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i I it Y IYIY <br /> ' AGENCY MINNESOTA <br /> HOUSING <br /> FINANCE <br /> i e`er <br /> Date., January 2, 1998 <br /> • Minnesota Cities: it and County Housing and Redevelopment Authorities, <br /> To. <br /> Fort.Authorities and Economic Development Authorities <br /> From: Michael Hale <br /> Director, linneso a Homes Division <br /> Subject: Announcement and Request for Proposal, The Minnesota City Participation Program <br /> Anno� � <br /> The Minnesota Housing Finance Agency (MHFA) is pleased to announce and request proposals for <br /> � � (MCPP). I for mortgage revenue <br /> the 1998 !Minnesota City Participation Program The housing poo <br /> bonds in 1 998 is anticipated to be in the range of $37-45 million. <br /> The information <br /> contained herein expands and supplements the "Request for Proposal" an d <br /> provides program guidelines of the M PP, <br /> The Minnesota city Participation Program <br /> Through the M <br /> F R, MHFA &ems mortgage revenue bonds on behalf of cities to meet locally <br /> in needs. The proceeds of these bonds provide below market interest rate home <br /> ident�#red boos � PP provides cities <br /> mortgage loans s for low and moderate income fiat-time home buyers* The M <br /> throughout the state with a unique opportunity to easily access housing resources to meet the <br /> needs of their citizens. <br /> Request for Proposals <br /> . . for the Program b completing the enclosed Request for Proposal fora. This <br /> tt�es may apply � l the criteria i rr <br /> format and accompanying ng documentation has been developed to meet al <br /> application fa � <br /> state administrative rules governing applications for mortgage revenue bond authority.. Al l <br /> • <br /> cities with the exception of those that reoeive a separate entitlement of bonding authority <br /> Minnesota cities yr M a "ol " refers to a city <br /> . submit proposals to participate in the l IPP. Under the , <br /> to t�► y <br /> are eligible � � . this includes all cities, <br /> defined in Minnesota statutes Section 4 c.o , Subdivision Generally,as deft • • authorities and economic development <br /> and coup port a ri <br /> city county housing and redevelopment authorities, <br /> authorities. <br /> •ve rules pertaining in to accessing mortgage revenue bond authority, cities may <br /> Under administrative � , � <br /> he I PP b submitting alternate documentation as described in Attachment 2. <br /> also apply fort y <br /> Please note cities that choose to apply for allocations and self-issue bonds may use the enclosed <br /> application form or Attachment 2. <br /> Applications for t <br /> • he MCPP must be submitted to MHFA between 8:00 a.m., February <br /> and 4*00 p.m., February 179 1998. <br /> 400 Sibley street, Suite 300, St. Paul, Minnesota 55101 (612) 296-7608 <br /> Telecommunications Device for the Deaf{Taa}(612)297-2361 <br /> Equal opportunity Housing and Equal opportunity Employment <br />