The Home Ownership Program
The Home Ownership Program, a partnership with the Greater Metropolitan Housing Corporation offers affordable home ownership opportunities to buyers with incomes at or below 80% of the metropolitan median income (MMI).
This program is funded using federal Community Development Block Grant (CDBG) funds. In addition to funds available to the developer for the construction gap, the City provides up to $30,000 in affordability gap financing to the homebuyer in the form of a deferred loan due and payable at the time of sale of the property.
Staff from CPED and GMHC review and discuss development opportunities and select sites to pursue.
Contact Person: Earl Pettiford, (612) 673-5231
Earl.Pettiford@ci.minneapolis.mn.us
Last updated Apr. 17, 2012