Southeast Como Senior Emergency Grant
The intent of the SECIA Emergency Grant is to provide funds to owner-occupants of properties who face emergency home repairs and are unable to obtain funds to repair the problem(s) through traditional funding (loan) sources.
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Definition of Emergency:
An emergency is defined as a condition that makes a house uninhabitable, extremely dangerous to the occupants, or is capable of causing severe health problems.
About the Grant
- Grant amounts from $1,000 to $7,500.
- Income limit of 80% area median income (AMI), based on household size and most recent tax return.
- No down payment required.
- Owner-occupied 1-2 unit residential properties located in the Southeast Como Neighborhood.
- At least one of the recipients must be at least 62 years of age.
- Townhomes, Condominiums and properties held in a Trust or Contract for Deed are eligible.
- Loan approval is subject to credit and program guidelines.
- To qualify for this program borrower(s) must not be eligible for any other financing administered by CEE.
- Eligible improvements will be determined through a required analysis of the emergency condition of the property.
- 2 bids are required from properly licensed contractors for projects over $15,000.
- For do-it-yourself projects, a materials list including prices is required. The cost for labor and the purchase of tools may not be included in the loan.
- Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received.
- CEE will assist residential property owners in Southeast Como with assistance in prioritizing and evaluating improvements to their property through a home visit. This service is available regardless of whether the homeowner chooses to obtain a loan. One visit is permitted per household.
The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).