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programs from other resources for larger buildings or properties that would need <br />additional resources for completing the rehabilitation. <br />• The Housing Resource Center would administer the program and will not charge <br />the RHRA any additional fees at this time. <br />3.6 Staff is recommending that the RHRA budget $150,000 in 2009 in order to implement <br />this new Rental Rehab loan program. This amount would allow the RHRA to assist a <br />minimum of three rental property owners. If the program is successful then RHRA could <br />budget additional funds in future budgets. In addition the Har Mar Apartments does have <br />funds earmarked to from the 2008 RHRA budget of $100,000. If Har Mar Apartments <br />does not receive funding from State of Minnesota by the end of November of 2008 then <br />the HRA could reduce the budget for this new program by $100,000. <br />4.0 RFIRA Recommended Action <br />Staff is recommending approval of a Multi-Family Rental Rehab Loan Program to be <br />implemented in 2009 with the proposed criteria as discussed above. <br />Prepared by: Jeanne Kelsey (651-792-7086) <br />Roseville Mulri-Family Rental Loan Program (08-19-08) -Page 4 of 4 <br />