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• Amount allocated; 2) Amount of allotment used (sum of dollar amounts of home <br /> mortgage loans purchased and home mortgage loans in process at lending <br /> institutions). <br /> V ECONOMIC VIABILITY <br /> Describe why you feel there is sufficient demand in your market to use the MCPP funds <br /> requested in this application. Indicate the data sources used to project demand, such as. <br /> real estate sales over the past year; Realtor, builder or lender information; indicators of a <br /> housing shortage; and/or recent area business/economic expansion. <br /> VI. NEW CONSTRUCTION REQUIREMENTS—(Greater Minnesota) <br /> Complete this section if your program involves the financing of newly constructed <br /> homes. <br /> If you wish to fund new construction development with MCPP funds, attach the following <br /> information: <br /> A. Your city's efforts in promoting the improvement, preservation, or financing of <br /> existing housing stock. <br /> • B. Any exclusive "set-aside" arrangements of MCPP funds for specific builders, <br /> developers, or Realtors, and terms involved. MCPP proposals which involve these <br /> types of set-asides must include one of five specific "affordability initiatives" (see <br /> Attachment 1). Include details on the affordability initiative utilized. <br /> C. Outline the key reasons why the development of new housing is needed in your <br /> community. <br /> VII. SIGNATURES <br /> Provide authorized signature(s) from the organization placing this application, including <br /> printed or typewritten name, title and phone number. <br /> • <br /> • <br />