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, <br /> 0 <br /> -Wa i4 9 Veudaf,meat 2U ie t4 ,Scant? <br /> • Identify type of housing need-Market Study <br /> - Rental,Single Family Homeownership <br /> • Specific area challenges <br /> - High land costs <br /> Creativity and Connections Lack of developers <br /> Y - NIMBYism <br /> • Potential Partnerships <br /> Presented by Bruce Thielman.Deputy Director - Non-Profits <br /> And Wendy Hulsebus,Housing Development Manager <br /> - Experienced Developers <br /> St Cloud HRA <br /> - Power Companies,local employers,banks etc. <br /> 2114at'a uz a 714mre? 'eatae ga«usuy Red Oaleed <br /> Affordable Housing Market Rate Houses <br /> alliillIlIllIIIIIIIIIMIMIIIMMIIIMIMIIIIIM 411111111..1111111111111=111111111111 <br /> • LIHTC tax credit program MHFA <br /> • r • HOME Funds <br /> ,iiiii, • Project Based Assistance <br /> . _ - .. • Preservation of existing affordable housing <br /> I����� _ •Sunset of 4(d)program <br /> •Older LIHTC properties <br /> u • Management of Assistance Programs <br /> abstwood village Home$135000 <br /> Same Buller 2 Blocks/bawl „,. • Partnering with local non-profits <br /> 528,000 Deferred Loan Similar At ZtA5,000 <br /> No Financing Available <br /> 17/ e4/r/4/0414d` elia9e 70evrtoteord gamceatzweato 'aee <br /> • All rents at FMR � • Target income <br /> • 2 BR Rents$547 ,11” - The lower the income,the more partners needed. <br /> • 3 BR Rents$625 L. •A, of employment <br /> • Project Based Assistance , „ . ,' • Area lenders willing to learn and facilitate <br /> • MARIF Units$400 rent process <br /> • First Mortgage US Bank ' <br /> • Richman Group Equity "'t " •• Acceptance of market to new housing choices <br /> • MHFA Deferred Loan <br /> • GMHF Deferred Loan <br /> • <br /> 1 <br />