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MENU TO: MAYOR AND CITY CO [v <br />FROM: CLERK-ADMINISTRA R <br />DATE: OCTOBER 13, L70g <br />SUBJECT: METROPOrITAN COUNCIL BRA DEFERRED LOAN PROGRAM <br />The Metropolitan Council has requested that the Citv of <br />Mounds View renew their request that the City be included in <br />the Metropolitan Council's application for participation in <br />the State of Minnesota's Deferred Loan Program. The <br />Metropolitan Council would administer this program for the <br />City and the City would incur no administrative expenses for <br />our participation. <br />Kathy Kline, Program Supervisor, has advised me that several <br />residents of the City of Mounds View are on the waiting list <br />for new loans from the renewal of this program by the <br />State. Therefore, the City would experience a direct <br />benefit from participation in this program. A copy of the <br />Metropolitan Council's program summary for this Deferred <br />Loan program is attached to this memorandum for your <br />information as well as Resolution No. 2543 Requesting that <br />the Metropolitan Council BRA Apply for and Implement a <br />Deferred Loan Program Within the City of Mounds View. Your <br />direction in this matter would be appreciated. <br />DFP/MJS <br />L.% <br />