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Home for Generations II - Home Improvement Program <br />Page 2 of 4 <br />Project Funding <br />This program is funded jointly between the City’s Housing and Redevelopment Authority (HRA) and the Coon <br />Rapids Mortgage Assistance Foundation. The maximum grant amount offered through this program is $5,000, <br />but the amount you are specifically eligible for depends upon your total project cost and the type of projects <br />completed. Higher grant amounts will be offered to those projects that increase the curb appeal of the home, <br />therefore providing aesthetic benefit to the entire neighborhood. <br />If your project includes two or more eligible exterior upgrades (see below for examples), your grant would equal <br />10% of your total project cost (not to exceed $5,000). If your project does not include two or more eligible <br />exterior upgrades, or if your project includes interior improvements only, your grant would equal 5% of your <br />total project cost (not to exceed $2,500). Additionally, your Building Permit Rebate will equal 50% of the total <br />amount spent on permits (building, mechanical, electrical, plumbing, plan review, etc) for your entire project. <br />All funds will be available on a first come, first served basis. Funds will be reserved for your project once you <br />sign the Participation Agreement with the City (step 9). <br />Eligible Exterior Upgrades <br />In order to maximize your grant amount, you must include two or more eligible exterior upgrades as part of your <br />home improvement project to enhance curb appeal, such as: <br />¨ Altering the roofline on the front of the house <br />¨ Constructing columns at the front entrance <br />¨ Building a covered front porch <br />¨ Adding shakes, brick or stone on the front of the home <br />¨ Replacing and upgrading the front door and/or garage door if they face the street <br />¨ Landscaping (landscape design consultation required) <br />¨ Other elements as approved before signing the Participation Agreement <br />** Replacement of windows, siding, roofing, driveways, and other similar replacement items will not be <br />considered as eligible exterior upgrades, but they will count towards your total project cost. <br />Project Financing <br />The grant and rebate offered through this program will cover only a small portion of your total project cost. <br />How do you intend to finance the balance of your total project? <br />¨ City of Coon Rapids Home for Generations II low-interest loan (optional - you are still eligible for the grant <br />and rebate even if you don’t apply for this loan). This program offers loans up to $50,000 at a fixed rate of <br />4.5% interest. Homeowners may borrow up to 100% of the improved value of the property and take up to <br />20 years to repay. Two bids for your entire project are needed to apply for this funding. Please contact the <br />Lending Center at the Center for Energy and Environment (CEE) to begin the application process to <br />determine if you can qualify for the loan amount needed for your desired project(s). For more information, <br />contact 612-335-5884, e-mail loaninfo@mncee.org, or visit www.mnlendingcenter.org. <br />¨ Loan or line of credit from your bank or credit union <br />¨ Savings <br />¨ Refinancing my home <br />¨ Other: