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Draft Exhibit A-11 <br /> Proposed Financial Programs <br /> In conjunction with the above financing, CEE proposes to deliver the following City funded <br /> programs on behalf of the EDA. <br /> Revolving Loan Program- Owner-occupied 1 to 4 unit dwellings <br /> The Revolving Loan Program offers owner-occupied 1 to 4 unit permanent residential dwellings <br /> home improvement financing of up to $25,000 at an interest rate of 4%. <br /> Revolving Loan Program—Mobile Homes <br /> The Mobile Home Revolving Loan Program offers owner-occupied mobile home owners the <br /> opportunity to borrow up to $7,500 at an interest rate of 4%to make needed repairs to their <br /> homes. <br /> Last Resort Deferred Loan Program <br /> The Last Resort Deferred Loan program is designed specifically for homeowners in the City of <br /> New Brighton that have home improvement needs but do not qualify for other home <br /> improvement loan programs. The financing offered consists of a deferred loan of up to $10,000 <br /> ($7,500 for mobile homes) at an interest rate of 0% for up to 20 years. <br /> MHFA Discount Loan Program <br /> CEE will utilize City funds to write down the interest rate on the Minnesota Housing Finance <br /> Agency's (MHFA) Community Fix-up Fund Program. The intent of the program is to make the <br /> interest rates on MHFA funded loans and City funded loans more consistent and leverage <br /> additional dollars for the City. The City will dictate the interest rate offered through the <br /> Discount Loan Program. <br /> Please reference the attached program guidelines (Exhibit B-11) for complete details regarding <br /> the above programs. <br /> Page A-4 New Brighton Home Improvement Program <br /> Center for Energy and Environment <br />