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<br /> WHEREAS, families in the Sherburne County part of the City <br />of st. Cloud can earn up to 26% more than families in the Benton . <br />and Stearns County parts of the City of st. Cloud and qualify for <br />the same level of federal housing program assistance due to the MSA <br /> <br />realignment; and, <br />WHEREAS, a home located in the Sherburne County part of the <br />City of st. Cloud qualifies for an FHA mortgage limit of $110,200 <br />versus a home located in the Stearns or Benton County part of the <br />City of st. Cloud will qualify for an FHA mortgage limit of $87,100 <br />due to the MSA realignment; and, <br />WHEREAS, federal low income tax credit rental housing <br />program funds will allow a maximum rent as high as $744 per month <br />for a project located in the Sherburne County part of the City of <br />st. Cloud versus $591 per month if the project is located in the <br />Stearns or Benton County part of the City of st. Cloud due to the <br />MSA realignment which not only creates inequities but also will <br />enable developers and syndicates to access tax credits for a <br />project that may not be serving low income persons; and, <br />WHEREAS, Davis-Bacon construction and McNamara-O'Hara <br />service contracts for projects located within the Sherburne County <br />part of the st. Cloud area will require wage rates that conform to <br />the Twin Cities MSA wage rate survey; and <br />WHEREAS, economic development and marketing efforts for the <br />st. Cloud area will be detrimentally impacted as a result of the <br />reduction in MSA ranking from 187 to 214 as a result of the recent <br />realignment, particularly for national and international company <br />activities and those communication industries that are impacted by <br />arbitron ratings; and, <br /> <br />. <br /> <br />. <br />