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04-07-1997 WS
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04-07-1997 WS
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6/28/2018 2:18:22 PM
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MV City Council
City Council Document Type
City Council Packets
Date
4/7/1997
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• <br /> View. <br /> Section 8 Voucher and Certificates: The Metropolitan BRA administers the Section 8 program <br /> in the City of Mounds View. Approximately 40 families are using Section 8 vouchers or <br /> certificates within Mounds View. <br /> Minnesota Cities Participation Program: The Minnesota Housing Finance Agency offers low- <br /> interest mortgage programs to cities state wide to assist low to moderate income families in <br /> securing a mortgage for their first home. The City of Mounds View has participated in this <br /> program for the past two years. The first year we assisted four families in purchasing homes with <br /> values under$95,000 in the Mounds View. This year we have assisted one family and have until <br /> October 18, 1996, to use the rest of our funds. <br /> Housing Developments <br /> Listed below are programs that expand or preserve the community's stock of affordable housing <br /> through new construction or rehabilitation. The specific programs listed below are those that <br /> Mounds View is or has taken advantage of for our residents. <br /> Low Income Housing Tax Credits: The City of Mounds View in cooperation with <br /> CommonBond Communities applied for and received low income housing tax credits to assist in <br /> the construction of an 83 unit senior housing complex. Eight of the 83 units are offered at fair <br /> 11111 <br /> market value the others are offered at a set reduced rent. The project was completed in August, <br /> 1995, and has no vacancies. In fact, there is a waiting Iist. <br /> Section 202: We also have a Section 202 elderly/handicapped building with 40 units. This <br /> building was built in 1983 and continues to be fully occupied and currently has a three year <br /> waiting list. <br /> Housing Maintenance, Rehabilitation. and Redevelopment <br /> Because Mounds View is a fully developed suburb with aging housing stock and lower income <br /> levels, our biggest concern is maintenance, rehabilitation and redevelopment. This is the area in <br /> which we are providing or promoting the most. Listed below are the programs offered toMounds <br /> View residents. <br /> Ramsey County Rental Rehab Program: Ramsey County offers a rental rehabilitation program <br /> using Community Development Block Grant funding. The program is administered by the St. <br /> Paul Planning and Economic Development Department. They receive funding once a year from <br /> Ramsey County. Each year, the City of Mounds View sends a letter to all property owners in the <br /> City. Last year three duplexes received approximately $150,000 to do substantial rehabilitation to <br /> their buildings. <br /> 411 <br /> 11 <br />
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