MHMFA will encourage and accept preliminary applications from towns and cities, local financial institutions, communityand neighborhood groups, and non-profit corporations concerned with housing and community development or other interested institutions and groups. However, every application must contain commitments from the municipality, local financial institutions, and neighborhood organizations. These commitments should be specific as possible. There must be an indication of a willingness to:

1. (a) participate in the development of a neighborhood preservation program and
2. (b) play a tangible role in the eventual implementation of the Neighborhood Preservation Program. Therefore, while any interested party may initiate the application process, approval of an application

by MHMFA requires the active participation of each essential component -- the neighborhood, the municipality, and the financial institutions.