The city of St. Paul opens Rondo Inheritance Fund
The financial assistance program aims to address the decades old history of displacement and loss
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The Rondo neighborhood of St. Paul, once a lively and vibrant epicenter, was divided into two by the construction of I-94 in the 1950s. Hundreds lost their homes and were displaced with few options to acquire a new home due to redlining and other discriminatory practices.
Decades later, the city of St. Paul is looking to make amends.
Beginning today, the Rondo Inheritance Fund is officially open to direct descendants of those impacted. Those eligible can get up to $110,000 in forgivable loans for a down payment on a home or up to $80,000 for home repairs.
This is a higher amount than what is already being offered through the Down Payment and Homeowner Rehab assistance programs.
St. Paul’s Housing Director Tara Beard hopes it can help to rebuild the millions of dollars lost in generational wealth. But Beard also recognizes this is only a first step.
For more on the Rondo Inheritance Fund, click play on the player above.
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