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Loan and Incentive Programs

Neighborhood Reinvestment Fund
The objective of this program is to remove blight, encourage home renovation and increase home values in the city. Low-interest loans of up to $25,000 are available to income-qualified households who earn no more than $126,000. Eligible improvements include home renovation that remedies a code violation as well as exterior improvements such as new roofs, siding, windows or interior improvements that would increase the value of the home. Also eligible are any improvements that address health and safety, habitability, energy conservation or accessibility. Ineligible improvements include recreational improvements, working capital, payment for owner’s labor, debt service or refinancing existing debts.

Learn more about the Neighborhood Reinvestment Fund

First-time Homeownership Program
The objective of this program is to encourage homeownership in Woodbury by providing financing to low- and moderate-income first-time purchasers. Low-interest, deferred loans of up to $25,000 are available to income-qualified households who earn no more than $95,000. First-time home buyers are defined as a person or household that has never owned a home or has not owned a home in the last three years. The purchase price of the affected homes may not exceed $390,000. Single-family detached houses, townhomes or condo units are eligible for this program.

Learn more about the First-time Homeownership Program

For more information about the city's housing and redevelopment programs and policies, contact Karl Batalden, community development coordinator, at 651-414-3438 or karl.batalden@woodburymn.gov.