News

The Home Ownership for Me Down-payment Loan program is available in Becker County.

This second-mortgage loan is available to qualified buyers for purchase of a home as their primary residence. There are no monthly payments and no interest on the loan, but it must be repaid when the home is sold or at the maturity of the first mortgage.

A loan is available to households who are employed and reside in Becker County and who meet income guidelines. Guidelines for family sizes of 1-4 are below – larger families also are eligible.

Household size

80% AMI

Loan Amount

115% SMI

Loan Amount

1 Person

$46,700

Up to $5,000

$104,000

Up to $3,000

2 Person

$53,350

Up to $5,000

$104,000

Up to $3,000

3 Person

$60,000

Up to $5,000

$119,600

Up to $3,000

4 Person

$66,650

Up to $5,000

$119,600

Up to $3,000

The program is being operated by Midwest Minnesota Community Development Corporation (MMCDC). In order to receive a HOMe loan, buyers must qualify for and receive a first mortgage through MMCDC or another source, such as local banks. Income limits are updated annually, based upon federal income guidelines.

“To help ensure long-term success, all HOMe borrowers participate in free homebuyer education and housing counseling,” MMCDC President Julia Nelmark said.

The effort started with participation in a Housing Institute offered by Minnesota Housing Partnership (MHP), a statewide affordable housing nonprofit. Home Ownership for Me resulted from their discussions, which focused in part on housing needs of the Becker County workforce.

“The Homeownership for Me program is a perfect example of how local stakeholders can work collaboratively to address housing needs in their community,” said Barbara Dolan, MHP Deputy Director, Community Development.

Participants in the Minnesota Housing Partnership Housing Institute in Detroit Lakes included the Becker County Economic Development Authority, Essentia Health, the Detroit Lakes Regional Chamber of Commerce, Mahube-Otwa Community Action Partnership, the City of Frazee, the City of Detroit Lakes, Midwest Bank, Detroit Lakes Housing and Redevelopment Authority, and MMCDC. Funding providers have included Becker County EDA, Detroit Lakes Development Authority, City of Frazee, Essentia Health, BTD and Arvig.

For an application, click here to go to the HOMe page .

See you Monday!

We will be closed Thursday and Friday, Nov. 28-29, 2024. See you Monday!

Pine Villa offers 1-bedroom apartments plus a community room and a park-like setting within easy driving distance of Park Rapids and Wadena. Updated in 2017, most units feature walk-in showers and newer appliances and floor coverings. Each unit has air conditioning, and there is ample on-site parking. 

Pine Villa offers affordable, independent living and is a one-of-a-kind offering within our group of properties. Constructed for disabled and elderly adults, it is our only community that allows pets and the only one with rent set at 30 percent of the resident’s income. Income and program limits apply.

Call 218-847-5641 for an application and information or email Amanda Parteka.

 

 

Hancock Terrace is a well-kept apartment located on a tree-lined street in a quiet, residential neighborhood. Most of the apartments are two-bedroom units, and garages are available. Features include dishwashers, air conditioning, an on-site laundry room, and balconies on the upper floors. Heating cost is included in the monthly rent.

The city of Hancock, Minn., is a small, prairie community with its own school system, parks and municipal utilities. There also is a bank, library and other basic services. The town of Morris, Minn., is only about 10 miles away, with both a college and medical campus, plus other amenities. Welcome to the good life!

((MMCDC frequently refers businesses to the Minnesota Small Business Development Centers for technical assistance and, in 2024, sponsored the West Central SBDC’s new hybrid class, FastTrac. We asked our local WCSBDC director what challenges early-stage businesses face and how SBDC helps. This is the first in a Q&A series.)

By Ian Carlstrom, Regional Director of the West Central Small Business Development Center

Ian Carlstrom, Regional Director, West Central Minnesota Small Business Development Center

Often these businesses started without a plan, or found out that they’ve outgrown their plan, so our programs are a great way to regroup after those first year(s) in business. 

FastTrac is also a fantastic way for multiple owners to gather around the table and work ON the business; they’re often so busy working IN the business that they just need a dedicated time and space to focus on planning. This is also a great program for parents handing the business down to the kids. The parents want to feel confident that the next generation has some sort of plan to start with, and again they often don’t find the time to do this themselves.

Other common challenges for small businesses:

Trying to do too much, lack of focus: FastTrac helps people prioritize, evaluate, and focus on what’s important now and what’s next after that.  Phase 1, transitioning to Phase 2: Often at this point the business has experienced some success, but what got you here doesn’t always get you there – maybe what got you here isn’t even working anymore. So, they’re ready for Phase 2 of their business — market penetration, growth / scale, creating processes and efficiency.  Feeling alone: Many businesses fundamentally experience the same challenges (time management, cash flow and profitability, talent acquisition and retention, building a customer base, marketing and sales, family / friends don’t get it, etc.). They often take these things personally without realizing these are common problems that all businesses deal with. These cohort model programs help normalize these problems and create a platform for peer-to-peer learning, often building life-long friendships.

Click here to learn more about the many services offered by the West Central SBDC.

Click here to learn more about MMCDC’s business lending programs.

Click here to see MMCDC’s Helpful Resources page for small businesses.

 

MMCDC President / CEO and New Markets Tax Credit Coalition Vice Chair Julia Nelmark

MMCDC President Julia Nelmark testified before the Senate Finance Committee on Tuesday, July 30, in Washington, D.C. Read all about it in a press release from the New Markets Tax Credit Coalition, published by accesswire.com: Impact of New Markets Tax Credit Program Highlighted During Senate Finance Committee Hearing (accesswire.com)

The New Markets Tax Credit is one of the most effective tools we have for community development. — Julia Nelmark

$320,000

This three-bedroom, two-bath home offers 2,160 square feet, with a finished basement and two-stall garage, located in the new Greenwood Neighborhood.

The Greenwood subdivision features a paved, off-street walking trail to the front and a dedicated city green space to the rear. The 60-by-125-square-foot lot is served by street, utility and other city services.

For more information or a showing, contact Jeff at the Northwest Minnesota Housing Cooperative.

2018 Nelson Drive

This two-bedroom, two-bath home offers 1,164 square feet of single-level living, including no-step entries, in the new Greenwood Neighborhood.

The Greenwood subdivision features a paved, off-street walking trail to the front and a dedicated city green space to the rear. The 60-by-125-square-foot lot is served by street, utility and other city services.

Other features include in-floor heat throughout the home and garage, mini-split air conditioning, solid-surface kitchen countertops, under-cabinet lights, and a covered back porch.

For more information or a showing, contact Jeff at the Northwest Minnesota Housing Cooperative.

 

Board, staff, members, volunteers and guests gathered on June 20, 2024, for the MMCDC Annual Meeting at the Shooting Star Casino Event Center in Mahnomen, Minn.

Board Treasurer Jeff Haukebo shares information on MMCDC’s financial position at the 2024 Annual Meeting.

Election results by mailed ballot were announced, with incumbent members Lori Guenther, Jim Dagg and Lisa Weber reelected to the Board of Directors. Also announced was reelection of the existing board officers – Gary Thibert, Chair; Lori Guenther, Vice Chair; Jeff Haukebo, Treasurer; and Breanna Adams, Secretary – by a vote of the board at its regular meeting.

In a letter shared at the meeting, MMCDC President and CEO Julia Nelmark noted MMCDC is selling the company’s banking interests. Treasurer Haukebo also highlighted the related changes to the company’s 2023 financial statements. Information about the sale was posted by the leadership at Community Development Bank on its website at www.comdevbank.com.

MMCDC President Julia Nelmark shares information on the company’s prior year.

Members also approved, by mailed ballot, an updated Articles of Incorporation, which clarifies MMCDC’s primary purpose of promoting community development and eliminates redundancies.

Board and staff members and volunteers were recognized for their service, as was Steve Wiebolt, who served as MMCDC’s Vice President, Administration, before retiring in 2024. At 39 ½ years, he was the company’s longest-serving staff member.

Mary LaGarde, a White Earth Nation member and the Minneapolis American Indian Center Executive Director, served as the evening’s guest presenter.

White Earth Nation member and Minneapolis American Indian Center Executive Director Mary LaGarde served as the evening’s guest speaker.

She showed attendees photos of the recently completed MAIC redevelopment project in Minneapolis and discussed the positive impact on the community.