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• Preparation and release of five press releases <br />• www.ci.elk-river.mn.us/nsp <br />• Creation and distribution of pamphlet <br />• Success stories in ERStar News <br />• County marketing meeting <br />• Staff & Tri-CAP have presented to local realtor groups <br />• Facebook & Twitter <br />• One and one meetings with realtors and home buyers <br />NSP de-obligation of funds <br />On March 9, 2010, staff was notified that after much review and consideration Minnesota <br />Housing Finance Agency (MHFA) recommended the Ciry of Elk River for deobligation at <br />its March Board meeting. MHFA is required by statute to obligate 100% of its <br />Neighborhood Stabilization Program grant within 18 months from the program's inception. <br />The deobligation of funds, although an unpleasant and unfortunate process, is necessary to <br />ensure all program funds axe committed prior to the September deadline, and therefore <br />utilized in the State of Minnesota. The money will be reallocated to other entitlement <br />communities who have a greater need for the money. <br />Next steps <br />Staff will work with Tri-CAP and MHFA to execute all necessary contract amendments <br />necessary to complete the deobligation process. The HRA and Tri-CAP will continue to <br />work together on remaining down payment assistance applications until funds are spent <br />down. <br />Staff continues to receive foreclosure data and will continue to promote new and existing <br />foreclosure resources and housing financial programs to the community. <br />