2004 Section 108 Project Summary - Minnesota

Deluth Rental Housing Development Program
BORROWER: SDULUTH
STATE: MN
COMMITMENT AMOUNT: $10,000,000
Duluth will use the Section 108 guaranteed loan to create a loan fund for the development of rental housing. Through this loan fund the city will finance property acquisition, construction of public facilities, and related site improvements for rental housing development. At least 51% of the units in the completed rental housing development will be occupied by low- and moderate-income persons.