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HOUSING <br />INVENTORY - <br />d. Housing <br />Maintenance <br />and <br />Rehabili- <br />tation <br />HOUSING <br />INVENTORY - <br />e. Available <br />Programs <br />As mentioned before, maintaining and rehabilitating <br />existing housing stock is an effective way to provide <br />lower cost housing. However, since most of Ramsey's <br />development has occurred within the past 10 years, <br />there are few homes which are in need of rehabilitation, <br />and is therefore not a present concern. Statistics <br />indicate that: <br />1) In the City of Ramsey there are presently 35 <br />units built before 1939 and worth less than <br />$20,000. This would indicate that there are <br />probably very few homes in need of rehabilitation. <br />The city could conduct a survey to determine <br />housing stock conditions at a more appropriate <br />time in the future. <br />In order to deal with Ramsey's housing needs, a variety <br />of state and federal programs are available. The follow -. <br />ing pages address each of them. <br />1) The U.S. Department of Housing and Urban <br />Development (HUD) <br />2) The Minnesota Housing Finance Agency (MHFA), <br />These approaches serve to establish a strategy for a Ramsey <br />housing program. They are a selected list, certainly not <br />all- encompassing, chosen because of their appropriateness <br />to the City of Ramsey. <br />1) HUD's Section 8 Housing Assistance Program for New <br />Construction - The city can not provide these programs <br />directly, but rather can allow the higher densities <br />which will attract interested developers. <br />This program provides rental assistance to low and <br />moderate income elderly and non - elderly families <br />residing in newly constructed or substantially rehabil- <br />itated multi- family housing. Eligible sponsors may <br />be either public or private groups. Financing for <br />development costs (land, building, utilities, etc.) is <br />not available directly under the Section 8 program, <br />but can be obtained from private lenders, from HUD <br />(under Section 202) and from the Minnesota Housing <br />Finance Agency. Eligible tenants are families with <br />incomes less than 80 percent of the countywide median <br />income (with adjustments for family size). The program <br />subsidizes the difference between 25 percent of the <br />tenant's income and the established "fair market <br />rent" for the area. <br />24 <br />