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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 Properties <br /> Demolition&Forgivable Residential Loan program to include loan funds for demolition activities <br /> when an imminent redevelopment opportunity does not currently exist. <br /> FUNDING AVAILABILITY: Available funding amounts vary per budget cycle. <br /> DEADLINES/REQUIREMENTS: Applications are due on the first Monday of each <br /> month. Completed applications and supporting documentation must be received by the city of <br /> Elk River by 4:30 p.m.on the due date to be considered for funding. <br /> APPLICATION FEE:The applicant must submit an application fee of$500 plus legal and any <br /> other out-of-pocket costs incurred by the HRA at the time of submittal. <br /> QUALIFYING PROJECTS: A project qualifies for a loan if the following conditions are met: <br /> LUpon 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.Upon completion of the demolition,the HRA reasonably expects that the property will be <br /> improved and these improvements will result in redevelopment benefits to the <br /> municipality. <br /> 4.The structure must be defined per MN State Statue 117.025,Subdivision 7 as"structurally <br /> substandard"."Structurally substandard"means a building: <br /> (1) that was inspected by the local government and cited for one or more <br /> enforceable housing,maintenance,or building code violations; <br /> (2) in which the cited building code violations involve one or more of the following. <br /> (i) a roof and roof framing element; <br /> (ii) support walls,beams,and headers; <br /> (iii) foundation,footings,and subgrade conditions; <br /> (iv) light and ventilation; <br /> (v) fire protection,including egress; <br /> (vi) internal utilities,including electricity,gas,and water; <br /> (vii) flooring and flooring elements;or <br /> (viii) walls,insulation,and exterior envelope; <br /> 1 <br /> 498470v2 JSB EL185-13 <br />