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Introduction
to NENA's Housing Programs
NENA is pleased to continue into 2007 its fourth round of housing programs aimed at improving the housing stock in Nokomis East. 
In our largest-ever group of programs, NENA allocated over $760,000 of our remaining Phase 1 NRP (Neighborhood Revitalization Program) funds to the program, which currently includes low interest loans and emergency grants. In addition, we set aside $20,000 to buy down MHFA interest rates from 5 to 4 percent through our progarm administrator, which makes an additional $500,000 available to NENA for home improvements in our community. If you have been thinking of remodeling your kitchen, replacing your siding, upgrading your electrical, building a new deck, or just about any other home improvement project, you may borrow up to $10,000 at great interest rates through NENA. We surveyed past housing program participants and made changes to our program based on the survey results and comments. We tripled the amount of funds available for deferred loans (over $300,000 that year as compared to less than $100,000 in previous programs). We increased the maximum loan and grant amounts (up to $8,000 for deferred loans, $10,000 for low interest loans, and $4,000 for emergency grants), and adjusted interest rates for the loan programs to reflect lower market rates. We are also pleased to announce a new administrator for the program, the Center for Energy and Environment (CEE). Loans are available for owner-occupied and rental housing with up to, and including, four dwelling units located within the boundaries of Nokomis East. Low interest loans will be available on a first-come, first-served basis.
New applications are NOT being accepted for the Deferred Loan or Part 150 Sound Insulation programs. As in the past, we expected considerable interest in these programs. The demand for deferred loans far exceeded the funds available, so NENA Staff, volunteers, and neighborhood residents conducted a lottery on September 30, 2003, to establish the order in which applications are processed. (The lottery was for the deferred loan program only, which has since expended its funds.) Homeowners interested in the deferred program were asked to submit a short preliminary application, which served as a lottery entry. Over 100 entries were ranked and those whose lottery ranking qualifies them to apply for a loan were notified and asked to complete and return a full loan application to the Center for Energy and Environment (CEE). A summary of the program guidelines and other services offered was provided in the Fall 2003 NENA Review. The complete guidelines are available at the NENA office, online (see box at right), and from CEE. Recipients of previous NENA Loan Programs (low interest loans, deferred loans and deferred matching loans) are not eligible for additional low interest or deferred loans. However, CEE has several financing options available to you at attractive rates if you have home improvement needs you would like to address. These programs are independent of the NRP funded programs. Please contact CEE at (612) 335-5884 for additional information. Contacts
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NENA Housing Improvement Programs
NENA
Programs Page
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