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The Minnesota Housing Finance Agency has a new preservation initiative, the Rental Rehabilitation Deferred Loan Program, that is designed to help residential rental property owners in Greater Minnesota stabilize small to medium sized rental properties.
The program provides zero interest deferred loans of up to $300,000 for property improvements for aging properties. Cities are eligible to take out loans through this program, as long as their property meets the requirements. City officials may also want to tell property owners in their city about this program.