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City of Mounds View Staff Report <br /> February 6, 1997 <br /> Page 2 <br /> assistance for applicants. The two main eligibility requirements are the purchase price of the <br /> 1110 <br /> home cannot exceed $95,000 and the family income cannot exceed 43,650. <br /> The response to this program was enormous. We continue to receive calls throughout the year <br /> regarding this program. The funding is available on a first come, first serve basis so many that <br /> were interested were not able to take advantage of this opportunity last year. It is our hopes that <br /> the funding amount will increase allowing more low to moderate income families to purchase <br /> houses in the City of Mounds View. <br /> A copy of the application form is attached for the City Council's information. Once the <br /> application if completed, it will be filed by staff with the Minnesota Housing Finance Agency. <br /> Recommendation: <br /> Approve Resolution No. 5088 and authorize staff to submit the application for the 1997 <br /> Minnesota Cities Participation Program. <br /> - 1 A( <br /> J- ' er B;r_. an, H.%sing Inspector <br /> II/ <br />