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• <br /> • MOUNDS VIEW <br /> Economic Development Authority (EDA) <br /> Home Improvement Loan Program <br /> Draft 4- September 27, 2010 <br /> Statement of Purpose <br /> The purpose of the Mounds View EDA's Home Improvement Loan Program is to <br /> eliminate the negative and blighting influence of substandard housing in Mounds View <br /> and to increase the availability of quality housing for residents. <br /> Program Funding <br /> The program is funded by the EDA through Tax Increment Financing. <br /> • Loan Administration <br /> Zero-interest deferred loans shall be administered by the Housing Resource Center, <br /> NorthMetro Office, a division of the Greater Metropolitan Housing Corporation (GMHC). <br /> Program Options <br /> The program offers the following four options for participation, which are described in <br /> subsequent pages of this document. <br /> 1. Demolition Deferred Loan <br /> 2. General Home Repair Deferred Loan <br /> 3. Code Enforcement Deferred Loan <br /> 4. Emergency Deferred Loan <br /> 40 <br />