Agenda Packets - 1997/02/10 - Laserfiche WebLink

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S • III. HOUSING PLAN A. Provide a description of your city's principal housing needs. B. List the data sources or.methods used to determine the described needs. C. Explain the specific plan developed to meet your identified housing needs, including the resources to be accessed, and the methods used to carry out the plan. D. Describe any target areas to be addressed in the plan. E. Explain how the plan will be implemented and the administrative capacity of your city to do so. Note: If you have already completed a Housing Plan in accordance with Minnesota Statutes, Section 462C.03 within the past 12 months, you may attach a copy in lieu of the above requirement. Housing Plans over 12 months old may be acceptable provided the information is still valid, and the plan is updated with appropriate attachments and comments. IV. PROGRAM SPECIFICS A. Explain how your first-time home buyer program fits into your comprehensive . housing plan. B. List the borrower income limits. (See the attached program guidelines for limitations.) C. List the home purchase price limits. (See the attached program guidelines for limitations.) D. Identify targeting of specific population groups, if any (e.g., minorities, the disabled, business employees, etc.). E. Identify targeting of area or housing stock, if any (e.g., rehab areas, new construction developments, etc.). F. Describe any optional program enhancements such as subsidy funds, waived fees, use of tax-forfeit properties, etc. that you will offer, if any. G. Describe your proposed schedule for release of funds (whether immediate, delayed, or on a proportional/divided basis). H. List the amount of funds requested, and the estimated number of loans to be provided. If preferred, state "maximum allowable" (by population formula). I. If desired, specify the minimum allocation needed for your 1997 program. If the per capita allocation formula does not provide this level, MHFA will contact you regarding the cancellation of your application. J. Provide information concerning any unused mortgage revenue bond or mortgage credit certificate resources still available in your community (non-MHFA).