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STAFF REPORT <br /> PAGE TWO <br /> DECEMBER 4, 1995 <br /> 1. Housing Replacement with Special Legislation: Special legislation such as that <br /> received by Crystal and Fridley, to reduce the value of the property to zero (0) <br /> after acquisition of the property. When the new building is created, we receive <br /> the increment based on zero instead of assessed value at time of purchase and <br /> demolishion. Jim O'Meara, Mounds View's Bond Attorney, recommended we <br /> that-we contact-a—legislator-Wet as Novak) to carry thbill and work with a <br /> lobbyist, such as James Casserly, who was the author of the bill for Fridley and <br /> Crystal in the last legislative session. <br /> 2. Housing Replacement without Special Legislation: Target specific areas for <br /> redevelopment. For example, target the fourplexes on Hillview or Quincy. <br /> Purchase the properties one at a time. Bid for a contractor and let them <br /> redevelop the land. We could put these areas into a TIF district but would <br /> only receive the increment based on the assessed value. The City would likely <br /> lose most of the money interest. <br /> 3. Multi-family Rehabilitation -Occupied: Interest rate reduction program for <br /> multi housing complexes similar to the business loan program. With this type <br /> of program, we could team up with MHFA and/or CDBG programs. <br /> 4. Acquisition/Rehabilitation (Single and multi-family): The City of Mounds <br /> View could purchase properties that are in need of rehabilitation, sell them to a <br /> nonprofit agency with the requirements that they fix up the property. With a <br /> multi-family building we could assist them in their rehabilitation, with a single <br /> family house we would need to go through a non profit agency such as <br /> Affordable Suburban Housing, Inc. They have sent us a description of their <br /> new program, Affordable Single Family New Construction Homeownership <br /> Program. (See attached) <br /> The primary advise given was to discuss policy issues between council and staff to decide <br /> what options would best suit Mounds View's goals. These policy questions should be <br /> answered before establishing a housing plan with TIF. Some policy questions are listed <br /> below: <br /> 1. What is the focus of the program? Single family or multi family? <br />