Read AboutHOMe Offers Help to Homebuyers
HOMe Offers Help to Homebuyers

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 .

Read AboutDo You Need Help Paying Rent in Becker County?
Do You Need Help Paying Rent in Becker County?

The waiting list is open for the Becker County Housing Choice Voucher Program. The program offers rental assistance to qualifying households residing in areas of Becker County located outside of the Detroit Lakes city limits.

This rental assistance program is funded by the U.S. Housing and Urban Development office (HUD); households must meet income guidelines. For more information and a pre-application, contact Becker County EDA — MMCDC Housing, 119 Graystone Plaza Suite 100, Detroit Lakes, MN 56501; 218-847-5641; or info@mmcdc.com.

Items needed for pre-application include:

Name of household members Date of birth for household members Social Security number for household members Current mailing address Current telephone number Approximate income

Midwest Minnesota Community Development Corporation serves as program manager for the Becker County Economic Development Authority.

“Our waiting list is shorter than it has ever been, so if you are a qualifying renter who needs rental assistance, now is a great time to add your name,” MMCDC Housing Specialist Robyn Beck said.

This institution is an equal opportunity provider and employer.

Read AboutSBA Loan Forgiveness Portal Available Aug. 4 for Many PPP Borrowers
SBA Loan Forgiveness Portal Available Aug. 4 for Many PPP Borrowers

Beginning Wednesday, Aug. 4, the U.S. Small Business Administration (SBA) is launching an application portal to allow borrowers with Paycheck Protection Program loans of $150,000 or less to apply for loan forgiveness directly through the SBA, according to a press release.  

PPP Loan Forgiveness

MMCDC is among the lenders that has opted to allow its borrowers to use the streamlined application process. An SBA customer service team will be available to answer questions and directly assist borrowers with their forgiveness applications.  Borrowers that need assistance or have questions should call (877) 552-2692, Monday – Friday, 8 a.m. – 8 p.m. EST.

 “The SBA’s new streamlined application portal will simplify forgiveness for millions of our smallest businesses — including many sole proprietors — who used funds from our Paycheck Protection Program loans to survive the pandemic,” said Administrator Isabel Casillas Guzman.  “The vast majority of businesses waiting for forgiveness have loans under $150,000. These entrepreneurs are busy running their businesses and are challenged by an overly complicated forgiveness process. We need to deliver forgiveness more efficiently so they can get back to enlivening our Main Streets, sustaining our neighborhoods and fueling our nation’s economy.”

Read AboutMMCDC Celebrates Golden Anniversary
MMCDC Celebrates Golden Anniversary

A pandemic made the 50th year of Midwest Minnesota Community Development Corporation a memorable one, necessitating service in unprecedented ways.

At the 2021 annual meeting, MMCDC President Julia Nelmark noted swift action by the staff and board to allow clients to weather negative impacts without potential loss of home or business. This included:

Modifying $14.5 million in existing loans, and providing $7.4 million in Paycheck Protection Program and small business emergency loans, Prioritizing resident safety and support in rental housing, and Delivering workforce housing despite supply chain and other barriers as well as free volunteer tax preparation using socially distanced models.

We really have a great staff – a lot of skill, many years of experience in a lot of cases, a lot of drive to help the people in the communities, so it is really thanks to those staff that we accomplish what we do. – MMCDC President Julia Nelmark

Highlights of the June 17 event in Detroit Lakes included a congratulatory video from U.S. Sen. Amy Klobuchar and in-person remarks by former Congressman Collin Peterson. Peterson recalled working together with MMCDC following creation of the Low-Income Housing Tax Credit (LIHTC) program. The program ultimately delivered new investment in affordable housing around the country, including seven apartment buildings now owned by MMCDC.

Calvin Benson, District Outreach Representative for U.S. Rep. Michelle Fischbach (R-Minn.) delivered in-person remarks, and Gov. Tim Walz issued a Certificate of Recognition.

Former MMCDC President Arlen Kangas, Ph.D., was recognized for his 25-year tenure as company president, in particular for work with the White Earth Investment Initiative, a subsidiary company. In turn, he noted the support of Collin Peterson, and the contributions of longtime staff member Doris Kohler and the late John Masog, board director. Both began service to the company in the 1970s. Also recognized was Kathy Misson, retired MMCDC Vice President, Mortgage Lending, and retiring board director Janet Green. 

Incoming board director Lisa Weber was elected to represent Becker County. Directors adopted restated bylaws and elected the following officers: Chairman Paul Ihle, Vice Chairman Gary Thibert, Treasurer Jeff Haukebo and Secretary Breanna Adams.  Additional previous staff and board members in attendance at the event included: Ida McDougall, Detroit Lakes; Judy Quam (Becker County Director); Germaine Riegert (Mahnomen County); Larry Roed (Polk County); Kathy Henry (Hubbard County); and Dale Macklanburg (Hubbard).

 

MMCDC President Julia Nelmark reports on company performance. Treasurer Jeff Haukebo, Hubbard County, delivers a financial summary; at left is Chairman Paul Ihle, Pennington County. Collin Peterson served as congressman for 30 of MMCDC’s 50 years. Former MMCDC President Arlen Kangas, who served in that role for 25 of MMCDC’s 50 years. More than 70 people attended the June 17, 2021, MMCDC annual meeting and 50th anniversary celebration, held at the Historic Holmes Theater in Detroit Lakes, Minn. Calvin Benson sends greetings from U.S. Rep. Michelle Fischbach.

 

 

Read AboutNeighborWorks Reports On Improving Healthy Childhood Outcomes
NeighborWorks Reports On Improving Healthy Childhood Outcomes

Where children live, learn and play have a significant impact on their health and development. It’s why improving neighborhood conditions is a critical strategy for improving child well-being. Read a new report from NeighborWorks America and the Center for the Study of Social Policy to learn how organizations and leaders in community development and early childhood can partner together to improve outcomes for young children and their families.

Click Here for the Link to the Full Report

 

SBA Launches Ascent Website for Women Entrepreneurs

The Small Business Administration recently announced its new free learning platform for women entrepreneurs, Ascent. Go to our Women in Business page to view resources for women in business, including a link to the Ascent website.

The platform is designed for women who are beyond the start-up phase of their business and are seeking future growth.

 

 

 

 

 

Read AboutMMCDC to deploy round of federal New Markets Tax Credits in Upper Midwest
MMCDC to deploy round of federal New Markets Tax Credits in Upper Midwest

Detroit Lakes, Minn.–Midwest Minnesota Community Development Corporation is poised to deploy $60 million in targeted investment in four states after finalizing its most recent federal New Markets Tax Credit allocation agreement.

These projects have the power to change lives. This is why the tax credit typically garners bipartisan support, and we applaud our elected officials – including Minnesota Sens. Amy Klobuchar and Tina Smith, 7th District Congressman Collin Peterson and 8th District Congressman Pete Stauber – for helping direct new investment to rural areas. — MMCDC President Julia Nelmark

“Today’s action demonstrates the Administration’s commitment to promoting economic growth and jobs in distressed communities, and to ensuring that every American can get back to work as quickly as possible,” Treasury Secretary Steven T. Mnuchin said when announcing the latest $3.5 billion in federal allocation nationwide.

As in the past, manufacturing centers, medical providers and community organizations top MMCDC’s list of potential financing recipients, with special emphasis on rural and Native American projects and highly distressed communities. The list includes potential projects in Wyoming, a state that is historically underserved by the NMTC, and in South Dakota, North Dakota and Minnesota. 

Using allocation authority, MMCDC connects low-cost financing with hard-to-finance projects that create new and better jobs, services and facilities in underserved areas.

The program is administered by the federal Community Development Financial Institutions Fund, working in partnership with Community Development Entities such as MMCDC. For more information or a financing application, go to Commercial Lending.

Read AboutWaiting list now open for Public Housing in Becker Co.
Waiting list now open for Public Housing in Becker Co.

Looking for decent, low-cost housing with room for your family? Are you in need of a yard and a garage? Take advantage of this opportunity and join the waiting list for Becker County Public Housing.

MMCDC, which administers the program on behalf of Becker County, is taking rental applications for the 25 single-family homes scattered throughout Becker County, many in our small towns. When vacancies occur, people on the waiting list will be contacted.

Ideal applicants have a need for a larger rental unit of three bedrooms or more. While all homes are income restricted, public housing allows a higher income. Applicants generally pay 30 percent of their gross income on rent, pay their own utilities and care for the property through snow removal, lawn care, and basic cleaning and maintenance.

Call 847-5641 or 888-847-7404 for details.

MMCDC is an equal housing provider, employer and lender. 

Read AboutMANNA Food Co-op is on the Move
MANNA Food Co-op is on the Move

MANNA Food Co-op has surpassed its phase one capital campaign goal for a planned expansion and has signed a lease at its new storefront.

Financing and technical assistance from MMCDC helped the co-op to open in 2018 at its current Detroit Lakes, Minn., location. When a larger space became available downtown, MANNA saw an opportunity to connect more community residents and visitors with local producers. MMCDC supported the co-op’s phase one fund-raising goals by converting a portion of its debt to equity financing via preferred co-op shares.

“The membership is strongly committed to the future success of the store, and so are we,” MMCDC President Julia Nelmark said.

The co-op continues working toward its ultimate fund-raising goal of $400,000.