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BLIGHTED PROPERTIES DEMOLITION& <br /> FORGIVABLE RESIDENTIAL LOAN PROGRAM POLICY <br /> INTRODUCTION <br /> PURPOSE/BACKGROUND:The city of Elk River Housing and Redevelopment Authority <br /> (HRA)has developed a program to meet the untapped need for assistance with demolition and <br /> other redevelopment activities when either there is no current development plan or where future <br /> development visions are hindered by current blight. <br /> In some cases,despite a potential for future redevelopment,hazardous conditions or other public <br /> safety factors may become a community's immediate concern. Securing and maintaining vacant <br /> dilapidated structures is costly. Therefore,the Elk River HRA has created the Blighted <br /> Properties Demolition&Forgivable Residential Loan program to include loan funds for <br /> demolition activities when an imminent redevelopment opportunity does not currently exist. <br /> FUNDING AVAILABILITY: Available funding amounts vary per budget cycle. <br /> DEADLINES/REQUIREMENTS: The Blighted Properties Forgivable Residential Loan <br /> Program operates on a semi-annual application cycle. Applications are due February 1 and <br /> August 1 of each year. Completed applications and supporting documentation(3 copies) <br /> must be received by the city of Elk River by 4:30 p.m.on the due date to be considered for <br /> funding. An applicant may apply for more than one project,but an individual(separate) <br /> application must be completed for each site. NOTE: Electronic copies will not be accepted <br /> in place of paper. Please fill out the entire application. All applications must be <br /> complete upon submission in order to qualify for a loan. <br /> APPLICATION FEE:The applicant must submit an application fee of$180 at the time of <br /> submittal. <br /> QUALIFYING PROJECTS: A project qualifies for a loan if the following conditions are <br /> met: <br /> 1. Upon completion of the project,the property and structures will be owner-occupied <br /> dwellings; <br /> 2. The structures constitute a threat to public safety because of inadequate maintenance, <br /> dilapidation,obsolescence,or abandonment; <br /> 3. The structures are not listed on the National Register of Historic Places; <br /> 4.___Upon completion of the demolition,the HRA reasonably expects that the property will be Formatted:Normal,Right 0.13",Space <br /> Before: 0 pt,After: 0 pt,Don't add space <br /> improved and these improvements will result in economic development benefits to the between paragraphs of the same style,Line <br /> municipality. spacing: single,Numbered+Level:1+ <br /> Numbering Style:1,2,3,...+Start at:1+ <br /> 5. The structure must be defined per,MN State Statue 117.025,Subdivision 7 as"structurally Alignment:Left+Aligned at: 0.13"+Indent <br /> substandard"."Structurally substandard"means a building; at: 0.38",Font Alignment:Auto,Pattern:Clear <br /> (1)that was inspected by the appropriate local government and cited for one or more ( Font:11 pt,Bold <br /> enforceable housing,maintenance,or building code violations; Formatted:Font:11 pt <br /> (Formatted:Font:12 pt,Font color:Auto <br /> 1 <br />