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ITEM # 8. <br />ver <br />MEMORANDUM <br />TO: Housing and Redevelopment Authority <br />FROM: Heidi Steinmetz, Assistant Director of Economic Development <br />DATE: April 4, 2005 <br />SUBJECT: Update on Housing Programs <br />Minnesota City Participation Program (MCCP) <br />Background <br />From 1991 to 1996, the HRA participated in the Minnesota Housing Finance Agency's <br />(NIHFA) Minnesota City Participation Program (MCPP), which provides loan dollars to <br />qualified first time home buyers. The HRA has not submitted separate applications for the <br />program for the past several years since Sherburne County has done so and has been <br />awarded annual allocations. <br />Update <br />Sherburne County applied fora 2005 allocation and was recently awarded $1,344,996. Staff <br />will be attending an informational session on the program on April 11`". Details about the <br />program will be added to the City Website after the informational session. <br />HOME Rental Rehabilitation Program <br />Background <br />In early January of each year, staff forwards HOME Rental Rehabilitation Program <br />information to Elk River apartment property owners/managers. The program provides <br />funding that is available through the Central MN Housing Partnership (CMHP) as a loan <br />with a 0% deferred interest rate for the rehabilitation of existing rental properties located in <br />several Central MN counties, including Sherburne County. In recent years, only the <br />property owner of Lanesboro Heights in Elk River has utilized the program. <br />U date <br />Staff received two inquiries earlier this year from apartment owners/managers regarding the <br />HOME program however CMHP has indicated to staff that neither inquiry led to utilization <br />of the program. <br />Jeff Smith, File Prevention Specialist for the Elk River File Department, is conducting <br />apartment inspections this year. During his inspections, he is distributing HOME program <br />