Incentives to Replace pre-HUD Code Homes, Rehab Newer Ones

MankatoFreePress reports a unique program to rid St. Peter, Minnesota, of pre-HUD Code manufactured homes will be expanded to include properties in two additional land lease communities (LLCs) in town–Summit and Mar Wey. The program began last winter in the Green Valley community, where four homes have been razed and two more are scheduled for demolition. Owners of pre-1976 homes receive a $2,000 buyout plus a no interest $10,000 loan to buy a new or existing home. The loan is forgiven if they reside in their new home for five years. Income-eligible owners of manufactured homes built after 1976 are eligible for up to $15,000 in rehabilitation assistance. Of the $33,000 in municipal tax-increment funds authorized by the St. Peter City Council, $8,200 has been allocated for home acquisitions. For this pilot program, the city has received $75,000 in grants from the state for the rehab portion. Southwest Minnesota Housing Partnership has contributed $50,000 in overall grant money for the program, including the $2,500 to remove the older manufactured homes. This type of multi-faceted rehab project is rare because it is targeted toward home owners who do not own the land.

(Photo credit: MankatoFreePress/John Cross)

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