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over a penod of years. With the finalization of the Muiti-Family Study it is evident that a vast majonty of aging and young population lives in multifamily housing and the lower values and needed maintenance indicatethat the muiti-family housing needs improvement. —� 4. Ownership Rehab – Currently the ownership rehab program provides rehab funds for the ownership loan program, the services of the HRC, renovation plan books, marketing and housing redesign grants. The HRC fee that provides financial and technical assistance to residents free of chargewiil increase siightly due to inflation. The ownership rehab program will become more popular as interest rates begin to rise. In addition, there is a need to increase the $10,000 maximum loan amount as home renovation costs continue to rise. In 2004 the loan program is using program income (interest and loan payments) to support new loans. However, the program income is being spent down and it is anticipated that new funds will be provided to support new loans in 2005. The loan program does not currently have an income limit so the use of federal funds to the loans is not an option. 2005 Suggested BudgetAm Can Federal Funds be Used 5. First Time Bu,�– This is one of the most significant programs that the HRA has undertaken since its inception with the purchase of the lots at Applewood. Wth the interest in these homes the program is sure to be a great success and an excellent method to bring new families into the community. However, with the limited levy funds there would not be an opportunityto purchase more propertyfor this program in 2005. However, the senior housing regeneration program through the Greater Metropolitan Housing Corporation (GMHC) has been very successful in Roseville to address the first time homebuyer needs. The pilot program did not require City and/or HRA funds. However, to continue to purchase additional homes in Roseville, the HRA may be asked to provide gap funding to GMHC for the continuation of this program in Roseville. 2005 Suggested BudgetAmourrt: Can Federal Funds be Used 6. Neiqhborhood Enhancement – This program has not been fully implemented due to limited funded and would not be able to be implemented with the request levy funds in 2005. The premise of the program is to promote resident participation, unity and pride in all neighborhood blocks by taking an active role in improving the quality of life within the City. The program would provide the framework to engage residents in being good neighbors, contract for joint services and improvements and provide more formal communication with the City to reduce neighborhooddecay. The HRAwill be reviewing rental licensing programs in 2005 for Council recommendation. If supported, this type of a program could be implemented in 2006. 2005 Suggested BudgetAmourrt: $10,000 Can Federal Funds be Used I No • Page 5