Minnesota Housing Finance Agency

The MHFA was allocated $18,000,000 in the following three areas:

• Direct Housing assistance to citizens whose homes were damaged by the August 2007 flood - $16,000,000.
   
• Capacity Building Grants to local units of government for assessment of damage and development of local plans for recovery - $1,000,000.
   
• Reimbursement of the Disaster Relief Contingency Fund - $1,000,000.

MHFA, under the Direct Housing Assistance Program, has instituted the Quick Start Program for homeowners who are unable to repair or rebuild their homes due to flood damage expenses that exceed private insurance and federal assistance. Current Quick Start borrowers should contact their local administrator to increase their loan amount if financial assistance is still needed to repair or replace their home.

On Jan. 18, 2008, the maximum amount available to eligible homeowners through the Quick Start Disaster Recovery Program was increased from $23,000 to $46,000. The extended application deadline for the Quick Start Program was March 14, 2008.

Minnesota Housing also offers a flood insurance reimbursement program for SBA and Quick Start loan borrowers and provide grants for unmet housing needs to local governments and non-profits.

To date disbursements are:

• Quick Start: More than $10 million in Quick Start loans have been allocated to help residents repair flood-damaged houses. Under the program, homeowners are each eligible for up to $46,000 in state assistance for forgivable, no-interest loans. More than 350 loans have been approved, and many more are in the process of being approved. To make Quick Start loans easier and more accessible, Minnesota Housing has waived income limits and extended the application deadline to March 14. Quick Start Loans by County as of July 7, 2008.
   
• The agency also committed $1 million for rental projects and $250,000 in grants for flood-related housing needs not covered by other state and federal programs.
   
• The agency has transferred $2 million to the Department of Natural Resources to help match their $2 million in buying out property in the flood plain.
   
• The agency has transferred $300,000 to the Department of Health for well and air quality testing and $135,000 to the counties in the affected area to complete their Federal Disaster Mitigation Plans.

Contacts:
Application assistance is provided by Semcac.

• Semcac Preston:
  108 Fillmore Place, Preston.
  Hours: 8:00 am to 4:30 pm Tuesday through Friday.
  Call 507-765-2761 for more information.
  Contact is Lynn Mensink.
   
• Semcac Rushford (temporary):
  111 Mill Street (right on Highway 43)
  Hours: 9:00 am to Noon Tuesday, Thursday, & Saturday;
               2:00 pm to 6:00 pm Wednesday and Friday
  Call 1-866-810-8380 for more information.
   
• Semcac Winona:
  1756 Kramer Drive, Suite 300
  Hours: 8:00 am to 4:30 pm Monday through Friday
  Call (507) 474-4890 for more information.
   
• Semcac Winona:
  165 East 4th Street, suite 100
  Hours: 8:00 am to 4:00 pm Monday through Friday
  Call (507) 452-8396 for more information.