Grant awarded for Perham housing program
The Greater Minnesota Housing Fund has awarded the Perham Housing and Redevelopment Authority $10,000 to be used for its Employer Assistance Program.
The grant funds, which do not need to be repaid, are available at $2,500 per qualified home buyer.
The Employer Assistance Program provides down payment/closing cost funds in the form of a zero-interest loan that does not come due for 30 years.
The program is intended to help Perham workers own their own homes. Two local employers, KLN Family Brands and Arvig, have assisted the HRA in this effort by committing funds to the program.
KLN Family Brands commits funds to the Employer Assistance Program for employees who qualify, and also has a separate in-house program established. KLN employees should speak to Nancy Belka or Fred Sailer for more information .
Arvig funds are available to qualified buyers who work in or within a half mile of Perham, not just at Arvig, and are purchasing a home in Perham.
The HRA portion of this program is $2,000 per homebuyer. A homebuyer who qualifies for all of the funds available has the potential to receive $15,500 in down payment/closing cost assistance.
Over the years, utilizing this program, the HRA has helped 57 homeowners purchase a home in Perham.
With questions about the Employer Assistance Program, contact Mary Holzer at 346-4582 or at mholzer@ cityofperham.com.
Perham also has Tax Increment Financing available in its newer developments of Westwind, Clearwater and Prairie’s Edge. This program reduces or cancels infrastructure assessments levied against the lots in these developments. These assessments can be up to $15,000.
There are also special home loans designed for those in the work force, such as loans through the USDA’s Rural Development Program. Mortgage loan lenders can tell prospective home buyers more.
For more information on available housing incentives, visit www.progressiveperham.com.