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CC Memo-Home Improvement Loan Program <br /> September 3, 1998 <br /> Page 3 <br /> increased value to the city's housing stock. <br /> The EDA may also consider phasing in the allocation of TIF funds over a period of two years. This would <br /> allow for the purchase of the approved HRP property and allocate the remaining funds for the proposed <br /> Home Improvement Loan Program for 1998. The remaining funds needed for the program may then be <br /> allocated in 1999. However,this may deplete the allocated TIF funds for 1999 and eliminate the <br /> opportunity to purchase additional HRP properties. <br /> ACTION TO BE CONSIDERED <br /> Provide staff direction for implementation of the proposed Home Improvement Loan Interest Subsidy <br /> Program and set the proposed program on a future agenda for action. <br /> Steve Dorgan <br /> Housing Inspector <br /> 717-4023 <br /> Attachments: Exhibit A: Home Improvement Loan Interest Subsidy Program Guidelines <br /> Exhibit B: TIF Funds Allocation Schedule for Housing Rehabilitation <br /> NADATA\GROUPS\COMDEV\HOUSING\[OMELOAN\EDA_REP\EDA9_8.98 <br />