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Centerville 2040 <br /> Livable CommunitiesDemonstration Account(LCDA) Centerville is eligible for Met <br /> Council funding for developments within the community that will innovative <br /> projects often involving affordable'and connected housing. The City will continue <br /> to work with ldevelopers in'coordination'with the Met Council in supporting RFP <br /> submissions for projects thatwillbringasignificant numberofnew affordable'units, <br /> and will urge more support for projects that meet affordability thresholds of 50% <br /> Regional Rt AMI or below as a reflection of the city's,greatest cost-burdened need. The City is <br /> Federal funding especially supportive of use of this grant opportunity to develop projects with a <br /> for Affordable strong'transit'-oriented development orientation'. <br /> Housing' MHFA Consolidated Request for Proposals This major annual funding request from <br /> Minnesota Housing Finance Agency supports affordable housing development.The <br /> City will continue to work with developers in coordination with MHFA in supporting <br /> RFP submissions for projects that will bring a significant number of new affordable <br /> units, and will urge more support for projects that meet affordability thresholds of <br /> 50%AMI or below as a reflection of the city's greatest cost-burdened need. <br /> Low Income Housing Tax Credit Properties(LIHTC)With LIHTC, developers apply for <br /> »tax credits to offset costs at the time of development. Although the City does not <br /> fund this type of assistance, Centerville will consider stating its intent of support for <br /> >developers who pursue LIHTC and who intend to 'seek ways to retain the <br /> affordability of the LIHTC property after the terms of LIHTC are up. <br /> Scattered site housing opportunities Scattered site housing creates affordable units <br /> throughout a neighborhood, instead of concentrating them in one area. Centerville <br /> Affordable can work with the Anoka County HRA to facilitate the creation of such units. <br /> Housing Improvement Areas(HIAs)MIAs are a defined area in a city in which housing <br /> Housing' improvements in condominium or townhome complexes may be financed with the <br /> Preservation assistance of the city(EDA, HRA). An active development authority would have the <br /> Strategies opportunity to designate an HIA in an area where existing housing needs <br /> improvement'for retention of housing affordability is at risk. <br /> Public and/or subsidized housing When feasible, Centerville will work <br /> collaboratively with entities that offer subsidized housing opportunities to very low- <br /> income residents. Housing subsidies are one of the only means by which to offer <br /> housing support to very low-income individuals and families, and Centerville <br /> recognizes this is an effective housing tool for very low-income, high-barrier and <br /> highly cost-burdened households. <br /> Chapter 4 1 Page 14 <br /> 100 <br />