The program advocates both strategies to reduce costs and strategies to add value. The result is new neighborhoods that build on those physical qualities that always have added value and livability to traditional neighborhoods.

Dozens of Greater Minnesota communities, including several in the Rochester area, are benefiting by using the strategies of Building Better Neighborhoods to develop attractive, mixed-income neighborhoods that include both market-rate and affordable homes for working families.

The Building Better Neighborhoods program aims to:

• Create vital, well-planned neighborhoods.
• Increase production of affordable starter homes.
• Minimize subsidies needed to create affordable homes.
• Help working families build equity.
• Reduce development costs through the most efficient use of land.
• Reduce home construction costs.
• Encourage mixed-income developments by providing a range of housing types.
• Work with local public officials to reduce regulatory barriers to affordable housing.
• Work cooperatively with communities to meet their housing needs.

Non-profit developers, for-profit developers, employers and local government agencies are eligible to apply for funds from GMHF. To find out more, visit GMHF's web site or call (800) 277-2258.

Funding available from Greater Minnesota Housing Fund includes gap financing (zero-interest deferred loans) for homebuyers and interim financing (limited availability) for communities and developers.

In addition, GMHF provides technical assistance for land use planning, engineering and home design; locating builders and developers; developing a financing plan for infrastructure installation; and assisting the local government to modify zoning ordinances.