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M <br />kVA, ON <br />an •• <br />Minnesota <br />Housing <br />Finance Agency <br />February 27, 2009 <br />Ms. Sheila Havercamp <br />City of Brainerd c/o BLADC <br />124 North 6th Street <br />Brainerd, MN 56401 <br />400 Sibley Street I Suite 300 1 Saint Paul, MN 55101 -1998 1651.296.7608 <br />800.657.3769 1 fax: 651.296.8139 1 tty: 651.297.23611 www.mnhousing.gov <br />Equal Opportunity Housing and Equal Opportunity Employment <br />RE: Notification of Minnesota Housing Finance Agency Neighborhood Stabilization <br />Dear Ms. Havercamp: <br />Thank you for submitting your Neighborhood Stabilization Program funding application to <br />Minnesota Housing. As you may be aware, we received funding requests for over $50 million <br />and had only $38.8 million available. After thorough review and consideration, I regret to <br />inform you that your proposal was not selected for funding. <br />While the City of Brainerd on behalf of Crow Wing County communities was not selected for <br />NSP resources, I would like to make sure you are aware of the following Minnesota Housing <br />programs that may assist you in your neighborhood stabilization efforts: <br />• Community Activity Set Aside Program through which local lenders in cooperation <br />with community partners have access to mortgage financing for first time homebuyers, <br />• HOME Homeowner Entry Loan Program that offers up to $14,999 in federal HOME <br />funds for down payment and closing cost assistance to qualified borrowers under the <br />Community Activity Set Aside Program; <br />• Homeownership Assistance Fund that offers up to $3,000 in down payment and <br />closing cost assistance to qualified borrowers under the Community Activity Set Aside <br />Program; <br />• 203K purchase rehab financing through the Community Activity Set Aside Program; <br />• Homeowner Opportunity Program that provides short term, temporary financing for <br />the acquisition and rehabilitation of vacant properties in or in imminent danger of <br />foreclosure; <br />• Fix Up Fund and Community Fix Up Fund for home improvements <br />• Rehabilitation Loan Program for low income homeowners; <br />• Community Revitalization Fund (CRV) and Minnesota Urban and Rural Homesteading <br />(MURL) programs, with a fall funding round anticipated; and <br />• Foreclosure Prevention Assistance Program which offers counseling and financial <br />assistance to homeowners facing foreclosure. <br />