Numbers show impact of Housing Rehab Program

Numbers show impact of Housing Rehab Program

    After an approved housing rehab loan from Crookston Housing & Economic Development Authority and one year of renovations, a rehabilitated home on Central Avenue has been listed for sale by the Adams family. Dean Adams, who owns Adams Heating & Cooling, and has completed many construction projects in the community including other house “flips”, was approved for a $50,000 loan on March 17, 2020 and has transformed the house inside and out.

    The 2020 loan was Adams’ fourth rehab housing loan and CHEDA noted that he had “a good history with repayment criteria of the loan with a flawless record of paying on time with required interest accrued” and that Adams owns other properties within Crookston that “service the community” with housing rental units.

    CHEDA also said that Adams’ before and after pictures of other loan-approved projects have been viewed widely as “exactly meeting the goals of the program in that the property tax base in Crookston has been strengthened and the community vitality and appearance is improved.”