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1 <br />2 <br />3 <br />4 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />4 <br />City Council Regular Meeting Minutes <br />February 14, 2012 <br />Page 2 <br />IV. PUBLIC HEARING. <br />None. <br />V. REPORTS FROM COMMISSION AND STAFF. <br />None. <br />VI. GENERAL BUSINESS OF COUNCIL. <br />A. Resolution 12-022, Approving the Contract with Greater Metropolitan Housing <br />Corporation. Suzanne Snyder, GMHC, presenting. <br />Mayor Faust introduced Suzanne Snyder, Program Director from GMHC. <br />Ms. Snyder stated GMHC has partnered with the City since 2002 to provide Housing Resource <br />Center services and GMHC provides individual assistance to residents related to home <br />improvement financing, construction consultations, as well as providing information and <br />referrals. She stated three programs are administered in the City related to home improvement <br />financing, including the St. Anthony Rehab Incentive Program, the St. Anthony Revolving Loan <br />Program, and the Minnesota Housing Loan Programs. She discussed the St. Anthony rehab <br />incentive program and indicated that since 2005, 80 rebates totaling $65,609 have been provided <br />to residents averaging $820 per rebate and the total cost of rehab projects was $718,584. She <br />indicated the rehab incentive program has been popular with residents and provides a great <br />incentive to make improvements. She advised that this fund has $47.50 remaining and GMHC is <br />requesting that funds be added to the rehab incentive program pool. She then explained the St. <br />Anthony revolving loan program and stated that as of December 31, 2011, the City has program <br />income of $54,755 representing principal and interest collected on the revolving loan program. <br />She indicated that the rehab incentive program and revolving loan program have both been self- <br />sustaining and the City has not had to budget additional dollars. She also discussed the services <br />provided by GMHC related to construction and noted these services are provided to all residents, <br />even those who do not need financing assistance. She encouraged residents to contact GMHC <br />for further information regarding the services and programs at 612-588-3033. <br />Councilmember Stille requested clarification regarding total rebates provided as well as the <br />income from the revolving loan program. <br />Ms. Snyder explained that the rebate activity summary reported totals since 2005. She indicated <br />that the rehab incentive program initially received a grant from the Minnesota Housing <br />Financing Agency for $45,000 in 2003 and 56 rebates were made with that money. She stated <br />after the MHFA funds ran out, the City funded this program with rebates totaling approximately <br />$110,000. She stated that 14 loans have been closed since inception of the Revolving Loan <br />program with the first loan made in 2003 and as of January 1, 2012, the principal outstanding <br />balance owed is $27,973. She explained that the City has historically transferred money out of <br />program income in order to fund the rehab incentive program. <br />