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Special Meeting: <br />For Foreclosure Impacted Communities in Greater Minnesota <br />PREPARING TO ACCESS THE FEDERAL <br />NEIGHBORHOOD STABILIZATION PROGRAM (NSP) <br />FORECLOSURE RECOVERY <br />Regional Program & Strategy Meeting <br />Friday November 21, 2008 <br />Elk River Holiday Inn <br />9200 Quaday Ave. NE, Elk River, MN 55330 (ma ) <br />12:00 am TO 3:00 pm <br />Event is free -- Box Lunch Provided <br />RSVPs required for lunch counts by end of the day Thursday November 20"'. <br />o Neighborhood Stabilization Program (NSP) Funding Overview <br />o Highly Impacted Areas -- Eligible Zip Codes <br />o Foreclosure Recovery Program Strategies <br />o Best Practices, Program Frameworks, Minnesota Examples <br />o Planning and Technical Assistance Resources <br />Sponsored by: <br />Greater Minnesota Housing Fund <br />Minnesota Housing <br />Register Online Here <br />.~ ~ I ~ ~ ~ 'M Hausaota <br />~ FInQn4C /~c,Cn <br />Background: The Housing and Economic Recovery Act (HERA), which was signed into law in July 2008, <br />will bring $58 million of new federal resources to the state of Minnesota to support a variety of foreclosure <br />recovery activities under the Neighborhood Stabilization Program (NSP). Approximately $20 million has <br />been designated directly to metro-area jurisdictions, and $38.8 million will be administered by Minnesota <br />Housing for use in highly-impacted communities in both the metro and greater Minnesota. <br />Federal Monies for Your Community: The Draft plan Qust released) lists communities in the greater <br />Minnesota counties listed below as eligible for up to $4.7 million of the state portion of NSP funds. Zip <br />codes in the communities of Isanti (55040), Big Lake (55309), Buffalo (55313), Saint Michael (55313), Elk <br />River (55330), Otsego (55330 and 55362), Monticello (55362), Princeton (55371) and Zimmerman <br />(55398) have been identified in the Draft Plan as eligible to apply for certain allocations of funds in a non- <br />competitive pool. Additionally, communities in Sherburne, Isanti, Benton, Chisago, Stearns, and Wright <br />counties may apply for funds in a designated $6 million competitive pool. <br />The Draft Plan is available for review and public comment: <br />http://www.mnhousingaov/resources/aoply/MHFA 007433.aspx//www.mnhousin~.aov/resources/apply/MHFA 007433.aspx. <br />Important Dates: <br />• Public comments due November 24, 2008 <br />• Applications for funds due January 17, 2009 <br />