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,of & edevelo _nt <br /> Elk _ <br /> River Authority <br /> Year-end Activity Summary 2015 <br /> Director's Message <br /> Key Highlights in 2015 <br /> • HRA's partnership with CMHP Looking back at 2015, the Housing and Redevelopment Authority has <br /> has been widely successful in had a year filled with new programs and policies that will foster <br /> 2015. Six projects have been improvements throughout our entire community. .The Commissioners <br /> completed to date with two approved a new three-year Strategic Plan which included the <br /> more under construction. commissioning of an updated housing needs study. <br /> • Downtown Lighting project was The HRA continues to work on community redevelopment projects <br /> completed earlier this year,with through our Housing Rehabilitation loan program facilitated by the <br /> Central Minnesota Housing Partnership (CMHP). The Commission <br /> new LED lights installed on the seeks to improve blighted commercial/industrial properties within our <br /> trees and light poles along Main community through a new Blighted Properties Commercial and <br /> Street downtown.This project Industrial Forgivable Loan Program. <br /> amplifies the beauty of <br /> Looking ahead,we are seeing an increased demand for new single family <br /> downtown Elk River in the housing and multifamily dwelling units. The Housing Study completed <br /> evening all year round. in 2015 shows a need for over 1,300 new housing units to keep up with <br /> • Maxfield Research updated the demand. <br /> Housing Study in December of In addition,we are working with local developers to redevelop some of <br /> 2015. The Housing Study the communities blighted properties. We anticipate rolling out a new <br /> concluded that over 1,300 new program to further assist homeowners in the demolition and <br /> housing units are needed in redevelopment of blighted,single family dwellings. <br /> order to keep up with the In 2016, I am looking forward to a year of progress in the promotion of <br /> current demand. the HRA rehabilitation loan program and other redevelopment <br /> • The New Blighted Properties programs in Elk River through goal setting, policy update, and plan <br /> Commercial/Industrial implementation. <br /> Forgivable Loan Program was _- ._ <br /> implemented in 2015. " �,_ <br /> p Amanda Othoudt � . <br /> • Earlier in the year,the HRA Economic Development Director ` <br /> updated their Strategic Plan. aothoudt @E1kRiverMN.gov <br /> 13065 Orono Parkway <br /> Elk River,MN 55330 <br /> 763.635.1042 _ <br /> www.ElkRiver.MN.gov ° -`' <br />