Click on one of the links below to find out more about how MMCDC is helping communities in Minnesota and the Upper Midwest, particularly rural areas, become better places to live and work.
A Place To Be
Home: Sided 3 BR, 1 BA, 1-stall detached garage, 1,594 sq. ft. above grade with backyard deck plus basement
Mortgage Products: USDA Rural Housing Guaranteed Loan, Project Reinvest Loan
Homebuyer Education: Minnesota Homeownership Center’s Framework Online
Buying Local
Initial MMCDC Financing: $250,000 loan * $100,000 line of credit
Co-op purchases from local producers in first full year: 24% of total purchases
Regional vendors selling to co-op in first full year: 42
Membership growth during start-up period: 90%
Community Development Bank Acquires New Branch in St. Michael, Minn.
St. Michael Branch
$81.86 Million in Assets
14 FTEs
Six Commercial Tenants
(as of acquisition)
Financing Affordable Housing Developments
In 2017, affordable housing shortages drew MMCDC's business lending team into housing finance
