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TWO HARBORS - "It's just a huge grant and it's gonna provide a lot of success for the county," Lake County Housing and Redevelopment Authority Board Member Bob Entzion said.This year, Lake County will take a bigger step towards filling a continuous need.
"There are people out there who would like to get their houses fixed up and cleaned up,” said Entzion. "It's hard to get loans it's hard to get funds."
Two Harbors and Silver Bay have been awarded $1.3 million from the Minnesota Department of Employment and Economic Development.
It’s the largest award in the state given to rehabilitate homes and businesses in targeted areas.
"Anytime you can improve on housing on a block it's gonna enhance the values of other houses on the blocks,” said Entzion.
"It inspires other property owners and other folks to take a look at their property and makes some changes," said Scott Zahorik, director of housing services for the Arrowhead Economic Opportunity Agency.
Homeowners can receive $24,000 to fix up their properties, while businesses are eligible for nearly $40,000 to pay for their renovations.
Homeowners can renovate virtually anything attached to the home itself with the money and businesses can use the funds to repair their store fronts.
"It's more to keep the integrity of the building viable," said Zahorik.
Board members believe the remodeling projects will create a lot of economic impact in the long run by creating jobs and drawing in future homeowners.
"If it's improving the quality of the housing market and the values of the houses it's just going to enhance people that want to look at areas like our areas,” said Entzion.
Officials tell FOX 21 News the hefty grant will not completely take care of the needs in either county, but they believe it will open up the door to bigger projects.
The funds will be given out in the form of a low interest loan, but if you stay at the property for ten years you do not have to pay it back.