4.3. SR 11-08-2004 - Laserfiche WebLink

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~~~:-;.'. \1'.,:r.~ -\' ..--...;:.... "'.: "~ .:::;'f ~:~,:'1}JjI:~~~ GREATER MINNESOTA HOUSING FUND'S ~ ~,.. ~ '", " ... G C I <-~.:-- t"'rt "I "', .~ ~ ROWTH ORRIDOR NITIATIVE - " ~~' ; , ,J~, '. "~"1~) _ _ _."i\...". ......~ ...._ e) Homes must be connected to city sewer and water. I) Homebuyer Acquisition Cost Limit (ACL) is not to exceed the GMHF ACL. The ACL is revised annually. 2004 Income Limits (80% of Statewide Median) ADJUSTED FOR FAMILY SIZE F amilv Size GMHF Income Limits 1 $37,000 2 $42,200 3 $47,500 4 $52,800 5 $57,000 6 $61,200 7 $65,500 8 $69,700 Funding sources such as tax increment financing, HRA levy and/or funding from the Minnesota Housing Finance Agency will allow for a broader range of incomes to be served. Market rate homes will be priced according to the market demand. Please refer to other funders' guidelines for other income requirements. Additional Model Project Priorities In addition to meeting the minimum requirements, projects will be given additional consideration if their final application evidences that one or more of the following will be a part of the development. This list is for reference purposes only and does not constitute an agreement or obligation on the part of the Greater Minnesota Housing Fund to provide funding to any particular project. . Employer involvement through fmancial contributions; . Reduced fees for developer, realtor, and/or tide company; . Reasonably priced site based on comparable land sales in the area; . Mixed-income development, providing a range of housing styles and lot widths; Use of innovative building techniques that reduce costs or improve livability; Inclusion of neighborhood public space to promote resident interactions. " ,I" '" j GREATER MINNESOTA HOUSING FUND III ",I, il! P', I (I oi I ()