Olmsted County Housing and Redevelopment Authority announces funding opportunity for GAIN program
April 28, 2026
The Olmsted County Housing and Redevelopment Authority (OCHRA) has released its 2026 Notice of Funding Opportunity for the Growing Affordable Inclusive Neighborhoods (GAIN) program. This announcement is especially important for developers, builders, and construction companies interested in creating more modest, lower‑priced homes in our community.
GAIN is designed to increase the number of owner‑occupied homes priced at or below $350,000. These homes can help first‑time buyers enter the market and give seniors more options to downsize. The program also helps reduce builder risk, support production, and deliver homes that meet community needs.
OCHRA has set aside $3 million for this program. The money may go to one project or be shared among several. Applications are open through June 15, 2026.
Funding will be prioritized based on the following:
- Building as many homes as possible.
- Short development timelines.
- Serving households at 80% to 115% of the area median income.
- Using infill sites.
- Keeping homes owner‑occupied for at least five years.
- Sale prices at or below $350,000.
- Funding only home construction costs.
Developers from the public, private, or nonprofit sectors may apply. Selected projects will sign a development agreement that covers roles, timelines, building standards, and loan or assistance terms. OCHRA will hold the first‑priority mortgage on funded projects, with repayment due when the home is sold to a qualifying buyer.
How to apply
Applications are open through June 15, 2026. Visit the Olmsted County website for application materials and instructions.
Questions may be directed to Housing Project Manager Mark Engel at 507‑328‑7127 or mark.engel@olmstedcounty.gov.