Critical repairs for manufactured homes and single-family home rehabilitation: Slipstream to begin two new projects for Ramsey County, Minnesota
Slipstream's new projects will help suburban Ramsey County improve resiliency and invest in its residents. Homes that aren't up to code present a large barrier to weatherization programs and energy efficiency upgrades for many; critical repair and rehabilitation programs let us prioritize health and safety in addition to energy efficiency.
These projects draw on Slipstream's expertise in manufactured housing, fair clean energy finance, and improving community resilience.
Community Development Block Grant – Cares Act/CV Grant for a Critical Repair Pilot Program
Slipstream will use these funds to bring owner-occupied manufactured homes in suburban Ramsey County up to code. Program participation is designed for homeowners who experienced financial hardship and/or physical and/or mental health concerns because of the COVID-19 pandemic.
Slipstream and Rebuilding Together Minnesota, our new local partner, will deliver health and safety repairs for a diverse sector of homeowners who are at or below 80% of the area median income (AMI). We will help as many homeowners as possible complete up to $5,000 worth of critical repairs.
Community Development Block Grant – Single-family Occupancy Home Rehab Loan Program
Slipstream will deliver a rehabilitation program with forgivable or deferred financing for single-family occupancy homes and existing garages in suburban Ramsey County. The program aims to make homes safe, healthy, and resilient.
Slipstream's Energy Finance Solutions (EFS) will issue up to $20,000 forgivable or deferred loans to allow for substantial resiliency retrofits. Qualifying homeowners (<80 AMI) who remain in their homes for 10 years after receiving the loan will have their loan completely forgiven.
Each year a homeowner remains in their home after the loan term begins results in forgiveness of 10% of the loan amount. The homeowner does not need to make any payments on the loan unless they decide to sell or cash-out refinance before ten years has passed.
For questions or background on these projects, contact Rachel Krogman.