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Item Numbers: 6C <br /> Meeting Date: April 18, 2008 <br /> Type of Business: EDC <br /> City of Mounds View Staff Report <br /> To: Economic Development Commission <br /> From: Heidi Steinmetz, Economic Development Specialist <br /> Item Title/Subject: Continue Discussion Regarding Housing Replacement <br /> Program <br /> Background: <br /> The City's Housing Replacement Program policy was last updated in July of 2007 and is <br /> attached for the EDC's reference. The program is geared toward providing demolition <br /> assistance through Tax Increment Financing (TIF), which is provided as a ten <br /> year/forgivable deferred loan. <br /> • The program is administered by the Housing Resource Center, which is a program of <br /> the Greater Metropolitan Housing Corporation. GMHC's mission is to preserve, improve <br /> and increase affordable housing for low and moderate income families, as well as assist <br /> communities with housing revitalization. <br /> There are five Housing Resource Center service areas throughout the Metro. Mounds <br /> View is part of the "North Metro" service area. Attached is a list of programs available to <br /> those who wish to improve Mounds View's housing stock. <br /> Issue: <br /> Housing rehabilitation assistance is not available through the City's Housing <br /> Replacement Program but it is available through the Housing Resource Center. <br /> Recommendation: <br /> Staff recommends that the EDC consider the following questions regarding the Housing <br /> Replacement Program: <br /> • Does the EDC believe that the Housing Replacement Program policy should be <br /> expanded to help address the current housing market? <br /> • Does the Housing Replacement Program and the Housing Resource Center <br /> programs meet the needs of the community? <br />