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The U.S. Department of Energy and the North Carolina Clean Energy Technology Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in December 2014. Staff are currently working hard on the new version of DSIRE but are also maintaining the content of the current version of DSIRE. Thank you for your continued support and patience during this transition. We hope you are as excited for December as we are! The U.S. Department of Energy and the North Carolina Solar Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in the summer of 2014. Staff are currently working hard on the new DSIRE and are unfortunately only able to make minimal updates to the DSIRE website at this time. We apologize for any inconvenience and thank you for using DSIRE.

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Minnesota

Minnesota

Incentives/Policies for Renewables & Efficiency

Printable Version
Rental Rehabilitation Loan Program   

Last DSIRE Review: 01/10/2013
Program Overview:
State: Minnesota
Incentive Type: State Loan Program
Eligible Efficiency Technologies:
Applicable Sectors: Residential, Multi-Family Residential, Low-Income Residential
Amount:Varies depending on improvements needed
Maximum Incentive:Single-Family and Two-Unit Structures: $25,000
Multi-Family: Lesser of $10,000/unit or $100,000/structure
Terms:6% interest rate with loan terms up to 15 years
Web Site: http://mncee.org/Find-Programs-Financing/MHFA-Rental-Rehabilitati...
Summary:

Note: This program is currently out of funds. A new round of funding is expected in the fall of 2013.

The Minnesota Housing Finance Agency (MHFA) Rental Rehabilitation Loan Program provides low interest financing for making energy conservation and other basic improvements to residential rental properties located in participating Minnesota communities. Loans exceeding $5,000 are evaluated on the basis of the building’s revenues, which must show a positive cash flow after rehabilitation. Loans of $5,000 or less may be evaluated on the basis of the borrower’s personal credit/financial status. A mortgage is required on loans exceeding $5,000.

To be eligible for the loan, the structure must require improvement to meet State Energy Conservation Standards for Rental Housing. Mixed-use (commercial/residential) structures are eligible if more than 50% of the building’s total floor area is devoted to residential use, and if the improvements will primarily benefit the residential portion. The residential portion of the structure must be occupied primarily by people of low- to moderate-income (see applications for further details). There are no income requirements; however, applicants must have good financial standing and demonstrate the ability to repay the loan.

Structures less than 15 years old are eligible only for funds to finance the necessary improvements to bring the structure into compliance with the state energy standards for rental housing. Structures more than 15 years old are eligible for other moderate rehabilitation, provided they must also be brought into compliance with the energy standards. Conversion from non-residential use to residential use is not permitted, nor is the construction of additional dwelling units.


 
Contact:
  Stephen Hines
Center for Energy and Environment
212 3rd Ave North
Suite 560
Minneapolis, MN 55401
Phone: (612) 335-5851
Phone 2: (855) 296-5626
Fax: (612) 335-2650
E-Mail: shines@mncee.org
Web Site: http://www.mncee.org/
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.