Agenda - Council Work Session - 07/14/2026

Home

Interior Improvements — Minimum award amount $1,000; Maximum award amount - $10,000 (total per home). 10. Furnace 11. Air conditioner 12. Water heater 13. Mold, lead, and asbestos remediation 14. Electrical panel replacement and upgrading of knob -and -tube wiring. The Council shall designate amounts each year for exterior and interior improvements. Matching Contributions This program is a forgivable grant with a sliding scale based on the amount the homeowner contributed to the project and the length of time that homeowner remains in the home. This money is not intended to provide a resale value increase in order to flip a property quickly. This program will reward projects that have a greater homeowner contribution with a shorter repayment period. There will be no interest charged or collected on any repayment. Repayment terms shall be secured by a lien on the property recorded with the Anoka County Recorder/Registrar of Titles office. If repayment is required at the time the home sells, money received must be deposited into the Housing Fund as required by Law. Repayment Portion (%) Based on Homeowner Contribution and Resale Timeframe. Percent Project Contribution Resale 1 0-24.99% 25-49.99% 50%+ 0-2 Years 1 100% Repayment 100% Repayment 100% Repayment 2-4 Years 1 75% Repayment 66% Repayment 50% Repayment 4-6 Years 1 50% Repayment 33% Repayment 0 (Forgiven) 6-8 Years 25% Repayment 0 (Forgiven) 0 (Forgiven) After 8 Years 0 (Forgiven) 0 (Forgiven) 0 (Forgiven) Example 1: A homeowner contributes 25 percent of the project costs and sells the house in three years, 66 percent of the awarded amount must be repaid to the City: Total Project Cost $20,000 Homeowner Contribution $5,000 (25% of $20,000) Award Amount $15,000 Amount Owed to City when sold in 3 years $10,000 (66% of $15,000) Example 2: A homeowner contributes nothing to a project and remains in the home for ten years. There is no repayment required. Total Project Cost $20,000 Homeowner Contribution $0 Award Amount $20,000 Amount Owed to City when sold in 10 years $0 (the award is forgiven)