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Agenda Section: <br /> ©MSREQUEST FOR COUNCIL CONSIDERATION Report Number: 91-37C <br /> Report Date: 6-24-91 <br /> STAFF REPORT Council Action: <br /> ❑ Special Order of Business <br /> CITY COUNCIL MEETING DATE June 2 4, 1991 ❑ Public Hearings <br /> ❑ Consent Agenda <br /> Ki Council Business <br /> Item Description: Resolution No. 4096 Requesting the Metropolitan Council HRA to <br /> Apply for and Implement a Deffered Loan Program within the City of Mounds View <br /> Administrator's Review/Recommendation: ,,{{�� <br /> - No comments to supplement this report )CJ0 <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> SUMMARY; <br /> The Minnesota Housing Finance Agency (MHFA) has invited Metro HRA to apply <br /> for funds appropriated by the State Legislature for Phase VI of the <br /> Deferred Loan Program. This program provides deferred payment loans to <br /> low-income homeowners to make improvements affecting safety, energy, <br /> accessibility and habitability of their homes. Metro HRA administers the <br /> program in Ramsey County. <br /> This program has been available to residents of Mounds View since 1982 . <br /> In order for the Metro Council to complete their application for the Phase <br /> VI funding, they need a resolution from the Council which authorizes <br /> Mounds View's participation in the program. <br /> The benefits of this program are substantial in that funds can be obtained <br /> at low interest for low income individuals to make needed repairs on their <br /> homes. <br /> Failure to approve the attached resolution removes Mounds View residents <br /> from consideration for the loan program. <br /> ,\zd <br /> Samantha Orduno, City 'Administrator <br /> RECOMMENDATION: <br /> Waive the reading and adopt Resolution No. 4096 Requesting the <br /> Metropolitan Council HRA to Apply for and Implement a Deferred Loan <br /> Program Within the City of Mounds View. <br />