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127 <br /> <br /> <br />FHA Down Payment Assistance <br />Federal Housing Administration (FHA) loans typically have lower interest rates and smaller down <br />payments than other loans. They also have low closing costs and are typically available to first-time <br />homebuyers and those who are trying to make their homes more energy efficient (FHA Energy- <br />Efficient Mortgage). <br />Other Tools <br />Public-Private Partnerships <br />The City of Ramsey is actively creating relationships with local businesses, developers, and <br />potential partners. The Economic Development Department works diligently to find opportunities <br />for public-private partnerships, when private dollars can assist a public project with a mutually <br />beneficial outcome. <br />When we would use this: Public-private partnerships work best when the City and the partner <br />have similar goals and desired outcomes for a project. Potential projects that the City is actively <br />looking at are new park spaces around affordable housing projects, a new parking ramp near <br />affordable, multi-family housing, park spaces, and The COR, as well as roadway improvements. For <br />new single-family housing development projects proposed through the PUD process, the City will <br />attempt to suggest the cost-sharing of public amenities and improvements to adjacent spaces – such <br />as parks, trails, open spaces, roadway improvements, or pedestrian crossings.