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23 <br />A second program administered by GMHC is the Rehab Incentive/Rebate Program that <br />was started in 2002 with $45,000.00 from Minnesota Housing Finance Agency. This <br />program rebates a maximum of $3,000.00 to St. Anthony homeowners who qualify. <br />These funds are grants, are not paid back and not part of the Revolving Loan Program. <br />The initial funding was awarded because of an application GHMC submitted on behalf of <br />several suburban communities. As a result of the program's success, most of the funds <br />were expended by mid -2005. At that time, GMHC requested that $10,000.00 be <br />transferred from the Revolving Loan Program into the Rehab hncentive/Rebate Program <br />As of this date, both programs have been very successful. Presently, GMHC has enough <br />funds on hand to balance both programs. However, to move forward they are requesting <br />and additional $60,000.00 from the City to continue its support of the programs. GMHC <br />has indicated that $30,000 would go into the Revolving Loan Program and $30,000 for <br />the Rehab Incentive/Rebate Program. <br />In addition, GMHC is proposing extension of the Consultant Services Contract at <br />$12,500.00 per year. Going forward, this fee would cover consultant services and <br />administration of the Revolving Loan Fund, the Rehab Incentive/Rebate programs. <br />hn reviewing funding options, the appropriation could be made from the HRA Projects <br />Fund (the initial $100,000 was funded by this same fund). <br />