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-G2zGr(14 SIM ••• 410 IAU■ ... SIN ••• _ **DRAFT** LOCAL HOUSING INCENTIVES ACCOUNT GUIDELINES AND CRITERIA Program Summary: The Metropolitan Livable Communities Act(Minn. Statutes Chapter 473.25)created the Local Housing Incentives Account(LHIA) which authorizes the Metropolitan Council to make grants to eligible municipalities to meet negotiated affordable and life-cycle housing goals that are consistent with and promote the policies of the Metropolitan Council. Purpose: The LHIA provides incentives for municipalities to create and/or maintain affordable and life-cycle housing opportunities. Source and Amount of Available Funds: For 1996, $1,000,000 from the proceeds of solid waste bonds issued by the Council; for 1997 and each subsequent year,$500,000 from the Livable Communities Demon- stration Account; for 1998 and each subsequent year,$1,000,000 from the Council's general levy. Beginning in 1998, the LHIA may receive funds from cities that have not met their negotiated housing goals and/or hay not spent 85 percent of their Affordable and Life-cycle Housing Opportunities Amount(ALHOA). The Council is working cooperatively to link the LHIA funds to those of other housing funders,e.g.,the Minne- sota Housing Finance Agency,the Family Housing Fund and others;the potential pool for 1996 is$5.1 million. Grant Terms and Amounts: To be determined. Eligible Applicants: Any municipality in the seven-county region that(1) elects to participate in the LHIA program,i.e.,negotiates affordable and life-cycle goals with the Council; (2)has its negotiated housing goals adopted by the Council; (3) identifies to the Council the actions it plans to take to meet the established hous- ing goals. Location of Eligible Projects: LHIA funds may be used for affordable and life-cycle housing projects in eligible,participating communities. Eligible Uses of Grant Funds: For certain costs associated with projects that help municipalities meet their housing goals,including,but not limited to acquisition,rehabilitation and construction of permanent afford- able and life-cycle housing. Projects proposing homeownership opportunities for families with low and moderate incomes are strongly encouraged. The LHIA funds must be matched on a dollar-for-dollar basis by the municipality receiving the funds. Project Selection Criteria: The funds in the account must be distributed annually by the Council to munici- palities that have not met their affordable and life-cycle housing goals and are actively funding projects de-