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Њ <br />Economic Development Authority <br />2018 Annual Report <br />DIRECTOR MESSAGE <br />The City of Elk River strives to proactively facilitate redevelopment, housing diversity, and reinvestment in <br />our community. The Housing and Redevelopment Authority (HRA) had an exciting year filled with new <br />housing development and redevelopment projects that will improve our overall community. <br />In 2018, we saw 152 new single family housing starts, a 35% increase over the previous year generating <br />$34,280,302 in taxable value. Additionally, the City Council approved six single-family plats totaling 192 lots, <br />and Elk River Senior Living completed construction of a new 100-unit housing complex. <br />Through our programs, we continue to work with local businesses to redevelop some of the communityÔs <br />more tired properties. <br />Last year, the HRA continued to seek redevelopment into our older housing stock to preserve housing <br />diversity for all life cycles using our Housing Rehabilitation Loan Program, which will be soon administered <br />by the Center for Energy and Environment (CEE). <br />The HRA is collaborating with CEE to offer many new energy-related programs in 2019. These state-wide <br />programs such as the Home Energy Loan Program, additional home improvement loan opportunities, solar <br />financing incentives, and unsecured loan programs are a few of the options that will be available to Elk River <br />homeowners. <br />In 2019, I am looking forward to a year of progress in promoting the new and improved Housing <br />Rehabilitation Loan Program and other redevelopment projects in conjunction with the Mississippi <br />Connections Plan through goal setting and plan implementation. <br />Amanda Othoudt, EDFP <br />Economic Development Director <br />aothoudt@ElkRiverMN.gov <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />763.635.1042 * www.ElkRiver.MN.gov <br />Њ <br />