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<br />Tri.City Newsletter, September/October 1985 - Page 17
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<br />Low Interest Rate Home Loan Program
<br />
<br />Two million dollars was re-
<br />cently approved for the City of
<br />Anoka under the Minnesota
<br />Housing Finance Agency
<br />(MHFA) Municipal Home Mort-
<br />gage Program for use by elig-
<br />ible first-time home buyers to
<br />purchase new or existing
<br />homes in Anoka. The new pro-
<br />gram is a combined effort of
<br />the Anoka Housing and Rede-
<br />velopment Authority and the
<br />TCF Mortgage Corporation, to
<br />
<br />enable more people to have
<br />the opportunity to become
<br />homeowners.
<br />Here's how the program
<br />works: You apply for a no.gim-
<br />mick, fixed monthly payment,
<br />9.95% (10.375% A.P.R.), 30
<br />year mortgage loan. There is a
<br />minimum down payment of
<br />5%, plus normal closing costs
<br />and fees. The home seller
<br />must pay 31/2 discount points
<br />at loan closing. MHFA mort-
<br />
<br />gage loans are not assumable.
<br />To participate in the pro-
<br />gram you must have a signed
<br />purchase agreement on a
<br />home within the City limits of
<br />Anoka at the time you apply
<br />and be a reasonable credit
<br />risk. Sale price limits are
<br />$83,000 for a newly construct-
<br />ed home and $75,000 if pur-
<br />chasing an existing home.
<br />"Adjusted" household income
<br />may not exceed $34,000, if pur-
<br />
<br />chasing a newly constructed
<br />home, and $31,000 if purchas-
<br />ing an existing home. "Adjust-
<br />ed" income is your actual in-
<br />come less certain deductions
<br />allowed by MHF.A. Homes elig-
<br />ible may be. new or existing
<br />single-family residences, in-
<br />cluding town homes, condo-
<br />miniums, and existing duplex-
<br />es. '
<br />Applications are being
<br />
<br />taken on a first come, first
<br />serve basis and appointments
<br />can be made by calling Mr.
<br />Duane Roman, Twin City Fed-
<br />eral Mortgage Corporation, at
<br />566-4205, Monday through Fri-
<br />day 8 a.m. to 5 p.m. This pro-
<br />mises to be a popular pro-
<br />gram, so contact Mr. Roman
<br />immediately for further infor-
<br />mation and to set up an ap-
<br />pointment.
<br />
<br />Proposed Walker-On-The-River Project
<br />
<br />In response to a number of
<br />questions received by both the
<br />City of Anoka. and the
<br />developer, Walker Methodist
<br />Residence and Health Servic~
<br />es, Inc., regarding the present
<br />
<br />status of the proposed senior
<br />building and eligibility re-
<br />quirements the following in-
<br />formation is provided to
<br />answer some of the questions
<br />asked by Anoka area senior
<br />
<br />Commission Profile
<br />Al10ka Housing and
<br />Redevelopment Authority
<br />
<br />......
<br />
<br />
<br />Dianne Omdahl, Merry Wayne Elvig, Harold Bonnell and Jack Hiltz. Not pic.
<br />tured Zilla Way.
<br />
<br />As we do each issue, the
<br />City spotlights the work of one
<br />of the commissions appointed
<br />by the Anoka City Council to
<br />assist the council and staff in
<br />making Anoka a better place
<br />to live. This issue highlights
<br />the important work of the
<br />Anoka Housing and Redevel-
<br />opment Authority (HRA).
<br />The focus of the Authority,
<br />as the name might suggest, is
<br />on redevelopment of Anoka's
<br />commercial areas, encourag-
<br />ing the development of a wide
<br />range of options for housing
<br />for citizens of all income
<br />levels and assisting in the re-
<br />habilitation of the city's exist-
<br />ing housing stock.
<br />In meeting these goals, the
<br />H RA has been busy on an am-
<br />bitious 1985 Work Plan. The
<br />HRA, in cooperation with the
<br />Anoka City Council, has been
<br />working with the Walker
<br />Methodist Residence and
<br />Health Services, Inc., since
<br />late March and an application
<br />has been submitted by Walker
<br />to the United States Depart-
<br />ment of Housing and Urban
<br />Development to build 45 units
<br />of senior citizen housing at
<br />the corner of Mai_n and Ferry
<br />Streets. Approval or denial of
<br />the application is expected in
<br />. early October.
<br />The HRA is also sponsoring
<br />a low interest home loan pro-
<br />gram, through the Minnesota
<br />Housing Finance Agency and
<br />TFC Mortgage Corporation,
<br />that will make available home
<br />loans at a 9.95% interest rate
<br />
<br />to qualified and eligible first-
<br />time homebuyers. It is expect-
<br />ed that approximately 30 fam-
<br />ilies will bene,fit from the pro-
<br />gram.
<br />The other major project on
<br />the Authority's agenda are re-
<br />visions to the Bridge Square
<br />Tax Increment Financing Dis-
<br />trict. A public hearing is ex-
<br />pected to be held in October
<br />and if approved, the HRA will
<br />begin to work on redeveloping
<br />the Monroe Street parking lot.
<br />The HRA's popular Housing
<br />Rehabilitation program, ad-
<br />ministered by the Anoka Coun-
<br />ty Community Action Pro-
<br />gram, will be available to
<br />Anoka residents again during
<br />1985. Finally, the HRA's new,
<br />innovative Commercial Rehab-
<br />ilitation program will be ready
<br />this fall for downtown busi-
<br />nesses to make exterior and
<br />facade improvements.
<br />Members of the Anoka
<br />Housing and Redevelopment
<br />Authority are: Merrywayne El-
<br />vig, Chairman; Diane Omdahl,
<br />Vice Chairman; Zilla Way, Sec-
<br />retary; Jack Hiltz, and Harold
<br />Bonnell. The HRA holds a
<br />regular meeting on the fourth
<br />Monday of each month at 7:30
<br />p.m. at the Anoka City Hall,
<br />but also schedules special
<br />meetings as needed.
<br />For more information on the
<br />HRA and its projects, please
<br />contact any of these members
<br />or Mark Nagel, Executive Di-
<br />rector at Anoka City Hall, at
<br />421-6630, ext. 145.
<br />
<br />citizens.
<br />The proposed apartment
<br />building will be for the elderly
<br />and the handicapped. The
<br />building will be located at the
<br />~orner of Ferry Street and
<br />Main Street and will have
<br />approximately 45 on-bedroom
<br />apartment units. Besides the
<br />apartments, there will be a
<br />multi-purpose room for ac-
<br />.tivities, a laundry room, public
<br />bathroom, tub room, security
<br />entrance, emergency call sys-
<br />. tem, mailboxes, parking, and
<br />other amenities.
<br />As for eligibility require-
<br />ments, persons over 62 years
<br />of age and/or handicapped
<br />would be eligible to occupy
<br />the apartments, if they meet
<br />income eligibility and other re-
<br />quirements set by the Depart-
<br />ment of Housing and Urban
<br />Development. As a general
<br />
<br />rule, residents would pay 30
<br />percent of their adjusted gross
<br />annual income for rent, if they
<br />meet the income eligibility
<br />and other requirements.
<br />The project is sponsored by
<br />Walker Methodist Residence
<br />and Health Services, Inc. and
<br />will be owned by Walker
<br />Senior Housing Corporation II,
<br />a non-profit corporation com-
<br />posed of members from the
<br />Anoka community and Walker
<br />Board of Trustees.
<br />With the approval and the
<br />assistance of the Anoka City
<br />Council and Anoka Housing
<br />and Redevelopment Authority.
<br />Walker submitted an applica.
<br />tion to the Department 0'
<br />Housing Urban Development
<br />on May 15, 1985 for a fund
<br />reservation to finance the pro-
<br />ject. We expect to receive a
<br />decision Irom the Department
<br />
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<br />i
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<br />
<br />of Housing and Urban De-
<br />velopment on the proposed
<br />project sometime in early Oc-
<br />tober, 1985. Should the ap-
<br />plication be successful and all
<br />permits be granted, the senior
<br />citizens building would be
<br />constructed sometime in 1986
<br />and be called Walker-On-The-
<br />River. If the application is suc-
<br />cessful, and the fund reserva-
<br />tion has been secured, an in-
<br />terest list of names of poten-
<br />tial'residents for the building
<br />will be created on a first come,
<br />first served basis with no dis-
<br />crimination.
<br />Watch 'or ~urther "'orrT\a-
<br />: 0" on 'n S "'u~h nee<:le1 P':::'
<br />,ec: 'I" earl J OC'ober '985 ,..
<br />the meantime 11 you have any
<br />further questions regarding
<br />the project. please call Joe
<br />Ramnarine of Wall{er a' 870-
<br />890'
<br />
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<br />SO GOOD TOGETHER
<br />
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<br />
<br />
<br />MOTORCRAFT
<br />OIL and OIL FILTER SPECIAL
<br />
<br />TC
<br />
<br />2 & 3 ~ MOTORCRAFT ~ TC
<br />, ENGINE TUNE-UP SPECIAL -,
<br />
<br />
<br />$15.95
<br />
<br />ANY APPLICABLE TAXES EXTRA.
<br />
<br />Solid state tune-up includes installation of Motorcraft
<br />spark plugs; inspection of choke, throttle linkage, spark
<br />plug wires and distributor cap; adjustment of idle and
<br />timing. Eights and Econolines. slightly more.
<br />
<br />TOTAL SPECIAL PRICE-PARTS and LABOR
<br />
<br />4 Cylinder
<br />
<br />$48.40
<br />
<br />VALID SEPTEMBER. OCTOBER. 1985
<br />
<br />ANY APPLICABLE TAXES EXTRA.
<br />
<br />TC
<br />
<br />13
<br />
<br />FRONT END
<br />ALIGNMENT SPECIAL
<br />
<br />6 Cylind(Jr
<br />
<br />$51.60
<br />
<br />VALID SEPTEMBER. OCTOBER, 1985
<br />
<br />TC
<br />
<br />WIPER BLADES
<br />and SOLVENT SPECIAL
<br />
<br />Check and adjust caster. camber and toe.in. Passenger
<br />cars only. IVehicles equipped with MacPherson strut
<br />suspension include toe. in adjustment only.)
<br />
<br />Includes parts and installation of two wiper blade refills
<br />and one 32 oz. can of Ford Ultra.Clear windshield
<br />'washer solution concentrate.
<br />
<br />.,.
<br />
<br />TOTAL SPECIAL PRICE AS DESCRIBED
<br />
<br />VALID SEPTEMBER. OCTOBER. 1985
<br />
<br />ANY APPLICABLE TAXES EXTRA.
<br />
<br />$26.95
<br />
<br />ANY APPLICABLE TAXES EXTRA.
<br />
<br />TOTAL SPECIAL PRICE AS DESCRIBED
<br />
<br />';.
<br />
<br />$9.05
<br />
<br />VALID SEPTEMBER. OCTOBER. 1985
<br />
<br />IIIBlDI
<br />
<br />Art Goebel, Inc.
<br />
<br />3401 Coon Rapids 427-1120
<br />Coon Rapids, M N 55433
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