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City's Economic Development and Financial Analyst Professionals to determine the amounts and uses. This could possibly be used for water and wastewater extensions. Tax Increment Financing - MN House Research Demolition Loan Program —This DEED program is used for cities to acquire and demolish blighted properties, to replace them with businesses that will create jobs and tax base. Once the city qualifies for the loan, the dilapidated properties are acquired by the city, they are demolished, and the city remarkets the lots for business development. This is a loan program with 2% interest for up to a 15-year term. Cities may qualify for partial forgiveness when the new business acquires the lot, constructs a new building, and creates jobs. This could be used for housing an assisted living facility, that has job creation, or for a commercial business. Demolition Loan Program / Minnesota Department of Employment and Economic Development mn. ov Other possible tools include the city working with Crow Wing County. The city could acquire tax forfeited homes from the county and demolish them to make them ready for a new home. Another possibility for the city is setting up a revolving loan program for purchase of dilapidated homes and demolition. We suggest that the city do a housing study that will more closely identify the housing gaps in the city. This could be used for grants or for private housing developers.