Agenda Packets - 1999/07/06 - Laserfiche WebLink

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City Council Report — Housing Program and Policy Discussion July 1, 1999 Page 3 Remodeling Planbook Mounds View participated with a consortium of 15 other first tier suburban communities in the development of a Remodeling Planbook. Each city contributed $5,000 towards the development of the Planbook. In return, each community received 500 copies of the book, which are sold to residents for $10 and to non-residents for $15. The Planbook was completed in February, and to date, the City has sold 45 Planbooks. The Planbooks are available at city hall as well as the Ramsey County Library for review. POTENTIAL PROGRAMS Low Interest Home Improvement Loan Program Staff is continuing to pursue options for low interest loan program(s). The council may wish to direct staff to pursue funding options for a proposed program other than grants. TIF funds are not eligible for an interest rate buy down, but may be used for grants or principle for a loan program. However, both concepts would require a substantial amount of funds. 4) Should staff survey other communities for alternative funding options for a low interest loan program? First-time Homebuyer Program Mounds View participated in the Minnesota City Participation Program offered through the MHFA. The program offers low-interest loans with limited down payment to first time homebuyers with low -moderate incomes. Mortgages are administered through local lenders. The city was allocated $250,000 in loan principles annually for the program in 1996 and 1997. The program must use at least 50% of the funds in a year to be eligible for the following year. At least 50% of the funds were not used in 1997..Therefore, the city is ineligible to apply for the program for 2 years. Mounds View will be eligible in the year 2000. Remodeling Counselor A remodeling advisor/counselor may be made accessible to Mounds View homeowners through several existing agencies. The remodeling advisor would meet with the homeowners to prioritize improvements and assist in obtaining contractors and bids. A remodeling advisor will provide a single consultation for a flat fee (typically $1004150). No specific funds have been identified for this service. The city may choose to exclusively fund, subsidize or pursue other funding sources for the consultations. Housing Resource Center Staff has been working with Ramsey County as well as the I -35W Coalition for possible options to create a housing resource center in the region. The resource center would facilitate one stop shopping for loans, grants, remodeling advice and would serve several cities. ACTION TO BE CONSIDERED The purpose of this report is for staff to obtain direction for several specific housing programs and general housing policy. Staff also welcomes additional comments, questions or direction related to existing or proposed housing programs. Specific direction is needed for the following: 1) What conceptual redevelopment designs should staff be promoting to developers for the city owned property at 8283 Long Lake Road? (see attached redevelopment scenarios). .