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ACQUISITION/DEMOLITION <br />CDBG funds may be used for this, provided that the re-use is an eligible activity. If <br />it's a new house, it has to be affordable. <br />Senior Housing Regeneration Program <br />The Senior IIousing Regeneration Program (SHRP) is a five-year <br />demonstration program to preserve and improve exiting housing and create <br />affordable home ownership opportunities for families. Under the SHRP <br />program, the Greater Metropolitan IIousing Corporation (GFIMC) purchases <br />homes from elderly owners who are moving into townhomes, senior housing, <br />or assisted living. GMHC purchases the homes "as is" and rehabilitates each <br />property, bringing it up to code in the community in which the home is <br />located. This includes removing functional obsolescence from properties. The <br />homes are then sold to new first -time buyers with incomes at or below 80% of <br />area median income. Home prices will be capped at $175,000. Ramsey <br />County has provided CDBG funds to allow for participation by suburban <br />Ramsey County communities. <br />If Little Canada is looking for a broader approach and a resource for homeowners of <br />any income level, the Housing Resource Center in Shoreview is really the only <br />agency available in Ramsey County. A number of other suburban Ramsey County <br />communities participate: Falcon Heights, Roseville, Shoreview, Mounds View, New <br />Brighton, and North St. Paul. <br />For participating communities, the HRC provides homeowners with numerous home <br />improvement loans, and construction management, including information on <br />construction, building codes and permits, site visits with homeowners regarding <br />home improvements, written scope of work, assistance in reviewing contractor bids, <br />proposals and estimates, assisting homeowners during the construction process <br />Please lot mo know it you need information that is more spocific. <br />5 <br />