Requirements

Eligible Applicants

Any property owner is eligible.


Eligible Properties
Property must be at least 50 years old and located in one of the cities historic districts: Jackson Park, Cathedral, W. 11th St. Langworthy, or Old Main Historic Districts.

Required Security
The borrower must provide at least a second mortgage position and promissory note, or an amount not to exceed 100% of loan-to-property value. The property value will be based on the assessed value, or on the appraised value after improvements if the assessed value is not a good indicator.

Eligible Improvements
Eligible improvements include exterior work that results in property improvements that meet the Secretary of the Interior Standards for Rehabilitation and any specific design standards established for the pertinent Historic Preservation District.