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2020 Renville County Housing Study

The Renville County HRA/EDA 2020 Renville County Housing Study is complete. 

Click the links below to view the final documents and virtual presentation:
Renville County Housing Study 
Virtual Housing Study Kick Off Meeting Presentation
Housing Study Overview PowerPoint

Contact us at (320) 523-3656 with questions or to discuss housing development opportunities in Renville County.

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HOUSING DEVELOPMENT
There are a variety of programs available to assist with the development of housing in Renville County, Minnesota. Please know that many of these may be limited to assist in specific geographical areas. Resources vary from local unit of government (city and township), and it is advised that those wishing to develop housing to contact them in the earliest stages of project planning to inquire about assistance programs and resources as some may have a lengthy application or approval process.  

CLICK HERE to view the Renville County Housing Development Directory

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RENVILLE COUNTY HOUSING DEVELOPMENT GAP LOAN PROGRAM

In an effort to help stimulate the creation of new multifamily housing development, the Renville County HRA/EDA has created a subordinate gap financing program to assist with development.

The Renville County HRA/EDA can lend up to $10,000 per unit being constructed with a maximum loan size of $50,000 per development.

Terms: WSJ Prime interest rate at the time of approval (currently 3.25%). 12 year loan. Interest only for first two years during construction / stabilization, then 10 years of monthly principal and interest on a straight-line amortization.

Security: 2nd mortgage (behind lead lender) and personal guaranty of all owners with 20% or more equity.

Fees: Actual expenses: legal fees for drafting docs and mortgage recording fees.

Application form will be available soon.

Please call Renville County HRA/EDA at (320) 523-3656 for more details and to discuss your project.