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The Council preferred using Local Affordable Housing Aid as grants rather than loans. The proposed distribution includes $10,000 First Generation Homebuyer grants, capped at 10% of available funding, and Community Development Block Grant/HOME grants of up to 45%; final agreement terms will return for approval.
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The Council is shaping how Oakdale will use its affordable housing funds, with a preference for grants that residents do not repay. Staff will revise the agreement with the Community Development Agency, while the Council continues discussing parameters for the Home Improvement Loan Program. The final agreement was not approved at this workshop.
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