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MINUTES <br />CITY COUNCIL WORKSHOP <br />JUNE 8, 2016 <br />mortgage assistance for closing costs, down payment assistance programs, <br />and interest -buy -down programs where a city buys down the interest rate <br />for loans. She explained that they don't want to compete with local banks, <br />and instead are trying to fill a gap for people who can't otherwise get <br />funding. She noted that one of the reasons that fewer loans are from the <br />Housing Resource Center in Shoreview is because the Ramsey County <br />funded loans can be deferred, so many people will choose to wait for these <br />instead of utilizing other loan programs where they have to make <br />payments. <br />The City Administrator stated that there are many factors to consider in <br />creating a housing rehabilitation loan program, and the Council will need <br />to decide where to focus the funds. There was consensus among the City <br />Council to continue the discussion on creating a housing rehabilitation <br />loan program, and the City Administrator will bring more specific <br />program ideas back to the Council at another Workshop. <br />ADJOURN There being no further business, the meeting was adjourned at 7:26 p.m. <br />John/f. Keis, Mayor <br />Attest: �------ <br />0 <br />_ <br />oe 1-I- son, City Administrator N <br />3 <br />