$220,000
Employer Commitment for Rehabilitation and Downpayment Assistance Adds
to Duluth's Affordable Housing Stock
Duluth Local Initiatives
Support Corporation -
Duluth, Minn.
Single-family Downpayment Assistance
EMPLOYER ROLE: Employer Pool of Downpayment Assistance
Funds
Number of Units | 75
Employer Contribution | $220,000
GMHF Award | $150,000 - Grant
Total Development Cost | $5.6 Million
Project Features
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Locally owned businesses generously pooled funds for downpayment assistance for buyers in targeted neighborhoods throughout Duluth.
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Home buyers received $2,000 for new and rehabilitated housing from employer pool.
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GMHF matched each of these commitments with an additional $2,000 per unit.
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Over $220,000 in financing committed by dedicated employers helping to greatly increase the number of affordable housing units for area workers.
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Success of projects traced to the collaboration between non--profits, the city of Duluth and dedicated local employers.
