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Approved <br />Policy Background <br />City of' <br />Housing Assistance Policy <br />The purpose of the policy is to establish metrics when reviewing proposals for housing <br />assistance. The policy will apply to all housing proposals seeking financial assistance from the <br />City or any of its authorities. Types of typical financial assistance include, but are not limited to: <br />1. Tax Increment Financing (TIF) <br />2. Third -Part Grant Funding, such as: <br />a. Metropolitan Council Livable Communities Program <br />b. Department of Housing and Urban Development Community Development Block <br />Grants (CDBG) <br />3. City of Ramsey Housing and Redevelopment Authority (HRA) <br />4. Anoka County Housing and Redevelopment Authority (ACHRA) <br />The program is intended to prioritize the City's efforts in securing various forms of funding <br />opportunities related to housing. The program applies to all residential developments within the <br />City limits. The policy itself does not create any additional funding opportunities. <br />Funding Priorities <br />The funding priorities of housing assistance may vary from time to time depending upon current <br />economic and housing market trends. Listed below are the specific types of projects that may <br />be considered for housing assistance. <br />1. New construction of housing units <br />2. Rehabilitation of existing housing units <br />3. Preservation of existing affordable rental units <br />4. Conversion of market rate rental units into affordable rental units <br />5. Affordable Homeownership <br />6. Redevelopment projects designated by the City <br />Eligible Activities / Costs <br />Housing assistance can be used for the following activities on either rental or homeownership <br />projects: <br />