HOMEBUYER INITIATED PROGRAM (HIP)
HIP is a buyer-driven program that provides additional buying power for buyers to affordably purchase a home of their choice. Once a buyer completes the necessary pre-purchase education and application steps, they then can be enrolled in the program. HIP aligns buyers with an affordability investment and a commitment for a post-purchase deferred maintenance and/or rehab investment. HIP allows the buyer to leverage their mortgage with the affordability investment to be able to buy a home that previously would have been out of reach.
SELBY MILTON VICTORIA PROJECT
The Selby Milton Victoria (SMV) Project seeks to ensure that small businesses can remain and grow on Selby Avenue amid regional revitalization and provide long-term low-income affordable senior housing. This is the first commercial land trust of its kind in the Twin Cities.
SHOREVIEW PILOT PROJECT
Rondo CLT is working with the city of Shoreview and a local developer to develop a vacant lot in Shoreview. We are working to create three twin homes with a total of six units. Construction is scheduled to start Spring 2022.
RIGHT TO RETURN TO RONDO PILOT PROJECT
The Rondo Community Land Trust is working with the city of Saint Paul PED to provide funding to the Rondo Pilot Right to Return Anti Gentrification Project. We are requesting funding for the purchase of a house, buyer closing costs and rehabilitation needs. One very unique part of the pilot project is to give African American families that have roots to the Rondo neighborhood, first right to purchase the houses in the pilot program. Similar to the Portland model, the Rondo Right to Return Project recognizes the past disinvestment and discrimination faced by Rondo African American families.
RONDO EMERGENCY MORTGAGE LOAN FUND
The Rondo Emergency Mortgage Loan Fund is available to current Trust homeowners who are unable to make their next mortgage payment due to a short-term crisis. Up to two mortgage payments will be made by Rondo CLT directly to the mortgage company. A note is attached to the end of the mortgage making the emergency loan due on sale of the property. To date, Rondo has helped twelve families remain in their homes.