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Click here for a print quality PDF - Updated 6-24-2010
Marshall Radio
SCDP Information Meeting Power Point Presentation
Western Community Action Housing Programs
The City of Marshall received a Small Cities Development Program (SCDP) grant in the amount of $522,500 to rehabilitate 25 owner-occupied houses. Staff had originally requested $526,600 for the SCDP grant. The SCDP target area is a large portion of the old city near the original industrial development sites and railroad tracks, adjacent to Marshall’s downtown and athletic fields. The target area consists of 365 owner-occupied units with approximately 21% of the housing stock built prior to 1940, representing one of the oldest parts of the City off of the downtown area.
The funding is offered to individuals as a 10-Year Deferred Forgivable Loan with no interest. Each year, one-tenth of the amount is forgiven assuming that the person continues to live in the home and meets other criteria. The program requires a minimum of $150,400 in privately leveraged funds. These leveraged funds can be in the form of owner cash contribution, private loans or other loan packages offered through the Greater Minnesota Housing Fund.
Income Guidelines: 2010 Area Median Family Income Limits (80%): 1 person $35,000/2 persons $40,000/3 persons $45,000/4 persons $50,000/5 persons $54,000/6 persons $58,000/7 persons $62,000/8 persons $66,000 (these amounts are adjusted each spring)
The project must meet one of three federal objectives:
1. Benefit low-to moderate-income people.
2. Eliminate slum and blight conditions.
3. Eliminate an urgent threat to public safety.
A public informational meeting will be taking place in the future to learn more about financing for repairs to your home. Come to this meeting to see how this project could benefit you!
Below is the City of Marshall Target Area.
Small Cities Grant Target Map-Aerial (47)
Housing Rehab-Example Financing (51)
2010 SCDP O-O APPLICATION (23)