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Potential Criteria: It would seem to make sense that there be some funding guidelines associated with the demolition component of the program, aside from property eligibility. The following are a few potential criteria the EDA could consider for inclusion in the program: • Financial status of applicant (funding could be based on “need”) • Residency requirement (applicant must be a resident for certain number of years) • Ownership requirement (applicant shall have owned and lived in the property) • Neighborhood analysis (city may want to target a specific neighborhood) Financial Status: It is somewhat difficult to determine financial need and it may even be problematic to require that the applicant demonstrate financial hardship in this regard. The City would NOT want to provide such assistance to an individual who might be financially unable to complete the rebuild of the home, thus it may be the case that the applicant demonstrate that funding has been secured for the new home construction to be eligible for the demolition assistance. On the other hand, if an applicant is wealthy and is applying for the assistance because he or she can, the City may want criteria that guards against providing assistance to those without a need. Residency Requirement: Staff recommends that the applicant be a Mounds View resident. Funding should be prioritized to benefit residents who have lived in the community for a certain number of years. Ownership Requirement: The program requirements could be revised to ONLY apply to applicants who have lived in the subject property for a minimum number of years. Adopting such a provision would eliminate from funding eligibility a Mounds View resident who has purchased a foreclosed or abandoned home for demolition and redevelopment. While such a requirement makes sense, it might be advisable to build some discretion into the requirement as it might be in the City’s best interest to encourage a demolition rather than see a piece-meal rehab of a blighted property. Neighborhood Analysis: The program guidelines already state the following--Properties should be equally distributed by location and value throughout the City when possible, and provide a viable financial mix of properties to support Program financial requirements. Certainly other criteria could be added beyond these mentioned above. Recommendation: Review the attached program guidelines. If the EDA feels amendments are in order, a revision would be prepared and brought back for formal review and consideration at the next EDA meeting on April 23, 2007. _____________________ Jim Ericson Community Development Director