LHENA has offered loan programs for more than 20 years through the help of the City of Minneapolis Neighborhood Revitalization Program Phase I and Phase II funds. The Phase I and Phase II programs consist of contracts for various neighborhood improvements including the neighborhood historic loan program with CEE, Center for Energy and the Environment. Both home and commercial loans are available through this program.
For more information and applications, please see the CEE website.
REQUEST FOR LOAN PICTURES AND STORIES
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Summer is here and it’s time to get your hands dirty!
Do you have storm damage from the winter?
Do you need to address water issues in the garden?
Do you have a special home improvement project in mind for this summer?
Check-out what types of funding your neighborhood has to help you spruce up your home, property, or business.
Assists commercial property owners in the rehabilitation of existing commercial properties thereby attracting commercial business to the neighborhood.
Exterior improvements for residential properties.
Eligible improvements include most energy efficiency improvements. Examples include air sealing, insulation, heating upgrades, A/C for increased efficiency, hot water heater replacement, ventilation, and rain gardens to improve drainage conditions
Emergency repair for residential property owners
Low interest revolving loan for residential property improvements
Now closed for 2017 but you can get your project applications in anytime for consideration in March 2018. Please contact email@example.com for an application.
Further information on the historic loan program is as follows:
- Goal is to stabilize and restore the exterior of neighborhood homes and structures in an historically appropriate manner.
- All residential property owners within Lowry Hill East may participate.
- All proposed improvements must be as historically accurate to the individual property as possible in order to receive funding through this program
- Minimum NRP loan size of $2,500 and maximum of $10,000
- Zero percent (0%) interest rate
- 10 year loan term. No payments due in the interim if property ownership is retained for 10 years from the date of closing. After 10 years, the deferred loan is 100% forgiven. If the borrower sells or transfers title prior to the 10 year forgiveness term, the borrower will be responsible for repaying the deferred loan.
- Match Requirement: The NRP-funded loan must be matched by funds from the property owner on a 1:1 basis.
Eligible improvements include those made to the exterior of the property for the purpose of preserving or restoring historic features. Past projects have included repair and restoration of windows, doors, porches, stucco and siding. Examples of eligible projects include, but are not limited to:
- Siding Replacement (e.g., removal of vinyl or press board siding and replacing it with wood or fiber cement board siding of an appropriate scale and lap)
- Windows (repair, replacement, or updates; e.g., the removal of aluminum windows or reduced-size windows, replacing them with clad wood hung windows)
- Porches (repair or replacement – in an historically accurate manner)
- Gutters (repair or replacement – in an historically accurate manner)
- Roofing (repair or replacement – in an historically accurate manner)
- Masonry/stucco (repair or replacement – in an historically accurate manner)
- Soffits, fascia, and trim (repair or replacement – in an historically accurate manner)
- Painting of replaced surfaces (e.g., siding, trim, fascia, soffits, windows, etc.)
- Steps and sidewalks (repair or replacement – in an historically accurate manner)
- Fencing (if a “historical precedent” at the property can be documented)
- Chimney reconstruction, but ONLY if it would be the removal of an historically inaccurate chimney and replacing it with a more historically-appropriate chimney
- Other prominent architectural features which contribute to the historical character and integrity of the property.
- Brick tuck-pointing (generally and if not an “excessive” percentage of the scope)
- Architectural drawings, blueprints, scope of work plans, etc.
Funds may not be used for the following projects:
- Recreation or luxury projects
- Lawn sprinkler systems
- Playground equipment
- Decks (repair or replace)
- Any driveway work
- Garages or carriage houses (repair or replace)
- Water main repairs
- Retaining walls (repair or replace)
- Yard lighting
- Landscaping projects (permanent or otherwise)
- Painting of “non-replaced” surfaces (generally – exceptions could be approved on a case-by-case basis by CEE)
- Personal property items (such as appliances)
- Repairs to property used for business or trade purposes
- Funds for working capital
- Debt service or refinancing existing debts
- Labor costs of borrowers and/or residents
Applications can be accessed here: Historic Loan Program Application
Submit application to:
- 2101 Hennepin Avenue S, Suite 100 A
- Minneapolis, MN 55405
A complete application must include the following items:
- A written plan of proposed work
- An estimated budget (minimum total project cost is $5,000)
- Photo(s) of the existing structure as viewed from the street
- Detailed photo(s) of proposed work area(s)
- Sketches of proposed work and/or photos of proposed materials as applicable
Only exterior improvements made to a property for the purpose of preserving or restoring its historic character are eligible for funding through this program. Repair of items is highly encouraged and will be viewed more favorably over replacement. Any proposal for replacement must include substantial evidence that repair is not possible (age alone is not sufficient justification). All proposed improvements must be as historically accurate as possible to the specific property. Research on the property should be conducted to assess its original design. Evidence should be gathered through sources such as historic photos of the property and/or comparison to similar styles in the area to make reasonable assumptions of what once existed.
- Hennepin History Museum: www.hennepinhistory.org
- Minnesota Historical Society: www.mnhs.org
- City of Minneapolis Development Review: www.minneapolismn.gov/mdr/index.htm
- Hennepin County Library: www.hclib.org
Historic Preservation Resources:
- Preservation Briefs: www.nps.gov/tps/how-to-preserve/briefs.htm
- Secretary of the Interior’s Standards for Rehabilitation: www.nps.gov/hps/tps/standguide/rehab/rehab_standards.htm
Approval Process: A panel with expertise in historic preservation, architecture and historic rehabilitation will review and rank all submissions. Proposals will be assigned points based on the following selection criteria:
- Impact/visibility of improvement project (20%) 1-10 pts
- Age of property (10%) 1-5 pts
- Improves property values (10%) 1-5 pts
- Compatibility of the project with property (40%) 1-20 pts
- Other criteria determined by Review Committee (20%) 1-10 pts (Subject to LHENA approval prior to projects being ranked)
Once proposals have been reviewed, property owners will be notified of their application status and ranking. Those selected to move forward will begin the financing application process with CEE.
Contact Information: email LHENA firstname.lastname@example.org for more information.