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<br /> <br /> <br />Emergency Deferred <br />12/12/2011 <br />Page 2 of 3 <br /> <br /> <br /> <br />Application & Loan Disbursement Process <br /> <br />The Housing Resource Center’s (HRC) North & East Metro office is the program <br />administrator. Please call the HRC’s construction and loan consultants at 651-486- <br />7401 to answer any questions about Mounds View’s loan program and/or your project. <br /> <br />GMHC Housing Resource Center − North & East Metro <br />1170 Lepak Court <br />Shoreview, MN 55126 <br />Phone: 651-486-7401 <br />Fax: 651-486-7424 <br /> <br />DO NOT SIGN ANY CONTRACTS OR START YOUR PROJECT UNTIL A CLOSING <br />HAS TAKEN PLACE. ANY PROJECT BEGUN BEFORE A LOAN CLOSING HAS <br />TAKEN PLACE WILL BE INELIGIBLE FOR PARTICIPATION IN THE PROGRAM. <br /> <br />Application Process: Completed applications will be processed by the HRC ’s North & <br />East Metro office on a first-come, first-served basis, as funds are available until all <br />program funds are committed. After loan approval you will be notified to come to the <br />HRC for a loan closing to sign a Note and Mortgage. <br /> <br />Rehabilitation Consulting: HRC consultants will be available to advise borrowers <br />about proposed projects and conduct an optional initial home inspection. HRC will <br />review bid(s) for reasonableness. <br /> <br />Debt to Income 50% <br />Eligible Properties Mounds View owner-occupied single-family, duplex or <br />manufactured home properties <br />Eligible Improvements  Failure of the heating, electrical, ventilation, or plumbing/septic <br />system; <br /> Roof leaks that have led to significant damage to the interior <br /> A structural failure of the foundation, walls, or roof that could <br />cause collapse; <br /> Removing lead paint or the cause of a confirmed concentration <br />of lead in the resident’s whole blood (Environmental <br />Intervention Blood Lead Level) <br /> Other emergency conditions that could cause the home to be or <br />become uninhabitable will be considered by on a case -by-case <br />basis <br />Contractor Bid Applicants must provide the Housing Resource Center’s <br />Construction Manager with one bid for each improvement project <br />in an emergency situation if the construction manager deems the <br />bid reasonable. All contractors must be licensed and insured.