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17 <br /> Minnesota Fix Up Fund <br /> The HousingResource CenterTM is a lender for the Minnesota Housing Finance Agency <br /> and administers the Minnesota Fix Up Fund. Credit worthy homeowners with incomes <br /> at or below $77,000 can receive this 6.5 percent revolving loan. The maximum loan <br /> amount is$25,000 with a maximum term of 20 years. The loan can be used for almost <br /> any home improvements except luxury items. <br /> Proposed Programs <br /> Rehab Incentive Program <br /> The Greater Metropolitan Housing Corporation has applied for a Rehab Incentive <br /> Program for the residents of St.Anthony Village. If funded, the HousingResource <br /> Center assists homeowners in maintaining and improving their current housing by <br /> providing a rebate to homeowners. The program fosters revitalization and stabilization, <br /> contributing to the overall preservation of our neighborhoods. Depending on household <br /> income,the Rehab Incentive Program provides a 10,12,or 15 percent rebate on the <br /> total project cost. A maximum rebate of up'to$3,000 is available for eligible home <br /> improvements. Homeowners must apply and be approved for the program before <br /> any work has been started. <br /> IF FUNDED THIS PROGRAM WOULD BE AVAILABLE AT THE END OF 2002 <br /> St.Anthony Revolving Loan Program <br /> The city staff is proposing to use$100,000 to develop a revolving loan. If funded, the <br /> program will be available to owner occupied homes.The St.Anthony Revolving Loan <br /> Program would provide a loan of up to$10,000 at 4%interest payable over a maximum <br /> of 10 years. Work for this loan shall include repairs, replacements, or new construction <br /> that will improve the exterior and or interior of the property, correct local or state code <br /> deficiencies, health and safety items, improve handicap-accessibility, reduce long term <br /> maintenance and energy cost. Luxury projects or payment of existing debts are not <br /> allowed. <br /> IF FUNDED THIS PROGRAM COULD BE AVAILABLE AT THE END OF 2002 <br /> Ramsey County Deferred Loan Program <br /> The HousingResource CenterTm will be administering the CDBG Ramsey County <br /> Owner Occupied Rehabilitation Program for Ramsey County that provides deferred <br /> loans for low-income homeowners at or below 50 percent of area median income for <br /> eligible home improvements. The home improvements include basic health and safety <br /> issues, more energy efficient or accessibility improvements. The loan is deferred loan <br /> with a maximum amount of$15,000. <br /> THIS PROGRAM WILL BE AVAILABLE BY OCTOBER,2002 <br /> 0 Page 2 <br />