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able to be a candidate for this proj ect. <br />2.5 The HRA Board is supportive of exploring this opportunity to achieve the city <br />housing goals and is seel�ng input and support from the City Council. Providing <br />new affordable ownership opportunities would meet the criteria under the Local Housing <br />Incentive Account (LHIA) as part of the Metropolitan Council's Program. In addition, <br />such a project would also meet Ramsey County's CDBG funding criteria, especially since <br />they are very pleased with their participation in the Applewood Court proj ect. <br />2.6 Funds from the Met Council LHIA program are grants that must be matched on a dollar- <br />for-dollar basis by the municipality or HRA receiving the funds. The LHIA funds may be <br />used for costs associated with proj ects including, but not limited to, acquisition, <br />rehabilitation and construction of permanent affordable and life cycle housing. <br />2.7 If the Council is supportive, the HRA would proceed to have concept plans developed, <br />order an appraisal and submit funding applications. <br />3.0 Recommended Council Action <br />By motion, approve and encourage the HRA to submit an application for the redevelopment of <br />311 County Road B for small lot single family homes under the Minnesota Housing Finance <br />Agency's (MHFA) Consolidated Request for Proposal process. <br />Prepared by: Cathy Bennett (651-792-7072) <br />Attachments: Site location, Application Goals Summary <br />RHRA_ support for MHF'A funding (1-31-05) - Page 2 of 2 <br />