Neighborhood Stabilization Program (NSP)

Tri-CAP, Inc. will be working in collaboration with the City of Elk River to administer the NSP funds in Elk River.  In March, the City of Elk River was awarded funds to provide targeted assistance to the City to address foreclosed properties.

The funds can be used for down-payment assistance, loans to buyers of foreclosed homes to assist with rehabilitation costs. Funds are limited and on a first come first serve application process.

Program Requirements

  • Eligible Recipients must meet area median income guidelines set by HUD
  • Activites must take place in one of the nine (9) eligible neighborhoods.  
  • Targeted Neighborhoods include the following Subdivisions : Trott Brook Farms (1-12), Trott Brook Farms South, Marshes of Trott Brook, Elk River Station, Country Crossings, Grandview Addition, Heritage Landing, Sandpiper Estates and Twin Lakes Townhomes. Target Areas now include both sides of the Boundary Street of each subdivision. Please call the City of Elk River at 763.635.1041 to verify property address.
HUD Homebuyer Education Counseling

Interested homebuyers will be required to take a HUD approved Homebuyer Educational Course.   

 http://www.cmhp.net/homebuyer_education.html

Interested Homeowner Resources
Questions?

Please contact Tri-CAP at (320)257-4461 for any further questions, resources, or to be put on the waiting list to receive formal notification of when the funds will be available for this program.