Osakis City Council approves participation in homebuyer program

OSAKIS — The Osakis City Council approved participation in a program that aims to help first-time homebuyers.

The action was taken at the council's regular meeting on Monday, Jan. 10.

According to a handout provided to the council, the Minnesota City Participation Program is managed through Minnesota Housing and allocates funds to communities to use for first-time homebuyers for help with a down payment or closing costs.

The first-time homebuyers access the program through their local lenders, the handout read.

By approving participation in the program, the city is on the approved participation list and has first option to the funds.

The requirement of the program is that city's have to use at least 50% of their allocation each year or they are not allowed to participate the following year, the handout read.

Osakis was enrolled in the program in 2019 and 2020, but was unable to participate in 2021 because the 50% requirement was not met.