August 9, 2017

Celebrating the Financial Closing of Bois Forte Homes

Bois Forte Homes

The Bois Forte Band of Chippewa Tribe is celebrating the recent closing of Bois Forte Homes III. The new development will add 20 affordable homes for families and formerly homeless households on the Reservation of the Bois Forte Band of Minnesota Chippewa Tribe. Homes will be located at both Vermillion Lake and Nett Lake, and the overall development has a strong focus on green building.

Financing

Minnesota Chippewa Tribe Finance Corporation will provide construction financing of $3 million. Permanent financing includes a $500,000 AHP loan from Federal Home Loan Bank and $263,971 from Minnesota Housing. Enterprise will provide $5.08 million of equity.