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Attachment 2 <br />Alternate Application Procedures <br />Cities may also apply to the Agency for MCPP participation or an allocation for self <br />issuance of bonds by submitting the following documentation: <br />1. The city must submit a housing plan as described in Minnesota Statutes § <br />462C.03, subdivisions 1 and 1 a, and <br />2. The city must provide information which clearly establishes that the program to be <br />funded with mortgage revenue bonds meets the requirements of the program <br />pertaining to borrower income limits, house price limits, limits on new construction <br />both -in -the Twin Cities MSA-and outside the Twin Cities MSA and -restrictions -on <br />builder set -asides (see Minnesota Rules Part 4900.3220, subpart 2 through 7), and <br />3. The city must request a specific allocation from the housing pool to be determined <br />by the city's per capita percentage share of the pool based on current population <br />statistics after the first Monday in April. The minimum allocation that may be <br />requested is $100,000, and <br />4. The city must describe, if applicable, the steps it will initiate in non -metropolitan <br />areas to encourage loans for existing housing before new housing, and <br />5. If the city issues and sells bonds independently, it must maintain accurate records <br />of funds usage (loans originated) and provide these records to MHFA upon <br />request, to confirm compliance with statutory usage requirements. • <br />If this alternate application method is used, please attach a letter of clarification <br />indicating if application is being made for the MCPP (where MHFA sell bonds on the <br />city's behalf), under a joint powers arrangement, or to gain an allocation to issue <br />bonds independently. <br />