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Funding Accounts <br />The Metropolitan Livable Communities Act (MN Stat. Ch. 473.25) created the Livable Communities <br />Fund, consisting of three accounts: <br />• The Tax Base Revitalization Account, which provides grants for polluted site cleanup; <br />• The Livable Communities Demonstration Account, designed to fund a variety of community <br />development projects through loans or grants; and <br />• The Local Housing Incentives Account, which provides grants to help cities work toward <br />affordable and life cycle housing goals through a voluntary program. <br />Criteria, by law, for the fund (all three accounts) include: <br />• Helping to change long -term market incentives that adversely impact creation and preservation <br />of living -wage jobs in the region's fully developed area. <br />• Creating incentives for developing communities to include a full range of housing <br />opportunities. <br />• Creating incentives to preserve and rehabilitate affordable housing in the fully developed area; <br />and <br />• Creating incentives for all communities to implement compact and efficient development. <br />Each of the accounts is described on the following pages. <br />gideline.pm5 8 -16 -95 <br />Page 110 <br />