0% Deferred Loan Funds Available for Rental Housing Rehabilitation
Clay County HRA has funds available through the Rental Rehabilitation Deferred Loan Program (RRDL). Rental Units must be located in Clay County and meet rent and income limits. Funds are in the form of an interest-free deferred loan with principal due in full at the end of the loan term.
Loan amounts up to $35,000 for single family homes or duplexes or $25,000/unit for larger developments. There is a $300,000 maximum loan amount and a $25,000 minimum. Up to 25% of the loan may be forgiven with proper program compliance. Rent and income limits must stay in place for the term of the loan.
For more information call the Clay County HRA at 218-233-8883.