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<br />CASE #2 <br /> <br />TITLE: <br /> <br />DISCUSSION REGARDING CHALLENGES IN THE RAMSEY <br />HOUSING MARKET <br /> <br />BY: Sylvia Frolik, HRA Executive Director <br /> <br />INTRODUCTION: <br /> <br />The declining or correcting housing market and the wave of foreclosures brings with it a wide <br />range of challenges, some of which include the following: <br /> <br />1. Are there ways to help residents stay in their homes? <br /> <br />2. What can be done to stabilize vacant homes and prevent vandalism and neighborhood <br />deterioration? <br /> <br />3. Are there metJ;1Ods the City can implement to attract new homeowners to Ramsey and fill <br />the vacant homes? <br /> <br />4. Are there ways to ensure timely water shut off to prevent further property damage? <br />(State legislature is considering legislation that would require utility companies to notify <br />cities when the gas and electric is turned off.) <br /> <br />5. How does the community deal with increased property and building maintenance issues <br />resulting from vacancies and/or depleting home owner association revenues? <br /> <br />6. Are there programs that the City can initiate to balance stricter lending policies? <br /> <br />Commissioner Elvig has requested that the HRA have a dialogue about these emerging issues. <br /> <br />DISCUSSION POINTS: <br /> <br />Records reflect the following for Ramsey: <br /> <br />Year # of Foreclosures <br /> <br />2006 57 <br />2007 127 <br />2008 (15t Qtr) 53 <br /> <br />Ramsey has partnered with the Minnesota Home Ownership Center and the communities of <br />Anoka, Coon Rapids, Blaine and Andover to sponsor a Borrowers and Foreclosure Prevention <br />Workshop on Tuesday, May 13 at the Anoka Technical College. That workshop was advertised <br />in the Ramsey Resident, all of the official community newspapers, Anoka Shopper, Cable T.V., <br />and local reader boards. Ramsey did include a flyer in the last utility billing that was sent to all <br /> <br />10 <br />