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Communities awarded NSP funds from Minnesota Housing are permitted to use up to 8.7% of <br />their grant award to cover administrative costs. A community may use these funds to reimburse <br />themselves for NSP eligible costs dating back to September of 2008. Therefore Applicants that <br />are awarded technical assistance funds must agree that if they are awarded NSP funds by <br />Minnesota Housing they will pay back GMHF's loan out of their NSP award. (LOAN TERMS: <br />repayment due within 30 days of receipt of NSP award, 0% interest). <br />The technical assistance funds provided by GMHF may only be used for consultant(s) to work <br />on activities that are NSP eligible expenses. <br />Eligible NSP Administrative Expenses Include: <br />^ Creating the NSP Plan <br />^ Preparing the NSP Grant Application <br />^ Satisfying the criteria for citizen involvement <br />^ Research (foreclosure data, mapping and identifying target neighborhoods, financial <br />projections) <br />^ Home inspections <br />^ Identifying and contracting with a CDBG Administrator <br />^ Program design and activities plan <br />In addition to the above expenses, a consultant could assist the City or County in one or more <br />of the following activities: <br />^ Drafting the NSP application <br />^ Public approval notices and hearings <br />^ Preparation of exhibits to be included in the plan <br />Successful Applicants will be required to enter a loan agreement with GMHF incorporating the <br />terms outlined in this Application. <br />If the Applicant is not the City or County where the Project is located or any other person <br />representing the City or County, the City Administrator or other person of authority within the <br />City or County must also sign this Application. <br />The award and acceptance of technical assistance funds does not in any way guarantee that the <br />Project will receive other types of funding from GMHF, including, but not limited to <br />construction loans, infrastructure loans, and gap loans. <br />GREATER MINNESOTA HOUSING FUND <br />Technical Assistance Funds for Eligible Neighborhood Stabiliution Program (NSP) <br />Foreclosure Recovery Planning and Application Expenses <br />Page 2 of 3 <br />