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I <br />'i <br /> I <br /> <br /> I <br /> I <br /> I <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> ! <br /> I <br /> I <br />I <br />t <br />I <br /> <br />4/2/84 <br /> <br />The Metropolitan Housing Fund <br /> <br />The Metropolitan Housing Fund (MHF) is a pool of funds that can be used to <br />provide reduc6dJdost financing and other types of housing assistance for low <br />and moderate income households. Reduced-cost financing will come from tax- <br />exempt bond issues, pension funds and other comparable sources. The other <br />types of assistance (down-payment assistance, reduced rents, etc.) will be made <br />possible by private contributions from foundations and corporations. <br /> <br />Who will participate in the MHF? <br /> <br />The MHF will be administered by the Metropolitan Council. To be effective, the <br />fund needs broadbased support from local governments, corporations, private and <br />corporate foundations, and labor unions and pension funds: <br /> <br />- Cities, counties, and housing and redevelopment authorities could <br /> contribute staff resources; assess housing needs; assist with zoning, <br /> permits and other local regulations; donate land; issue revenue bonds; <br /> abate taxes; and use Community Development Block Grant funds. <br /> <br />- Corporations could contribute land, or money in the form of grants, loans <br /> or investments. <br /> <br />- Private or corporate foundations could contribute money in the form of <br /> grants, loans or investments. <br /> <br />- Labor unions and pension funds could make housing-related investments. <br /> <br />How will the MHF benefit communities? <br /> <br />The fund will benefit communities in many ways. It will: <br /> <br /> - Provide housing that meets the needs of residents and workers, <br /> <br /> - Add young families to communities with declining school district <br /> enrollments. <br /> <br /> - Boost property tax revenues. <br /> <br /> - Provide sound returns on investments. <br /> <br />- Increase Job opportunities. <br /> <br /> <br />