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6.2. HRSR 01-05-2004 ITEM # 6.2. S i City of Elk -.„-1 River MEMORANDUM TO: Housing & Redevelopment Authority l' FROM: Heidi Steinmetz, Assistant Director of Economic Development DATE: January 5, 2004 SUBJECT: Update on Housing Programs Attachments • Program Flyer • Income&Home Cost Limits • 2003 List of Participants &Allocations S • Matrix (details on program enhancements in each participant community) • Central MN Housing Partnership Newsletter,Winter 2004 • Home Rental Rehabilitation Program Letter , Selection Criteria& Flyer MN City Participation Program Background From 1991 to 1996, the Elk River HRA participated in the Minnesota Housing Finance Agency's (MHFA) Minnesota City Participation Program (MCPP),which provides loan dollars to qualified first time home buyers (see attached flyer). Through the MCPP,MHFA sells mortgage revenue bonds on behalf of communities to meet locally identified housing needs. The proceeds are then used to provide below-market interest rate home mortgages for low- and moderate-income families (see attached Income and Home Cost Limits). The loans are originated and administered through local lenders approved by the MHFA. Other than completing an application and paying a processing fee of$20 for each $100,000 allotment provided (see attached 2003 List of Participants and Allocations) and a 1% refundable deposit, no time or resources are required of the HRA or staff to participate in the program however many participant communities have their own program enhancements (see attached matrix). Issue Staff recently received information on participating in the 2004 MCPP. The HRA has not participated in the program since 1996 however, Sherburne County has applied and been • awarded an allocation for the last several years. The county will apply for a 2004 allocation therefore staff does not recommend a separate city application. Update on Housing Programs Page 2 of 2 • Central MN Housing Partnership Newsletter At the July 2003 HRA meeting, the Central MN Housing Partnership mentioned the Life Cycle Housing Program,which ensures that 15% of new housing units developed in several Central MN cities are affordable. An update on the program is provided in the attached newsletter. It is initiatives like the Life Cycle Housing Program that the HRA might evaluate when determining an acceptable housing balance for Elk River. Home Rental Rehabilitation Program Home Rental Rehabilitation Program funding is available through the Central MN Housing Partnership as a loan with a 0% deferred interest rate for the rehabilitation of existing rental properties located in several Central MN counties, including Sherburne County. The application deadline for this funding is February 13, 2004. As in the past, staff will forward the attached program information to Elk River apartment property owners/managers. • • > C z ...,,, .. „,„.,.. �Q � "y r . 3.E K ,,_ ,„<„, 0 _L . .� � �_ .„{,.. , °4 •4rit :4is4' I i it'�. l+'+. , W r • 8661-101SS NY"I Trcd 1S 00£31111S`433JIS A3ITS 001 2711.u(N:)1.,;(1-.11.I $§1,;1+°(1,1'}1'7<:\' 01.4•,; \ •--I N CI Tul �O yy ONTO cc . d 4-r 0 O � � "d w R N L m u 0-**, c N 0 N 0 I I 1 v1 O hi) 0 ■.0 00 V „, 5 m W Elm c at � E 0 M !gli F3 V 5 a 0 0 O C _ C to O }. .O O � ,rl O O W V c:s (/y c c'v �y -0 o O C O • < R at ,,,, •� W W Bow gt�^ .3- ' S-I i y#1 O V D ,.." O /71 2.H o o k` ■ ., b o0 © O) 0 a-, C o 0) o co C •_o a 4 E L Co ;. E 0- y' 'C 0 N u' .i� °, ^' o \ a y. y,,.0 j, al `n s• N U ti �l�f ' O ,.— a) ¢ C..' O 0 ° 0 CO 9— N +-+ ', ,>A ^♦ '�`'r U 1„/ Lam.. U �.•►„ co P. 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' 0 0 ° w o , up 'C) E g _ cl O Li U g s-i U , a N „ i o � p o . o -d �? a H ° •• 4 J MCPP Limits Page 1 of 2 Home I About MHFA I Contact Us I FAQ Governor MINNESOTA HOUSING FINANCE AGENCY Hose s I . uttifaxnity I Property P N na e e it Renter inv to Home Mortgages iau tovesuont Loans I Down Payment:I Lenders/Agent: ( Foredo re j Administlatina 1 1101 1 MHFA Mortgage Loan Pro rams > Minnesota City Homes Participation Program (MCPP) M Back to Minnesota City Participation Program I am looking for: Choose One Program Income Limits To qualify for The Minnesota City Participation Program your MHFA Eligibility Income must not exceed these income limits: Size of 11-County Twin Cities Metro - Olmsted Balance of Houshold Area* County State 1-4 Persons $60,250 -$56,500 $52,100 5 Person $65,100 $61,000 $56,300 6 Person '69,900 '65,550 '60,450 7 Person $74,750 $70,050 $64,650 8 Person $79,550 $74,600 $68,800 *For the purpose of this section,the 11 county Twin Cities Area is defined as:Anoka, • Carver,Chisago, Dakota, Hennepin, Isanti, Ramsey,Scott,Sherburne,Washington and Wright Counties *Back to Top Home Cost Price Limits The home you purchase must fall within these cost limits: If the property to be mortgaged is Existing Residences New Residences located in: 11-County Twin Cities Area* $204,183 $228,059 Aitkin County * * Becker County $109,671 _ $131,070 Beltrami County $90,156 $131,070 Benton County $154,499 $135,900 Blue Earth County $111,136 $131,070 Brown County $85,787 $131,070 Carlton County * * bass County * * Clay County '121,232 '131,070 Cook County Crow Wing County $132,816 $131,070 Dodge County $116,981 $131,070 Douglas County $130,367 $131,070 Fillmore County $81,391 $131,070 Goodhue County $129,053 $131,070 Houston County $121,819 $131,070 Hubbard County $120,608 $131,070 Itasca County * * http://www.mhfa.state.mn.us/homes/MCPPlimits.htm 12/19/2003 MCPP Limits Page 2 of 2 Kanabec County * * J Kandiyohi County $96,472 $131,070 • Lake County * * Le Sueur County * * Lyon County * * Mahnomen County $115,239 $131,070 McLeod County $114,427 - $131,070 Meeker County Mille Lacs County * *. Morrison County $90,341 $131,070 Mower County $81,572 $131,070 Nicollet County $125,245 $131,070 Olmsted County $162,689 $176,050 Otter Tail County $89,173 $131,070 Pennington County $77,540 $131,070 Pine County * * Polk County $82,569 $131,070 Rice County $141,743 $131,070 Sibley County $80,033 $131,070 St. Louis County $135,357 $131,070 Stearns County $154,499 $135,900 Steele County '112,789 '.131,070 Wabasha County $107,683 $131,070 Waseca County Winona County $104,111 $131,070 Balance of State $77,540 $131,070 *Not currently participating in the MCPP. • *Back to Top http://www.mhfa.state.mn.us/homes/MCPPlimits.htm 12/19/2003 Homes MCPP Greater Participating List Page 1 of 2 Home I About MHFA I Contact Us I FAQ Governor l'iiiN1111.11111 MINNESOTA HOUSING FINANCE AGENCY e P t ifamily ( rcperty At e gent Renter 1 sv cr Home Mimes Itupt4wAtient Loan& Down Payntentt I Lenders/ . exit foietitn,ure I Administrateis I nom F MHFA Mortgage Loan Programs > Minnesota City Homes Quick Find Participation Program (MCPP) Back to Minnesota City Participation Program I am looking for: Choose One 2003 MINNESOTA CITY PARTICIPATION PROGRAM List of Participants and Allocations Albert Lea,City of $314,013 Alexandria,City of $158,118 Anoka County $5,168,643 Barnesville,City of $100,000 Becker County $518,607 Beltrami County $687,771 • Blue Earth County $962,199 Breckenridge,City of $100,000 Chippewa County $222,993 Chisago County $736,812 Clearwater County $143,908 Crow Wing County $962,370 Dilworth,City of $100,000 Dodge County $310,969 Duluth,City of $1,472,683 Fillmore County $250,000 Glyndon,City of $100,000 Grant County $100,000 Hennepin County(Suburban) $4,204,2331 Hitterdal,City of $100,0001 Houston County $300,0001 Hubbard County $315,6371 Kandiyohi County $706,649 'Lake of the Woods County 1 $100,0001 Mahnomen,City of ' $100,0001 'McLeod County 1 $602,6501 Moorhead,City of $553,6091 'Morrison County I $174,5801 110 Mower County $662,002 'North Mankato,City of 1 $206,1161 'NW MN Multi-County HRA* 1 $1,507,0361 I II I http://www.mhfa.state.mn.us/homes/MCPPComm.htm 12/19/2003 Homes MCPP Greater Participating List Page 2 of 2 (Olmsted County II $2,173,7191 • Otter Tail County $984,308 Owatonna,City of $389,524 Ramsey County(Suburban) $3,853,668 Rice County $985,762 Sauk Centre,City of $100,000 SE MN Multi-County HRA** $571,713 Sherburne County $1,165,7841 Springfield,City of $100,000 St.James,City of $100,000 St. Peter,City of $166,873 Stevens County $171,661 Swift County $203,243 Washington County 1 $3,522,932 Wells,City of $100,000 Winona,City of $463,393 Wright County $1,615,822 Total $38,610,000 *Counties include Kittson, Marshall, Norman, Pennington, Polk, Red Lake,and Roseau. **Counties include Goodhue,Wabasha,and Winona. *Back to Top • http://www.mhfa.state.mn.us/homes/MCPPComrn.htm 12/19/2003 0 ft z ° o Qo 6 8 v' N ii F o a0i ' o cmn 2 g 8 8 N ›' � v � � o oz, � A m /\ N 1 N 0 N .' 00 00 8 0 o N I c'I N 4 M — F O N V m a n i O■ C� C� D■ ,'� ,0 p .ca d+ p 00 r-, N Z n n 00 LO H a m 0D cV t L It) y pA 71)._ oill .0 .o l'? d Orn N N N r O "C� o c'7 .o oo o N 00 N 00 0o '(5 V1i 00 w 00 cd F4 00 ' c0 LE- N �D rl ++ N x--, \--1 r-I Si"' r-I p c-' to �--� c-� V -- m N Cn F.11 m N N N V Z Q N �—,N Z '0 N N-a N 0 a) F„i +' ' U) CS 0) 0) ccn 0. 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C --. p. / G !�1 ca y 4) Ct ca cu a:I cu a W •� P" 3 > > 1 m 0 a tt H a g aa) a O co > v - m m .0 A O p -g o g" wa .4 0 Ts o g t O o x 5 g � v U o ° �, a 0 o a,•>, U u, 4, 110 Z IIii O upi . O O a, O F� r t" "RS ,-, tC v ,, 3 v .. Z x xaAUU u U (n ?. 3 U `" q-i u g ° t' 0 0 • a o 0 04 c U a 0, ° 0 5o V O 1 a 3 5 E g a, t " a x a x (r) (n cn cmHp ,,,,, *,c,,, ..f- _,!' ,..a4, -4.T. '- '4- '1 -1:., 41' ,..'::.' i' ,.ii- -,-1'V 0 .s.'-,,,..-.-7'7'7.',,'''',',. ,:=:2- 2.1" .A:: ,,'.'''' 0'4,7 r,- ,,,-,,,g,' ;:, ',:. .;=1 'f.,1 1 A;-..„- . . ' dr ''n Via. .+., A NEWSLETTER FROM THE CENTRAL MINNESOTA HOUSING PARTNERSHIP, INC. 2004 WINTER UPCOMING HOME BUILDING I-IOUSING OPPORTUNITIES STRETCH CLASSES TIROUGI-I LIFE CYCLE I-IOUSING The Central Minnesota Housing Home Stretch classes are designed to Partnership was selected as the help buyers gain knowledge needed to Service Provider to the Life Cycle make an educated decision about home Housing Initiative in 2003. This purchase and understand the responsibilities unique venture is an effort by the of ownership. Since 1995, CMHP has cities of St. Cloud, Sartell, Sauk graduated 4,923 potential homebuyers. Rapids, St. Joseph, and Waite ®® t If you know of anyone thinking about a Park to work with area developers home purchase, encourage them to start by to ensure that 15%of new LC H attending these educational classes. For housing units developed in their i more information, contact Deanna communities are affordable. � Hemmesch, Program Manager. L During the first year of operating Life Cycle Housing Program Brainerd •Jan 5,12,26 • (320)259-0393 the program, CMHP has made • *St:Cloud •Jan 6, 13 20 • (320)529-6500 great strides in reaching goals for Princeton •Jan 8, 15 22 • (612) 389-4789 the program. Funding has been secured for the first year and a portion of the second North Branch•Jan 14,21,28 • (651)674-1025 I Hinckley•Jan 15, 22,29 • (320)384-7325 year to operate the program and to provide gap loans to homebuyers. Generous Elk River•• Feb 2,9,23 •• (320)259-0393 support has been received from the Central Minnesota Community Foundation, Little Falls••Feb 3, 10, 17 •• (320)632-6629 Bremer Foundation, the Minnesota Housing Partnership and the Minnesota Housing Walker Feb• 4 11 18 •• (218)547-4360 Finance Agency for these efforts. Homebuyer education was expanded to offer a *St:Cloud • Feb 4, 11, 18 • (320) 529-6500 fourth night of classes to discuss this initiative, how interested buyers can participate, Sauk Centre • Feb 12, 19,26 • (320)352-3819 and the resale restrictions that are tied to units to ensure long-term affordability. *St.Cloud •March 1, 8, 15 • (320)529-6500 These classes are offered every month in St. Cloud. Cambridge• March 4, 11, 18 •'(763)689-6189 Paynesville•March 9, 16, 23 • (320)243.7570 Outreach has been conducted with area realtors and lenders with additional outreach Brainerd • March 10, 17,24 • (320)259-0393 to occur with appraisers and closing companies. Various educational materials also Chisago City•April 1,8,15 • (651)213-2600 have been created for employers, potential homebuyers, developers, and others to Isle •April 5, 12, 19• (320)676-1050 provide information on this initiative. CMHP is currently working on the first *St:Cloud •April 7, 14,21 • (320) 529-6500 development that will incorporate Life Cycle Housing Units in the City of Sartell Little Falls•April 12, 19, 26 • (320)632-6629 with other projects in the pipeline. If you are interested in learning more about More• April 13,20,27 • (320)679-2425 Life Cycle Housing please contact Lisa Graphenteen or Cheryl Fuchs. *All St.Cloud classes have an optional fourth night that will cover the Life Cycle Housing Initiative. BECKER FURNITURE WORLD FOUNDATION/ Dates are subject to change. JESSICA'S BEDS DONATES BEDS TO FAMILY For the most current dates,visit t o our website. There is a$25/household fee for materials. CMHP recently moved a single mom with three small children into our Transitional 0 f'',:'' , Housing Program. The family had all been sharing a mattress at their previous , residence, but it was not worth moving. An application was submitted by CMHP `' '-� ..a...z, on the family's behalf to the Becker Furniture World Foundation and the family was. awarded a set of bunk beds with mattresses and a full-size mattress, box spring, and metal frame. The family is now able to get a good night sleep in their new home t -, ;ry with their new beds) PARTNERSHIP SEEKING BOARD MEMBERS Central Minnesota Housing Partnership is seeking G--.IARITY GOLF EVENT individuals to serve as board members. Our organization GIVES CMHP A CHECK • services a 16-county area addressing affordable housing needs of communities. CMHP provides technical Wells Fargo Home Mortgage held its second annual charity assistance to communities and non-profits in planning and golf event sponsoring Central Minnesota Housing Partnership implementation of housing development and rehabilitation. (CMHP). Wells selected our organization due to our similar mission and service area. The funds raised from the golf The Board of Directors is comprised of individuals event totaled $3,528 and will be utilized toward CMHP's representing housing and redevelopment authorities, Home Stretch Homebuyer Education program. CMHP community action agencies, financial institutions, would like to extend our thanks to Wells Fargo Home consumers, and legal entities within our service area. Mortgage for again selecting our organization and for all their hard work in making the event a success. If you are interested in being a part of addressing the affordable housing issues in our region, please contact Sheri Harris, Executive Director. 2004 HRR PROGRAM TRANSITIONAL HOUSES AVAILABLE CMHP will be taking applications for the 2004 CMHP currently has three transitional houses available. They are HOME Rental Rehabilitation funds. The HOME have at least one dependent child and either be homeless or in dk Rental Rehabilitation program provides a 0%deferred to your clients please contact Julie Schueller at (320) 259-03C interest rate loan and repayment is based on project need and a five-year compliance period. Pre applications CMHP's Transitional Housing Program consists of six single 64) are available now and are due on February 1 3, 2004. in transition. For more information or to place your name on the mailing list, please contact Deanna Hemmesch Families will work with case managers to attain self sufficiency. CG at (320) 259-0393. of social service areas such as budgeting, parenting, domestic viok training, marital issues, mental health, transportation and other skil By the end of the tenancy (maximum stay is 24 months), the goe HOMES FOR SALE tenants to seek, secure and maintain their own stable, permanent Split and tri-level homes are for sale in the communities of Isle, Sebeka, Long Prairie, St. Augusta, Sartell, Albany, and St. Cloud. Please note down payment and closing cost assistance and low interest rates may be available to income-qualified buyers. For more t-LOUSING FUNDING FOR THE IN CENTI information contact Cheryl Sieverding Fuchs at CMHP, CMHP would like to express a special thanks to all funding partr (320) 259-0393 ext 72. Each partner provides unique support for affordable housing need The Minnesota Housing Finance Agency and Greater Minnesc 1 1 CMHP Gap Financing for Scattered HOT HOUSING LINKS 1 CMHP Gap Financing for St. August I I Lakes & Pines Community Revitalization Fun r www.cfl.state.mn.us/oeo I Tri-CAP Community Revitalization Fun www.cmhp.net ; Cass Lake EDA MN Urban & Rural Homeste I 1 www.dted.state.mn.us 1 Leech Lk Band of Ojibwe MN Urban &Rural Homeste www.enterprisefoundation.org I Mille Lacs Indian Res. MN Urban & Rural Homeste I www.gmhf.com ii Tri-CAP MN Urban& Rural Homeste www.HousingMinnesota.org 1 CMHP HECAT funds for Pre Purcha 1: www.ifound.org -WCCA HECAT funds for Pre Purcha 4111 www.leg.state.mn.us ' OTWCA HECAT fund for Pre Purchas www.mhfa.state.mn.us St. Cloud.HRA Westwood Village Apartmen t www.mnhomelesscoalition.org MetroPlains Properties Jackson Place Apartments, E CMHP Grand Oaks Townhomes, Ba • - - - - - m . - - - - - mmmmm TRK Development Gateway Village Apartments EDEN PLACE APARTMENTS • % Located at 150 Hutcheson Ave., a quiet setting in Eden Valley, just 45 minutes from St. Cloud. 23 Features include: ., ; CEVR4l MR HUS1RG 35 • Controlled Entry • Playground • Dishwasher • On Site Manager • Laundry Facilities • Air Conditioning • Large parking lot w/plug ins L to R:Amiee Okerstrom(Wells Fargo),Deanna We currently have the following openings: Hemmesch(CMHP),Cheryl Fuchs(CMHP), and Jamie Klinnert(Wells Fargo). 2 br $475 (heat included) • 3 br $550 (heat included) h )cated in Little Falls and Mora. To ualif applicants need to •'s �� n' q Y PP er of losing their housing. For application packets to distribute or julie(@cmhp.net. 1, I– i i ,� :attered site, affordable homes designed to assist families – --- Income limits for Eden Place Apartments will provide assistance and resources in a variety 1 Person ~ $24,420 4 People — $34,920 •managers e or abuse, chemical dependency, employment and vocational 2 People — $27,960 5 People — $37,740 to assist families to become self-sufficient. 3 People — $31,440 of CMHP is to have provided support systems that enable To obtain an application, or for a private showing call fusing. (320) 453-3223. OTHER CURRENT OPENINGS INCLUDE: AL REGION (Income limits apply at all of our properties) 's for the projects in the region that were awarded funds. Leighton's Landing (Big lake, MN) The most recent awards include the following: 2&3 br townhomes ($665 & $740 heat included) 320-259-0393 or 1-888-203-9301 (Ketti) Housing Fund e Single Family Housing 200,000 Northcrest Townhomes (Mora, MN) 220,000 320-679-4592 (Resident Manager) for Mora 160,331 2&3 br townhomes ($515 & $615 heat included) for Multiple Counties 425,000 Waverly Community Homes (Waverly, MN) ling (MURL) for Cass County 68,934 (Elderly or disabled tenants only) ling (MURL) for Cass County 73,050 320-259-0393 or 1-888-203-9301 (ask for Ketti) ling (MURL) for Mille Lacs County 45,000 1&2 br apartments (rent is dependant on income) ling (MURL) for City of Waite Park 250,000 44,060 Shoreline Commons (Howard Lake, MN) illkFPAP Counseling/FPAP Loans 52,900 ` (Elderly or disabled tenants only) PAP Counseling/FPAP Loans 68,500 320-543-2663 (Resident Managers) II, St. Cloud, Tax Credit Award 246,634 1 br $525 - heat included River, Tax Credit Award 308,988 Groundhouse Apartments (Ogilvie, MN) er, Tax Credit Award, 204,960 320-259-0393 or 1-888-203-9301 (ask for Ketti) )elano, Tax Credit Award 368,648 2 br unit in duplex (rent is dependant on income) ■ ® • Central Minnesota PAID I-lousing Partnership. Inc. 810 W St. Gerrnain St. Suite 303 St.Cloud.MN 56301-4092 phone 320®259.0393 fax 2'5'0.259'9590 crni,p8100 cioudnet.corn www.cmhp.net Erg TO PEiti',E43/22R Cathy Mehelich City of Elk River-Economic Dev. January 6 13065 Orono Pkwy COC Advisory Committee • TCC, Little Falls • 1-3 p.m. Elk River MN 55330 January 20 Affordable Housing Options Lakewood Evangelical Free Church, Baxter For Registration call CMHP or Initiative Foundation February 3 COC Advisory Committee • TCC, Little Falls • 1-3 p.m. February 13 HOME pre-applications due March 2 fill) COC Advisory Committee • TCC, LittleisJ �r3xn_j:j Islslislsl s:sll:rsllsllsssil slsillrrllsssllssssllesslslssslsll EVHI/HOC • Initiative Foundation, LittleTalls •"9-a.m.-noon The Central ilArinecota Porasing Partner ship ic'a regional. non-pro; cor rrurait housing development corporation committed to assisting undercerved communities to preserve. , improve, and increase affordable housing for low and moderate income families and individual. 20ARD CF DIRECTORS -P STAFF Nancy Johnson-Hong, President Sheri Harris, Executive Director Laura Swenson, Vice President sheri@cmhp.net • Sharon Benson, Secretary Lisa Graphenteen,Deputy Director Roger Corbin, Treasurer lira @cmhp.net Polly Grell Erika O' Brien, Property Director Grout erika@cmhp.net • Doug Ginger Rudberg, Finance Director Mary Kramer cmhp810 @doudnet.com Anne McGill Cheryl Sieverding Fuchs, Housing Development Officer Wendy Rea cheryl@cmhp.net Mark Sexton Deanna Schutz, Program Manager • Chris Smith deanna @cmhp.net Sheila Seanger,Administrative Assistant Advisory Member, Jim Degiovanni, Attorney �-Sheila @cmhp.net Julie Schueller, Property Manager julie @cmhp.net Ketti Green, Occupancy Compliance Specialist — ketti@cmhp.net Jesse Ashbaugh, Property Administrator jesse @cmhp.net 0 -- - - , _ -. - •- -- --- :---,-- -.-:. --; .w ,w w *O ' ' w (y O O. 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U1Uz O� ., - 1x as y bA i , ,o U ; Q "=" a ''; 0• o r... cu v 0 '`-'4.44 , (1) '' -.1 .e -0 1 .4u3 -9. `34., 'CI *-0 m '� 4..O o �., w p s v to fl 44 ° G ti, 5 = °' A■NECentral Minnesota Housing Partnership, Inc. • 810 West St. Germain Street Suite 303 • St. Cloud • Minnesota • 56301-4092 DATE December 16, 2003 TO: Housing g &Redevelopment Authorities _ 2 Z� 3 County Commissioners Economic Development Authorities Community Action Councils Rural Development Offices FROM: Deanna Iemrnesc n, Pru iat Manage- - 1 RE: HOME Rental Rehabilitation Program Funding Availability The Central Minnesota Housing Partnership (CMHP) expects to receive approximately $800,000 in funding from the Minnesota Housing Finance Agency to administer the HOME Rental Rehabilitation Program(HRRP). Applications are currently being accepted for this program at CMHP offices until Friday, February 13, 2004. Counties included in the CMHP's service area include Aitkin, Benton, Carlton, Cass, Chisago,Crow Wing, Isanti, Kanabec, Mille Lacs,Morrison,Pine, Sherburne, Stearns,Todd, and Wright(excluding St. Cloud). This program offers rental property owners a deferred loan for the total project • costs to rehabilitate their buildings.Projects that are selected for funding will require an application fee in order to move ahead. Eligible building improvements include but are not limited to roofs, siding,windows, major systems updating, floor coverings, and painting. HRRP funding is available only to properties that meet certain rent limits and tenant income limits. In addition,projects approved for this program must agree to maintain rent and income limits for at least five years. Please pass this information to interested rental property owners and have them contact me to obtain application materials needed for the February 13th deadline. This information will be used to evaluate each project through the CMHP's selection criteria process.Owners will be notified of the status of their project after a review of all applications is completed. Because of the complex nature of the HRRP,the CMHP will set up a mandatory orientation session for all selected applicants to continue with the application process.All deadlines must be adhered to in order to be considered for funding. Applications postmarked after the deadline stated, will be considered ineligible for 2004 funding. The information being requested for the February 13th deadline is a pre-application. Selected applicants will be informed of all the remaining materials that need to be submitted at the orientation session. fr • PH 320.259.0393 —A MINNESOTA NONPROFIT IT CORPORATION E-MAILcmhp810@ctoudnet.com MN TDD 711 2(N OPPORTUNITY WEB PAGE cmhp.net OPPoRTUNITV FAX 320.2599590 Equal Opportunity Employer Reasonable accommodations are available CMHP SELECTION CRITERIA HOME RENTAL REHABILITATION PROGRAM • Factors and Award/Evaluation Criteria Buildings in jeopardy of conversion to market rate 20 points Long-term affordability requirement of housing units 20 points - Minimum of 10 years of affordability - Rural Development, Tax Credit,Non Profit Community Housing Need 10 points - Housing study identifying need - Economic Growth - Rehabilitation project being implemented Number of units in development (more is better) 20 points - 1-4 units 5 points - 5-10 units 10 points - 11-24 units 15 points - 25 +units 20 points Number of bedrooms per unit (2 or more) 10 points - 1 point per two +bedrooms units(max. 10 points) Cash Flow Analysis 10 points - Vacancy Rates under 5% - Cash match available Owner exceeds 25%Match as leverage 10 points - 1 point per percentage (max. 10 points) Existing condition of property 10 points - $3,000-$8,999/unit—5 points - $9,000-$14,000/unit— 10 points 5 Bonus Points Project in counties not previously awarded funding for the past two years Automatic Denial: Owners currently out of compliance with HOME, 4D or are delinquent with real estate taxes will be automatically denied. •