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The City of Elk River/HRA has numerous administrative <br /> resources available to ensure that the 1996 MCPP is successful. <br /> City/HRA staff has extensive experience with a variety of <br /> housing programs. While the HRA will oversee the 1996 MCPP, <br /> building code interpretation and zoning enforcement rests with <br /> the building officials and the building and zoning administrator. <br /> Applications for mortgage funds will be reviewed by the five <br /> participating lenders in the Elk River program. <br /> IV. PROGRAM SPECIFICS <br /> (a) The 1996 MCPP is consistent with the city's Comprehensive <br /> Land Use Plan because it helps encourage a wide range of <br /> housing options in Elk River. This includes the preservation of <br /> existing single family homes plus the construction of new ones. <br /> (b) Borrower limits for the Twin Cities Metropolitan Statistical <br /> Area (MSA) is $40,800. This income limit is extended to the <br /> eleven-county metro area - including Sherburne County, where <br /> Elk River is located.. <br /> (c) The proposed maximum purchase price limits for the 1996 <br /> MCPP is $95,000 (new construction and existing home. . <br /> purchases). <br /> (d) No targeting of specific population groups is planned in Elk <br /> River for the 1996 MCPP. <br /> (e) No targeting of housing stock is planned in Elk River for the <br /> 1996 MCPP. <br /> (f) No optional program enhancements are planned. <br /> (g) MCPP funds will be made available to eligible applicants based <br /> on a timetable that is consistent with the release of funds <br /> through the Minnesota Housing Finance Agency. <br /> (h) The Elk River HRA seeks the "maximum allowable" allocation <br /> for the 1996 MCPP. <br /> (i) Does not apply. <br /> (j) Does not apply. <br />