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~NFO~nnaT~o~t <br />MEMORANDUM <br />TO: Housing and Redevelopment Authority <br />FROM: Clay Wilfahrt, Assistant Director of Economic Development <br />DATE: March 5, 2012 <br />SUBJECT: Foreclosure Prevention Initiatives Update <br />Staff continues to work on foreclosure prevention initiatives. Currently staff is engaged in <br />numerous foreclosure prevention projects: <br />MN Home Ownership Center (MNHOC) mailings -Staff partnered with MNHOC <br />in 2009, 2010 and 2011 to create and distribute informational materials regarding free <br />foreclosure prevention assistance. The most recent letter was distributed in March <br />of 2011, and staff will be sending out another mailing in April of 2012. The letter <br />and distribution materials are provided to banks, realtors, non-profits and churches. <br />• Comprehensive database -Staff partners with Elk River Municipal Utilities, <br />Sherburne County, Police Depaxtrnent and Building Department to maintain a <br />database of foreclosures and suspected foreclosures to monitor utilities especially <br />during the winter and other concerns surrounding foreclosed properties. <br />• Staff periodically records PSAs about free foreclosure information and programs fox <br />the local cable channel. Staff last recorded one in October of 2011. <br />• Staff maintains a stock of foreclosure prevention materials for distribution and <br />provides to the Elk River Area Chamber of Commerce, businesses and residents. <br />• Staff includes information regarding prevention and foreclosure scams in the <br />quarterly publication of The Current. <br />• Staff provides foreclosure information (in addition to other housing programs and <br />information) at www.ci.elk-river.mn.us/housing <br />PawE~EO ~r <br />A~~ <br />