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BLIGHTED PROPERTIES DEMOLITION & <br />FORGIVABLE RESIDENTIAL LOAN PROGRAM POLICY <br />INTRODUCTION <br />PURPOSE/BACKGROUND: <br />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 <br />future development visions are hindered by current blight. <br />In some cases, despite a potential for future redevelopment, hazardous conditions or other <br />public safety factors may become a community’s immediate concern. Securing and <br />maintaining vacant dilapidated structures is costly. Therefore, the Elk River HRA has created <br />the Blighted Properties Demolition & Forgivable Residential Loan program to include loan <br />funds for demolition activities when an imminent redevelopment opportunity does not <br />currently exist. <br />FUNDING AVAILABILITY: <br />Availablefunding amounts vary per budget cycle. <br />DEADLINES/REQUIREMENTS: <br />Applications are due on the first Monday of each <br />month. Completed applications and supporting documentationmust be received by the city <br />by 4:30 p.m <br />of Elk River . on the due date to be considered for funding. <br />APPLICATION FEE: <br />The applicant must submit an application fee of $500[plus legal and <br />any other out-of-pocket costs incurred by the HRA]at the time of submittal. <br />QUALIFYING PROJECTS: <br />A project qualifies for a loan if the followingconditions are <br />met: <br />Upon completion of the project, the property and structures will be owner-occupied <br />1. <br />dwellings; <br />The structures constitute a threat to public safety because of inadequate maintenance, <br />2. <br />dilapidation, obsolescence, or abandonment; <br />Upon completion of the demolition, the HRA reasonably expects that the property will <br />3. <br />be improved and these improvements will result in redevelopment benefits to the <br />municipality. <br />The structure must be defined per MN State Statue 117.025, Subdivision 7 as <br />4. <br />“structurally substandard”. "Structurally substandard" means a building: <br />that was inspected by the appropriate local government and cited for one or <br />(1) <br />more enforceable housing, maintenance, or building code violations; <br />in which the cited building code violations involve one or more of the <br />(2) <br />following: <br />a roof and roof framing element; <br />(i) <br />support walls, beams, and headers; <br />(ii) <br />foundation, footings, and subgrade conditions; <br />(iii) <br />light and ventilation; <br />(iv) <br />1 <br />498470v1 JSB EL185-13498470v2 JSB EL185-13 <br />