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0�� ?Z <br /> 04 �O Metropolitan Council <br /> 300 Metro Square Building <br /> QIII Seventh and Robert Streets <br /> e1 St. Paul, Minnesota 55101 <br /> % Telephone (612) 291-6359 <br /> I'VIN C11'\t.;. <br /> January 4 , 1983 <br /> To : Metro HRA Participating Communities <br /> Re : Rental Rehabilitation Loan Program <br /> The ..etropnlitan Council Housing and Redevelopment Authority <br /> -r.noun the availability of its Rental Rehabilitation Loan <br /> i r.�gr:�cr `or the improvement of residential rental property in <br /> Mat—r:rolizar.. Area communities . <br /> Tl^.� Rental Rehabilitation Program provides below-market interest <br /> :-:ate rPi:abil_itation loans to owners of rental property occupied <br /> primarily by low- and moderate-income households . Metro HRA is <br /> .-;:`.riinistering this program in conjunction with the Section 8 <br /> 1,iolerate Rehabilitation Program. Both programs are designed to : <br /> Rehabilitate private rental units which are substac,dard <br /> or have ma_jo�!- t�:.�ilding components in need of repair or <br /> • replacement ; <br /> Provide property with energy improvements for corlpliance <br /> with state energy conservation standards for rental <br /> housing . <br /> Becaus- rental property qualifications vary between the two <br /> programs , the Rental Rehabilitation Program will offer alterna tive <br /> rehabilitation opportunities to owners whose property is not <br /> feasible for the Section 8 program. <br /> Metro HRA invites your city to participate in the Rental PolI abi.l- <br /> T <br /> it,�tiut: Laan FrugrdnY. By authorizing Lb e. i*_npiemetiLar.ivr, c:r t:i 1 s <br /> program, your community can: <br /> - Improve local rental housing stock and increase the <br /> number, of standard housing units available to low- and <br /> moderate-income families ; <br /> - Achieve rehabilitation and low- and r.c,aerate-income <br /> subsidized housing goals in yu.u.- Housing Allocation Plan; <br /> Increase your Policy 39 housing performance score ; and <br /> Levera-e CDBG funds in local rehabilitation projects . <br /> A brief summary of the program and a sample resolution are enclosed <br /> An Equal Opportunity Employer <br />