Laserfiche WebLink
<br />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 <br />any 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 />Upon completion of the proposed project, the property and structures on the property 1. <br />will be owner-occupied dwellings that align with the surrounding neighborhood. The <br />dwelling will include at a minimum 1600 finished square feet with 2 bedrooms and 1.5 <br />baths and a two-car garage; <br />The current structures constitute a threat to public safety because of inadequate2. <br />maintenance, dilapidation, obsolescence, or abandonment; <br />Upon completion of the demolition, the HRA reasonably expects that the property will3. <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 as4. <br />“structurally substandard”. "Structurally substandard" means a building: <br />that was inspected by the local government and cited for one or more(1) <br />enforceable housing, maintenance, or building code violations; <br />in which the cited building code violations involve one or more of the following:(2) <br />a roof and roof framing element;(i) <br />support walls, beams, and headers;(ii) <br />foundation, footings, and subgrade conditions;(iii) <br />light and ventilation;(iv) <br /> 1 <br />498470v2 JSB EL185-13