RecordingTranscript available1:07
Agenda: Edina - "Edina Heroes" Home Loan Assistance Program - Late September 2025
Edina City CouncilSaturday, October 4, 2025
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[Music] A new program aims to help the people who work in Edina make the city their home. The Edina Housing and Redevelopment Authority has launched a pilot down payment assistance program called Edina Heroes. It offers loans of up to $100,000 to municipal and school employees as well as health care workers who earn the area's median income or above for families of three or more. The loans can be used on homes valued at $600,000 or less. Thanks to the housing foundation for uh creating this program. It reflects the need that we're hearing or the desire of the community to house people who work here and help people. So, it's a good program. >> The HR committed $1 million from the Southdale 2 tax increment financing district to fund the program. The Dina Housing Foundation will manage the loans while the city's community development department will provide support and oversight.