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Housing and Redevelopment Authority: HRA informational links:
Community Development Divisions:
Related links: |
CEP II: New home rehabilitation loanInformation about the CEP II programA new home rehabilitation loan is being offered through the Bloomington Housing and Redevelopment Authority's Community Enhancement Program (CEP II) and Hennepin County to foster the continued renewal and preservation of residential neighborhoods in Bloomington. This deferred rehabilitation loan, which does not have monthly payments, will be available to owners of single-family homes who live within the designated boundaries east of I-35W, west of Highway 77 and south of American Boulevard in Bloomington. See map, below. The maximum loan amount available is $35,000. The borrower must have sufficient equity in the home to support the amount borrowed. Income and home value limits apply. Eligible improvements include, but are not limited to, siding, windows, reroofing, replacement of mechanical systems, decks, patios, three-season porches and garages. Participants in the program will have their home rehabilitation loan deferred at 4 percent interest for the first 10 years. After 10 years, no additional interest will accrue. The loan is payable upon sale, transfer of ownership or when the home is otherwise no longer occupied by the applicant. We are currently not processing new applications for the CEP II program. Applications received will be placed on hold until existing applications have been exhausted, provided funding is still available. For additional questions, contact HRA Program Specialist Brian Duerwachter at 952-563-8939 or e-mail bduerwachter@ci.bloomington.mn.us. Download an applicationWe are currently not processing new applications for the CEP II program.
Chart of maximum qualifying incomes for CEP II loans
Boundaries of eligible home area (darker peach color)
For more information, contact:
Brian Duerwachter
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