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<br />3.2 Program: Expand availability of gap funding for renovation projects by restructuring <br />the delivery of existing renovation loans provided by the City of Roseville <br /> <br />. Contract with a housing service provider to underwrite and service loans to allow <br />greater flexibility in the use and structure of the loans. Currently a first or second <br />mortgage must secure the City loans and the banks must service the City loan. This <br />has not been a successful way to provide renovation loans since many of the <br />renovations do not need a first or second mortgage financing. The City has not <br />provided any loans under the existing structure. <br />. Develop marketing materials to provide to the One-Stop Information line provided by <br />EERC realtors, local banks and housing service provider. <br />· Loan amount would be a maximum of $10,000 and would be for essential repairs to the <br />home. The City loan would be provided if the homeowner is unable to receive similar <br />loans provided by MHF A and Ramsey County thereby "filling the gap". (example: <br />unable to meet income requirements or the funds are not available) <br /> <br />3.3 Proeram: Develop a technical advisory service that will encourage and assist residents <br />through the complex construction process when making home improvements. <br /> <br />. Contract with a housing service provider to provide technical building expertise to <br />residents free of charge that would include the following: <br />Building evaluations <br />Information on City building code and building permit process <br />Assist in preparing a written scope of work for the renovation project <br />Providing construction cost information <br />Educate the homeowner on the construction bid process <br />Evaluate bids and work completed to ensure quality and cost effective <br />renovations <br />Monitor the construction process <br />Provide pre and post purchase counseling <br /> <br />3.4 Program: Create new first time homeowners by targeting families currently living in <br />Roseville rental units. <br /> <br />. Contract with a housing service provider to conduct home ownership education <br />programs (pre/post purchase counseling) with an effective marketing program <br />targeting residents in Roseville's apartment units. <br />. The housing service provider would conduct pre/post purchase counseling to include <br />information on downpayment, closing cost and renovation loans and grants and how <br />to most effectively access and package the funds that are provided by State, County <br />and City sources. <br />. The housing service provider would work with local realtors, contractors and builders <br />to target the purchase of homes with a value below $160,000 for Roseville first time <br />homebuyers. <br /> <br />RCA - RHIP 11/8/99 - Page 2 of 3 <br />