Coon Rapids Home for Generations

What are the goals of the program?

Beginning in 2009, in the midst of the home mortgage foreclosure crisis, the city of Coon Rapids implemented a housing rehabilitation program. Over the course of four years, the Home for Generations program successfully remodeled five houses - two ramblers, two split entry homes, and one story and a half. The goal was to demonstrate the cost-effectiveness of strategic home upgrades and improvements that could preserve existing housing stock and offer floor plans attractive to families of many different sizes and ages. Both Phase I and Phase II serve younger families with children as well as homeowners who have lived in the community for a long time and wish to age in place. A handful of the program's recipients also have completed remodels to relocate elderly parents moving in with their children. 

How does the program operate?

In Phase I, the city was able to acquire foreclosed properties (REO) in good condition and suitable for remodeling. Making use of local contractors and resources, the floor plans were enhanced as were the home amenities. Returning these upgraded homes to the real estate market allowed the city to direct proceeds from the sale to the purchase of another foreclosed property and repeat the process.

Over the course of the program, over 8,000 visitors came to an open house viewing of the properties before resale. All walked away with creative remodeling ideas they could apply to their existing homes. 

Home for Generations II was created in 2012 when the housing market was beginning to recover. It formally launched in May 2013. The city sought to focus on ways to incentivize homeowners to replicate house remodels similar in scope to what was demonstrated in Phase I.

Phase II offers subsidized architectural consultations, grants up to $5,000, building permit rebates, and 4.5% financing on loans up to $50,000. To be eligible, homes must be owner-occupied and at least 20 years old. Total project cost must exceed $35,000 and at least one of those projects must be considered a value added project such as kitchen or bathroom remodels, room additions, basement finishes or remodels, construction of a covered front porch, adding a new bathroom, etc. Larger grant amounts are awarded to those projects that also increase curb appeal.

From May 2013 to May 2015, the city received 136 applications, subsidized 108 architectural consultations, signed 43 participation agreements approving work to begin, and leveraged $2.96 million worth of home improvements.

How is the program funded?

The program is funded jointly between the Coon Rapids Mortgage Assistance Foundation and the City's Housing and Redevelopment Authority (HRA).  

Resources
http://www.coonrapidsmn.gov/547/Home-for-Generations-II

City Contact
Kristin DeGrande
Neighborhood Coordinator
763-767-6517
 

NLC Contact
City Solutions & Applied Research
brooks@nlc.org

Last updated September 2015