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oo3.itao <br />0 <br />January 4, 1983 <br />To: Metro HRA Participating Communities <br />Re: Rental Rehabilitation Loan Program <br />Metropolitan Council <br />300 Metro Square Building <br />Seventh and Robert Streets <br />St. Paul, Minnesota 55101 <br />Telephone (612) 291M359 <br />The Metropolitan Council Housing and Redevelopment Authority <br />announces the availability of its Rental Rehabilitation Loan <br />Program for the improvement of residential rental property in <br />Me.tropni »tan Area communities. <br />The Rental Rehabilitation Program provides below- market interest <br />rate rehabilitation loans to owners of rental property occupied <br />primarily by low- and moderate- income households. Metro HRA is <br />administering this program in conjunction with the Section 8 <br />Moderate Rehabilitation Program. Both programs are designed to: <br />Rehabilitate private rental units which are substandard <br />or have major building components in need of repair or <br />replacement; and <br />Provide property with energy improvements for compliance <br />with state energy conservation standards for rental <br />housing. <br />Because rental property qualifications vary between the two <br />programs, the Rental Rehabilitation Program will offer alternative <br />rehabilitation opportunities to owners whose property is not <br />feasible for the Section 8 program. <br />Metro HRA invites your city to participate in the Rental Rehabil- <br />itation Loan Program. By authorizing the implementation of this <br />program, your community can: <br />- improve local rental housing stock and increase the <br />number of standard housing units available to low- and <br />moderate- income families; <br />- Achieve rehabilitation and low- and moderate- income <br />subsidized housing goals in your Housing Allocation Plan; <br />- Increase your Policy 39 housing performance score; and <br />- Leverage CDBG funds in local rehabilitation projects. <br />A brief summary of the program and a sample resolution are enclosed <br />00 <br />An Equal Opportunity Employer <br />