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Roseville developed anHIA policy in 2009 toprovide townhome and condominium <br />200 <br />associations with financing when significant rehabilitation is neededwhen the <br />201 <br />association demonstrates insufficient financial reserves to fund the rehabilitation,or when the <br />202 <br />association is unable to secure funding from traditional sources.If the City determines an <br />203 <br />association qualifies foran HIA, the City drafts an agreement, which reflects the requirements <br />204 <br />. To date, the <br />205 <br />program has been used once with assisting Westwood Village I, but inquiries occur atleast <br />206 <br />Attachment J. <br />207 <br />County and State Home Improvement Loan Programs <br />208 <br />Ramsey County and the Stateof Minnesotaalsooffer rehabilitation loan programs that are <br />209 <br />income limited and may berelated to emergency assistance. The programs do havemaximum <br />210 <br />loanamountsorterms,and are offeredsecured and unsecured with varyinginterest rates. See <br />211 <br />Attachment Kfor a chart that comparesall the loans availableto Roseville residents. The <br />212 <br />chart also includes programs available to residents of municipalities comparable to Roseville. <br />213 <br />Ramsey County also receives federalHOMEfunds annually from Housing and Urban <br />214 <br />Development (HUD) as well asCommunity Development Block Grant (CDBG) funds that <br />215 <br />have specific guidelines for property owners. These funds are limited and require income <br />216 <br />qualifications orare tobe used in low-to-moderate income neighborhoods for acquisition or <br />217 <br />infrastructure improvements.The City of Roseville and theRHRA haveusedthese funds to <br />218 <br />assist housing developments. Attachment Kprovides an outline of the programfor owner- <br />219 <br />occupied housing. <br />220 <br />PO <br />OLICY BJECTIVE <br />221 <br />Provide the REDA with information regarding current programs that sustain and improve owner- <br />222 <br />occupied and multi-family housing values in Roseville. <br />223 <br />BI <br />UDGET MPLICATIONS <br />224 <br />Report is information proposes only at this time and does not have a budget implication. <br />225 <br />SR <br />TAFF ECOMMENDATION <br />226 <br />Review attached information and provide direction to staff regarding current programs and other <br />227 <br />programs that the REDA would like explored to increase housing values. <br />228 <br />RCA <br />EQUESTED OUNCIL CTION <br />229 <br />Provide direction to staff regardingcurrent programs and other programs that the REDA would like <br />230 <br />explored to increase housing values. <br />231 <br />Prepared by:Jeanne Kelsey, 651-792-7086 <br />Attachments:A:Construction Consultation and Loan Program Activity <br />B:Summary of Energy Audits for 2016 <br />C:Housing Replacement Tax Valuation <br />D:Green Building/Remodeling Award Winners <br />E: Workshop series update <br />F:NEP Program outcomes <br />G:Rental Licensing Report <br />H:Abatement Report <br />I:Multi-Family Loan Programs <br />J:HIA Policy <br />Page 6of 7 <br /> <br />