LPNA has made Neighborhood Revitalization Program (NRP) funds available for homeowners in the Logan Park community to make home improvements to their properties though our partner organization Center for Energy and Environment (CEE). CEE offers statewide loans, as well as loans specially for Logan Park residents, that have low monthly payments and flexible terms.
Logan Park Deferred Loan
- 0% APR.
- No monthly payments.
- Loan amounts from $1,000 to $3,000.
- Borrowers may be required to provide matching funds determined by income.
- 1-4 unit owner-occupied residential properties in the Logan Park neighborhood.
- Individual owners of condos or townhomes are eligible.
- Properties held in Trust are not eligible.
- Loan approval is subject to credit and program guidelines.
Logan Park wants this program to be accessible to all homeowners, so any household with an income less than or equal to 60% AMI will not have to match the loan amount. To learn more about the deferred loan program and Logan Park’s other financing programs, visit mncee.org/loganpark or contact CEE’s lending team with any questions at 612-335-5584.
Eligible Improvements:
- Eligible improvements include any permanent interior or exterior improvements made to the house or garage.
- For projects under $15,000 one bid is required from properly licensed contractor. Two bids are required for projects over $15,000.
- For do-it-yourself projects, a materials list including prices is required. The cost for labor and the purchase of tools may not be included in the loan.
- Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received.
Logan Park Neighborhood Home Improvement Loan Program
- No maximum income limit.
- Loan amounts from $2,000 to $15,000.
- Terms up to 15 years, No down payment required.
- Owner-occupied 1-4 unit residential properties.
- Properties under construction or held in Trust are not eligible.
- Loan approval is subject to credit and program guidelines.
Eligible Improvements:
- Eligible improvements include most interior and exterior maintenance or remodeling.
- For projects under $15,000 one bid is required from properly licensed contractor. Two bids are required for projects over $15,000.
- For do-it-yourself projects, a materials list including prices is required. The cost for labor and the purchase of tools may not be included in the loan.
- Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received.
Emergency Deferred Loan
Definition of Emergency: An emergency is defined as a condition that makes a house uninhabitable, extremely dangerous to the occupants, or is capable of causing severe health problems.
- 0% APR.
- No monthly payments.
- Loan amounts from $500 to $5,000.
- No down payment required.
- 1-4 unit owner-occupied residential properties.
- Individual owners of condos or townhomes are not eligible.
- Properties under construction or held in Trust are not eligible.
- Loan approval is subject to credit and program guidelines.
- To qualify for this program borrower(s) must not be eligible for any other financing administered by CEE.
Eligible Improvements:
- Eligible improvements include emergency improvements as defined above. Qualifying improvements will be determined by a site visit to the property.
- For projects under $15,000 one bid is required from properly licensed contractor. Two bids are required for projects over $15,000.
- For do-it-yourself projects, a materials list including prices is required. The cost for labor and the purchase of tools may not be included in the loan.
- Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received.
Visit mncee.org/loans or call 612-335-5884 for more information.
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