Laserfiche WebLink
Housing and Redevelopment Minutes <br />January 7, 2019 <br />S. Open Forum <br />No one appeared for Open Forum. <br />6. Public Hearings <br />There were no public hearings. <br />7.1 HRA Housing Rehabilitation Loan Program <br />Page 2 <br />Ms. Othoudt presented the staff report. She introduced Jim Hasnik, Director of Lending <br />Services from the Center for Energy and Environment (CEE), who presented the <br />rehabilitation loan program details to the HRA with a PowerPoint presentation about their <br />loan program offerings, some offerings which are already available to Elk River residents. He <br />indicated the loan documents included in the packet were drafts that could be crafted to the <br />HRA's policy and vision for this rehabilitation program. <br />Chair Toth asked if CEE has their own programs they fund or do they only administer to <br />cities. <br />Mr. Hasnik stated a little over half of their loans are using their own funding for energy and <br />home improvement programs as well as solar and commercial programs. The remaining loan <br />programs are funded by city dollars and each city has unique programs based upon their <br />criteria. He explained the handouts and updates to the loan format sheets, noting Elk River's <br />would be crafted for our needs. <br />Chair Toth asked what the cost savings would be for switching from CMHP to CEE. <br />Ms. Othoudt stated they reviewed the cost savings at the December meeting and the HRA <br />agreed it would benefit the HRA to proceed with CEE due to the significant cost savings <br />and administration of the loan program. <br />Chair Toth asked how long it would take to implement the CEE loan program. <br />Mr. Hasnik indicated it would take approximately one month to implement the program <br />which included writing the contract and setting up the computer programs and loan <br />documents. <br />Chair Toth asked if there were any pending loans awaiting approval by CMHP. <br />Ms. Othoudt stated there was one loan that the HRA would be reviewing for approval that <br />evening. She stated that loan would be approved through CMHP. She said there were no <br />other pending loans and any new loans would be run through CEE after approval of the <br />paperwork. <br />