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Historic Tax Credits <br />Any project utilizing historic tax credits must be a designated historic or a contributing member <br />of a designated historic district to be eligible. They can only be used in conjunction with the <br />rehabilitation or conversion of an existing structure. <br /> <br />Community Activity Set-Aside Prom:am (CASA) <br />Provides lenders, local government and/or non-profit housing providers with set-asides of <br />MHFA mortgage revenue bond funds to provide low interest rate financing for homeownership <br />opportunities. <br /> <br />Other programs administered by MHFA that are not included in the RFP include: <br /> <br />HOME Program Rental Rehabilitation Grant Pro,qram <br />Provides grants by utilizing Federal HOME funds for the rehabilitation of existing rental <br />properties. Funding is coordinated through a local administrator which is the Central Minnesota <br />Housing Partnership. <br /> <br />Deferred Loan Program <br />This program assists low-income homeowners in financing home improvements with 0% <br />deferred loans. This program is available through local Community Action Agencies. <br /> <br />Great Minnesota Fix-Up Fund <br />This program provides low interest loans to assist homeowners in making housing improvements <br />that increase the livability and energy efficiency of existing housing. <br /> <br />Greater Minnesota Housing Fund <br />Multi-Family Development Assistance <br />Three types of assistance can be provided for affordable multi-family rental housing. They <br />include gap financing, interim financing and employer assisted housing. Gap financing provides <br />0 to 1% interest deferred loans with the term matching that of the project's first mortgage. <br />Interim construction financing is available at a 0% interest rate for developers during the <br />construction period. Finally, matching funds are available for multi-family projects that have a <br />significant commitment from local employers. <br /> <br />Single Family Assistance <br />The Greater Minnesota Housing Fund has three programs which fund activities related to single <br />family homeownership and include gap financing, homebuyer education financing, and entry <br />cost assistance. Gap financing is typically structured as a 0% interest, deferred second mortgage <br />loans that are due on resale. Gap financing can be structured through different programs <br />including the Building Better Neighborhoods Home Initiative, the New Home Construction <br />Program, and Employer Assisted Housing. <br /> <br />GMHF also provides funding for pre and post purchase homebuyer counseling. The Central <br />Minnesota Housing Partnership is the primary provider of homebuyer education in Central <br />Minnesota. <br /> <br /> <br />