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the funds would go further. I would just need to apply to MHFA on your behalf (with a letter of <br />endorsement) and hopefully have it up and running January 1, 2018 if we could get it on the MN <br />Housing agenda soon. <br />An example would be: Loan amount $15,000, loaf <br />the buydown and $125 to us for administering and <br />$25,000 annually into this program. <br />term 10 years it would cost the city $1,804.93 for <br />processing the loan. The other cities are putting <br />Mounds View Last Resort: If a borrower isn't eligible for the regular loan have a 0% deferred option <br />for emergency situations; leaking roof, plumbing, code violations, no heat, etc. Borrowers must be <br />current on mortgages and property taxes. Can add an income limit. <br />Please give me a call with questions, but give me a call if interested in how the subsidy works. If you <br />think just a home improvement loan and a last resort would work I can put together the guidelines and <br />a draft of a contract to review. <br />Jim <br />Jim Hasnik <br />mar a anfl els;t i fan rnie ,; <br />t <br />212 Third ,l,,s, { )54O 1 <br />f <br />(ia%) 612-3135-5885 1 www.npAendingenter.org <br />g <br />This e-mail transmission and any attachments accompanying it may contain confidential and/or proprietary information <br />and is intended only for the person or entity to whom it was originally addressed. If you are not the intended recipient, you <br />are hereby notified that any disclosure, copying, distribution or other use of this information is strictly prohibited. Any <br />unauthorized interception of this transmission is illegal. If you have received this transmission in error, please notify the <br />sender by reply e-mail, and then destroy all copies of this transmission <br />