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<br />3. Incentive funds will be available to qualified buyers to buy down principal on the <br />purchase of a home. <br /> <br />An outline of the program as well as a map of the impacted areas is attached. Only the two <br />darkest colors on the map will be able to qualify for any of the funding. Parts of Ramsey do <br />fall into this category. Funds will be distributed on a first come first serve basis with the <br />requirement that all funds must be encumbered within 18 months. Kate Thunstrom from <br />Anoka County will be here to present the program and address any questions. <br /> <br />Attachments: <br /> <br />1. Federal Neighborhood Stabilization Program Outline <br />2. Areas of Greatest Need Map <br /> <br />Action Statement: <br /> <br />Will be based on Council's discussion. <br /> <br />Reviewed by: K-60... 0- <br />City Administrator ~ <... <br /> <br />CCWS: 05-05-09 <br />