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-2- <br /> (II. IIC)l_SING PLAN <br /> Attach a copy of the "Housing Plan" developed for your community. At a <br /> minimum, each plan must contain the following information: <br /> (a) A description of your city's principal housing needs. <br /> (b) The data sources or methods used to determine the described needs. <br /> (c) The specific plan developed to meet your identified housing needs, including <br /> the resources to be accessed, and the methods used to carry out the plan. <br /> (d) Description of any target areas to be addressed in the plan. <br /> CO How the plan will be implemented and the administrative capacity of your city <br /> to do so. <br /> Note: If you have already completed a Housing Plan in accordance with <br /> Minnesota Statutes, Section 462C.03 within the past 12 months, you may attach <br /> a copy in lieu of the above requirement. Housing Plans developed over 12 <br /> months ago are also acceptable, provided that the information contained <br /> therein is still valid. and the plan is updated with appropriate attachments and <br /> comments. <br /> I v. pRoGRA\I SPECIFICS <br /> Attach a description of your first-time homebuyer program proposal, including the <br /> following information: <br /> (a) How your program fits into your comprehensive housing plan. <br /> (b) Borrower income limits. (See the attached cover letter for limitations.) <br /> (c) Home purchase price limits. (See the attached cover letter for limitations.) <br /> (d) Targeting of specific population groups, if any (e.g., minorities, handicapped, <br /> business employees, etc.). <br /> (e) Targeting of area or housing stock, if any (e.g., rehab areas, new construction <br /> developments, etc.). <br /> CO Any optional program enhancements such as subsidy funds, waived fees, use <br /> of tax-forfeit properties, etc. <br /> (g) Any proposed schedule for release of funds (whether immediate, delayed, or <br /> on a proportional/divided basis). <br /> (h) Why you feel this program is a good candidate for funding. <br /> V. ECONOMIC \ LABILITY <br /> Describe why you feel there is sufficient demand in your market to use the MCPP <br /> funds requested in this application. Indicate the data sources used to project <br /> • demand, such as: <br /> MCPP-1-136A <br /> 2n 0+00 <br />