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Currently, these limits are as follows: <br /> County Area Median Income <br /> 11 County Twin Cities Metropolitan Area <br /> (Anoka, Carver, Chi sago, Dakota, Hennepin, I santi. Ramsey, <br /> Scott, Sherburne, Washington, and Wright) <br /> Olmsted $45,680 <br /> All other counties $39,120 <br /> Cities have the option of establishing any price limits desired, provided they do not <br /> exceed the statutory defined limits I-isted below. The current statutory purchase price <br /> maximums are as follows: <br /> If the mortgaged property is located in: Existing Home New Construction <br /> 11 County Twin Cities Metropolitan Area $95,000 $95,000 <br /> (Anoka, carver Chisago1 Dakota, Hennepin, <br /> laanti, Ramsey, Scott, Sherbume, Washington, <br /> and Wright) <br /> St. Lou <br /> i s County $95,000 $95r000 <br /> Clay County $91,1 8 $95,000 <br /> Benton and Stearns Counties $78-1545 $95,000 <br /> Houston County $73,100 $95,000 <br /> Balance of state $77,540 $95y000 <br /> M PP funds may only be used to finance properties located within the jurisdictional <br /> limits of the participating city or county. <br /> n. <br /> a <br /> One of the following conditions must be met ff new construction is to be provided in <br /> t1- seven county Twin Cities metropolitan area under the M PP: <br /> 1. The new housing must be located in a redevelopment area where at least 25% <br /> of the buildings are substandard. <br /> 2. The new housing must be replacing a substandard structure. <br /> 3. The new housing must be part of a housing affordability initiative, meeting one <br /> or more of the criteria listed in Attachment 1. <br /> 4. The new housing is located on a parcel purchased by the city or conveyed to <br /> the city under Section 282.01, Subdivision 1 (tax-forfeited lands). <br />