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EDA Item 7A <br />August 25, 2008 <br /> Page 4 of 4 <br /> <br /> <br />Summary <br /> <br />Unfortunately, the foreclosure crisis is not a problem cities created, however <br />cities must deal with many of the affects of the crisis and are expected to assist <br />in fixing the problems that occur due to foreclosures. Additional outreach to <br />single-family homeowners is a proactive way to help prevent foreclosures and to <br />assist with the maintenance of a healthy housing stock in Mounds View. <br /> <br />Recommendation <br /> <br />Staff requests that $1,500 of the 2008 Housing Replacement Program budget <br />(230-4650-5210) be redirected to fund 230-4650-3430 to print and mail the <br />attached foreclosure prevention postcard to Mounds View single-family property <br />owners. <br /> <br />Respectfully submitted, <br /> <br /> ____________________________ <br />Heidi Steinmetz <br />Economic Development Specialist <br /> <br />Attachments <br /> <br />• Direct mail examples: Blaine, Minneapolis and St. Louis Park <br />• Article “Measuring Direct Mail Results: Cost Per Qualified Lead” by Alan <br />Sharpe <br />• Mounds View postcard example <br /> <br />