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Proposed allocation of funds o:ry tl,P rwii e <br />per i od t rr loan origination <br />UN Nod%_ 9 <br />Installment loans 41 A. V00 <br />Approximately 46 loans with average loan <br />amount of 43o00 <br />Deferrrd Loans $92,000 <br />Approximately 3v loans with average loan <br />amount of 43M!0 <br />Administrative E;:pensp_s *N(424Q <br />1 LIT fit. $25(), 000 <br />MHFA Funds <br />Installment. Loans 1300,<oo <br />Appro::ima trsly 60 luans with avereye loan <br />amount of $5(100 <br />TOTAL 4300,000 <br />The principAl from CDBG installmrnt note repayment and any <br />principal repayments from Milli deferred loans would be returned <br />to Ramsey County for reallocation. Interest repayment would be <br />returned to the ERL to offset loan servicing fees. <br />A. Tier One <br />Low interest installment loans for enargy <br />conservation improvements <br />Funding) 4138.000 CD86 Funds (608 of available funds excluding <br />administrative expenses) <br />4300,000 MHFA Home Improvemr'nt Lunn Program <br />Descriptions <br />This tier taryets hourPholde with Adjusted oruss inromes up to <br />474,000 annually. CDPG funds will be originetPd on a first come, <br />first serve baBis at >% Annual pert Pntage ratty. Once CDPI funds <br />have been depleted. MHFA funds will be drawn to continue to <br />provide comparable srrvicPs to the lon income market. CDPG funds <br />will be utilized first because they provide a more attractive <br />fi nant my Inc Pnti ve to the borrower. <br />10 <br />2 <br />