Aitkin County Economic Development establishes Housing Development Incentives

The Aitkin County Board of Commissioners recently approved the Housing Trust Fund Guidelines.
The primary purpose of the Aitkin County Housing Trust Fund (HTF) Program is to assist in financing
the production and preservation/stabilization of affordable and mixed-income housing projects in Aitkin County.

The Trust Fund shall provide loans and grants to property owners, homeowners, local units of
government, for-profit housing developers, and non-profit housing developers for the acquisition,
capital and soft costs necessary for the creation of new Affordable Infrastructure and Workforce Housing (both rental and owner occupied).

Projects funded by the Trust Fund shall be dispersed throughout the County. Programs will be made
available and promoted by the Aitkin County Economic Development Department with specified time frames. Cities are also eligible to request
funding from the Aitkin County HTF for the purpose of supporting programs listed below.

DEVELOPER
1. Multi-Family Development Tax Abatement
2. New Construction/Development Incentive Programs
3. New Development/Redevelopment Financing Programs
HOMEOWNER
4. Rehabilitation Incentive Programs
5. Minnesota Housing Finance Agency (Minnesota City Participation Program)

Additional information will be released soon.