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2005_0131_Packet
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2005_0131_Packet
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Roseville City Council
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MHFA encourages applicants to obtain a variety of financing assistance for eligible homebuyers. <br />However, MHFA prohibits the layering of CRV gap funding with any other CRV gap funding awarded <br />to the same Administrator or in partnership with another CRV gap funding awarded Administrator, <br />unless under circumstances approved by MHFA, <br />Administrators must comply with all program and reporting requirements. <br />Please refer to each of the specific program concepts for income limits/ guidelines. <br />■ Greater Minnesota Housing Fund only serves households with incomes that do not exceed <br />80%of statewide median income. Beginning January 1,2005, Greater Minnesota Housing <br />Fund's gap loan program will only serve income-qualifiedfamilies with children. <br />Family Housing Fund only serves households with incomes that do not exceed 80%of the Twin <br />Cities metropolitan area median income with priority given to households with incomes at or <br />below 50%- 60%of area median income. <br />Metropolitan Council's LHIA only serves households with incomes that do not exceed 80%of <br />the Twin Cities metropolitan area median income with preference for proposals with a <br />significant component serving households at 60 percent or below. Rehabilitation and <br />redevelopment programs in areas of low valued, blighted or substandard properties where the <br />local government is engaged in a redevelopment and neighborhood improvement effort to <br />which they have committed matching funding may serve households up to ll 5%of area <br />median income. <br />Minnesota Housing Finance Agency only serves households with incomes that do not exceed <br />ll 5%ofstate or area median income. <br />The Minnesota Department of Corrections - Institution Community Work Crew Affordable <br />House Building Program serves households with incomes at or below 80%of greater of state or <br />area median income. In certain areas, households with incomes up to ll 5%of state median <br />may also be served. Homes must be priced so as not to compete with the private residential <br />construction industry. <br />
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