415

Down payment program guidelines available for review

Public review period ends March 27, 2008

The City of Minneapolis is asking for input on a new loan program to provide Minneapolis homebuyers with down payment assistance. A draft of the Minneapolis Advantage Demonstration Loan Program guidelines will be available for public review until March 27, 2008 at 4 p.m. Please read the draft guidelines and submit comments to: Mark Anderson at mark.anderson@minneapolismn.gov or by mail: City of Minneapolis, CPED, 105 Fifth Ave. S., Suite 200, Minneapolis MN 55401-2534, Attn: Mark Anderson.

Because a significant rise in foreclosures has resulted in disinvestment and vacant and boarded homes in the City, Minneapolis Mayor R.T. Rybak asked the department of Community Planning and Economic Development (CPED) to design a program to provide down payment assistance for potential homebuyers to purchase homes. This proposed program to help rebuild the housing market will be available in neighborhoods that have a high concentration of vacant and boarded buildings.

For questions, please contact Mark Anderson at (612) 673-5289.

View guidelines (pdf)

The public hearing will be held on Tuesday, March 25, at 1:30 p.m. before the Community Development Committee of the Minneapolis City Council. The hearing will be held in Minneapolis City Hall, 350 South Fifth, Room 317.

Feb. 11, 2008

Published Feb 11, 2008