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i <br />PWGRAK SUMMARY <br />M <br />Housing The Minnesota s AqencYl (MffPAJ Revolving Loan Program <br />affecting provides 3% loans to low Income homeowners for houslng Improvements <br />directly safetyt habitability., energy efficiency and <br />access1billty of <br />households are not eligible I necessary assistance • g <br />other state e' federal 1 i a 1 <br />The program funded by + funding level # r March 2989-July <br />1991 program phase will be $3 million. These funds are distributed <br />statewide through local housing and rode vel opmen t: authorities,, community <br />action agencies, and other nonprof1t organizations which currently <br />contract for dellvery of' . Rehabilitation Loan Program.. <br />11110 program H.11 bill <br />Applicants must meet, eight: eligriblilty criteria In order to qualify for <br />Program, are - <br />2. The applIcant must own the property to be 1mproved and it must b-r <br />principal place of res1dence,.1 <br />value of the appilcant's assets after <br />deductlng any outstandinq <br />Indebtedness <br />dD <br />from ® calculation a # `I assets are the following. <br />a) The house to be repalred and th�e land upon which I t: Is locate <br />up to two contiguous lots of platted land or 160 contiguou <br />acres, of' unplatted land, Lanquage In the document securing th <br />loan will require * s profits <br />the sia,lel would be required tol be used to reduce the loan I <br />(b) Real R'stateli equipment, supplies and Inventory used In <br />busIness, i <br />(ic) Household furnishinv, clothinq and one automobile. <br />The, structurer upon completion, of' necessary Improvementsr w111 be <br />reasionably livable, <br />termi, of the loan In i Administering estimation. gntltles <br />