SELBY MILTON VICTORIA PROJECT
Rondo CLT continues construction on the Selby Milton Victoria (SMV) Project. This 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. Construction began in April 2018, and should be completed early 2019.
SHOREVIEW PILOT PROJECT
The Shoreview Homebuyer Initiative Program (HIP) is a homeownership program which will assist income-qualified household purchase and fix up a single-family house in Shoreview. Households participating in the Shoreview HIP receive down Payment and Closing Cost Assistance as well as the HIP Rehab Grant. The rehab grant provides funds to pay for things like electrical and plumbing updates, a new roof, furnace, windows, or doors, lead abatement, and insulation updates.
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/write down grant and rehabilitation grants. 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 Pilot 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.
HOMEBUYER INITIATED PROGRAM (HIP)
HIP is a homeownership program for low-to-moderate income households. Through HIP, participating households receive two grants, each for up to $25,000, to help them purchase and rehab a home that is available on the open real estate market in Ramsey County. The grants are used to reduce the amount a household needs to purchase a home, and to ensure that the home purchased is structurally and mechanically safe and sound.