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Pr optic pd allor.atlon of funds r.,ver the two year loan uriginatirnr, <br />per i „d r <br />CDBO Funds <br />Installment Loann 01'.8,,-.',, <br />Appror, Imetely 46 1uens with over .,ge loan <br />omount of *3o')O <br />Drferr ed Inatrs 092.000 <br />Arvr v>l i matel v 30 l oans wi t it aver Age l oan <br />amount of 534)(N! <br />Administrative E,:panses $20.000 <br />TOTAL $M.000 <br />MID) F}mall <br />Installment loans 0"Of 000 <br />Approximatoly 60 loans with average loan <br />Amount of 1R(uut <br />TOTAL $300,OW <br />• <br />The principal from COBB installatent note repavment and any - <br />principal repavments from COBB deferred loans would he returned <br />to Ramsey County for reallocation. Interest rppayment would be <br />returned to the ERC to offset loan eervicing fees. <br />A. Tier One <br />!_ow interest inrtaileent loans far energy <br />conservation imW overents <br />Funding: 1138,000 COSO Fiord, (60% of available funds excludinq <br />Administrative expenses) <br />•300,000 l*fFA Hume Improvement loan Program <br />Descriptions <br />Thin tier targets hrn.tsrholds with adjusted dross inr.omet up to <br />a1 ,WO annuAlly. MOO funds will be orioinated on a first come, <br />flrrt tier+•e hasis at 38 annual percentage rate. Once CD86 funds <br />have born depleted, MHFA funds will be drawn to continue to <br />provide comparable servtr.os to the low income martel. CD96 funds <br />will be utili,rd first because they provide a more attractive <br />flnanciny incentive to the borrc,wer. <br />h <br />