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METROPOLITAN COUNCIL <br />PLANNING ASSISTANCE LOAN PROGRAM <br />PURPOSE <br />To assist local governments in the Metropolitan Area with activities related to implementation of the <br />Metropolitan Land Planning Act. Certain aspects of planning for long-term care of older and <br />disabled residents are also eligible for loan funds. <br />ELIGIBILITY <br />Any city, county or township located in whole or in part within the seven -county Metropolitan Area. <br />The local unit of government must have a locally approved comprehensive plan and implementing <br />ordinances on file with the Metropolitan Council. <br />AVAILABLE FUNDING <br />As of May 1, 1990, about $200,000 is available in the revolving program fund. <br />MAXIMUM LOAN AMOUNT <br />There is no dollar limit on loan requests, except overall fund availability. A local government may <br />apply for a loan of up to 75 percent of the cost of an eligible project. <br />TERM OF LOAN <br />Loans are interest free, for a term not to exceed three years. <br />APPLICATION PROCEDURES <br />Application forms with a non-refundable filing fee are submitted to the Metropolitan Council. The <br />filing fee is $100 for loans up to $15,000. For loans over $15,000, the filing fee is $150. <br />AWARD OF PLANNING ASSISTANCE LOANS <br />All loan requests will be evaluated and reviewed according to the program guidelines. After <br />Metropolitan Council approval, loans will be awarded by contract between the Council and the local <br />government. <br />FOR MORE INFORMATION <br />For a complete set of program guidelines, application forms or any further information, please call <br />Tori Flood (291-6621). <br />kjp6OS1W$.25.90 <br />