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DS-4. Housing (B) <br />Federal tax reform legislation as well as substantial cuts in HUD housing <br />programs have dealt a severe blow to many cities' housing efforts. State <br />legislation preserving existing tools such as tax exempt finance, interest rate <br />write down, and taxable options in tax increment and revenue bonding are more <br />icportant than ever. In addition, new legislation providing cities with new <br />resources must be considered. Cities recognize that incentives for the <br />construction and rehabilitation of housing form a vital part of city <br />redevelopment efforts and serve the housing reeds of its citizens, especielly <br />those of low and moderate incomes. <br />The League also supports new legislation which includes specialized <br />opportunities for small communities to participate in state housing and <br />development programs. <br />The League, in geueinl, suy'yJrte auandmcnta to Cho^•^' A62C necessary to <br />further assist cities in using housing revenue bond programs both as a <br />redevelopment tool and as a way to provide housing for low- and moderate -income <br />households. <br />As for the Minnesota Housing Finance Agency (MIFA), program funds should be <br />targeted to cities in a manner consistent with local plans and programs. The <br />MIFA should continue to improve its procedure whereby representatives of a <br />diverse group of cities, chosen in consultation with the League, can participate <br />in targeting funds to cities. <br />-6- <br />