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Targeted Nei~l~bo~•hood~ <br />Due to a lacy of homes in the affordability pt•ice point of the NSP p~og~am, the <br />neighbo~haods of ~Iindsor Oaks and Path Pointe have been eliminated from the <br />progt:am. <br />In addition to Ells River Station and Trott I~~ool~ subdivisions 1-12, the following <br />neighborhoods have been added to the p~og~am based on staffs most fecent <br />analysis of fofeclosuie concentrations and tithe on the tna~ket; <br />ALL Trott Brook subdivisions now including Mashes of Trott <br />B~ool~ and Trott I3xool~ subd. south of County Road 12} <br />® "Downtown Neighbo~l~.ood": includes Sandpiper Estates, Country <br />Cfossing, Grandview and He~:itage Landing} <br />~ Twin Labe Townhomes <br />~ Down Payment Assxs~ance <br />o Staff prapased and MHFA approved increasing the dawnpayment assistance <br />progt~am eligibility from X5,000 to now $10,000-X15,000 based an income. <br />Next Steps NSP <br />Staff completed its G- month checl~ in with. MN Housing Finance Agency ~IVIHFA~ in <br />Septembet.• to discuss the program's p~•ogress. P~:oposed amendments were submitted on <br />September 17th and were approved October 16t1~. Staff and Tii-CAP will begin tnail~eting <br />the proposed changes with local realtors, lenders and potential ho~~.e buyers after the formal <br />announcement at the November HRA meeting, <br />Staff continues to receive foreclosure data and is monitoring neighborhoods for potential <br />additions/revisions to the existitag NSP targeted neighborhoods. Staff attended a 2wday <br />training in September which addressed challenges in the NSP funding process anal other <br />federal requirements. <br />Foreclosufe Preventzon <br />Staff continues to provide foreclosure prevention information to the community. The <br />master vacant/foreclosure property list is also available to the public upon request. <br />S:IEDAIHRAIHOUSINGIFo~eclosuxelNSP FundznglMemos111,2,09 HR~A update.doc <br />