Agenda Packets - 1997/08/25 - Laserfiche WebLink

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4 I N T E R MEMO OF F ICE To: Chuck Whiting, City Administrator From: Jennifer Bergman, Housing Inspecto Subject: Housing Inspector Job Summary Date: September 5, 1997 Listed below is a summary of the majority of job responsibilities as the Housing Inspector for the city of Mounds View. Instead of a detailed listed, I provided a brief overview of each category. If you have additional questions, please let me know. Housing Replacement Program In 1996, the Mounds View Economic Development Authority (EDA) created a Housing . Replacement Program to assist in the removal of substandard houses. The program was designed to reduce the blighting effects of dilapidated homes and replace them with new, higher valued houses. Since its creation, the EDA has purchased and demolished two substandard homes. The EDA is currently in the process of selling one of the lots to a developer for the replacement home which is proposed to be a three-bedroom,two-story home with an approximate value of$140,000. First Time Home Buyers Program Each year the City of Mounds View submits an application for the Minnesota Cities Participation Program (MCPP) through the Minnesota Housing Finance Agency (MHFA). The program provides funds for mortgages for first time home buyers. The program is administered by MHFA and City approved mortgage lenders. The program provides qualified first time home buyers with a 6.75% fixed-rate, 30 year mortgage. In order to qualify,the buyers must have maintained a good credit rating, purchase the home for under$95,000 and have an income less than$43,650. According to the St. Paul Realtors Association, 98 homes were purchased for under$95,000 in 1996. The funds for the 1997 First Time Home Buyer Program will be available until October 18, • 1997, or until all funds have been exhausted. The 1998 MCPP application will be due in February.