fedgazette

Duluth boosts homeownership downtown

Minnesota State Roundup

Published October 1, 2000  |  October 2000 issue

In an attempt to revitalize a downtown neighborhood, Duluth has created a homeownership program for downtown workers.

The program offers $2,000 toward building or buying a home in three aged hillside neighborhoods, where crime is the highest in the city. Low- and moderate-income home buyers can qualify for an additional $2,000. The money can be used for a down payment or closing costs, or to reduce monthly mortgage payments. As of mid-summer, the program had drawn 31 families.

The incentive program encourages new residents to invest in the neighborhood and gain the benefit of being close to work. Program requirements include working for a business that is a member of the Greater Downtown Council and/or is participating in the program. Buyers must live in their homes for five years or pay back a portion of the grant, and they must complete a home buyers program.

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