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^ Building officials estimate that roughly 70% of all foreclosed homes are unoccupied. <br />^ High level of interest in NSP funds. <br />^ City staff does have past CDBG administration experience. <br />Buffalo (55313) <br />^ Most foreclosures occurring in 4 newer sub divisions. A number of these units have <br />been built but never lived in. <br />^ 12 or so foreclosed homes throughout town in core neighborhoods. <br />^ Currently 146 registered vacant properties. <br />^ Number of for-sale units converted to rental, however maintenance and upkeep is a <br />serious concern. <br />^ Enforcing ordinances to ensure properties are maintained is an increasing need and <br />expense. <br />^ Passed new rental ordinance with fee to register properties in order to track actual <br />ownership of property. <br />^ Passed utility ordinance to allow city to recapture back fees when tenant/owner leaves <br />to have fees assed back to title holder. <br />Saint Michael (55313) <br />^ 147 units currently in foreclosure city-wide. Small portion of town in 55313 zip code <br />(mostly Buffalo) with limited foreclosure impacts in almost all rural area - no new <br />projects or municipal infrastructure extending to this small part of town. <br />^ 3 newer subdivisions in 55376 zip code impacted, with approximately 18 half-built <br />homes. <br />^ 100+ homes in neighborhoods with approximately 10 homes valued under $180,000. <br />^ No past experience with administration of CDBG funds. <br />^ No new staff needs identified. <br />Elk River (55330) <br />^ 148 Foreclosures in Elk River through September 16, 2008. <br />^ 24 or more homes in older neighborhoods in foreclosure. Price range: $ 125,000 - <br />$200,000. <br />^ Large number of foreclosures traced to new sub division development - 15 units in two <br />developments -Elk River Station and Trott Brook Crossing. <br />^ No known rental properties in foreclosure. <br />^ Have seen a shift from for-sale to rental-occupied as home sales/market has suffered. <br />^ City staff has past CDBG administration experience. Is not anticipating any new staff <br />needs to respond to foreclosure impacts. <br />Otsego (55330 and 55362) <br />^ Interest in using NSP funds to address 12+ foreclosed units that have suffered <br />substantial water damage due to vacancy. <br />^ Large number of foreclosures traced to I new sub division development where 88 <br />individual lots were foreclosed on. <br />^ High number of foreclosures located in 2 new higher-end developments. <br />^ 30 or so duplex/4-plex/6-plexes where at least I unit is in foreclosure. Concern to <br />maintain/prevent damage until units begin to resell. <br />Monticello (55362) <br />^ 3 partially developed new subdivisions with approx 25% of all built homes in foreclosure. <br />^ Substantial devaluation of homes in current market. All units now under $180,000. <br />