7.4. HRSR 02-07-2022 - Laserfiche WebLink

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property including, but not limited to: siding, trim, soffit/fascia, roofing, garage doors, windows/doors, driveways, removal of trees affecting foundation, demolition of pools and sheds, HVAC, water heating, pest control, mold and mildew remediation, foundation repairs, deck/patio repairs (no new installation), hoarding cleanup, flooring, radon/lead/asbestos mitigation and other health and safety issues. 15. Ineligible Improvements: Any improvement not meeting the definition of an eligible improvement. 16. Sweat Equity: Work may be performed by property owners on a "sweat equity" basis. Loan funds may be used only for the purchase of materials. Loan funds cannot be used to compensate for labor, only for materials. Materials must be purchased and installed prior to the disbursement of the loan proceeds. When applicable, a signed city permit must be obtained. 17. Bids/Contractors: 1 contract bid required. All contractors must be properly licensed or registered with the Minnesota Department of Labor (if applicable). Permits must be obtained where required by the City of Brooklyn Park. 18. Multiple Loans: More than one loan per household/ property is permitted based upon the availability of funds and the borrower’s ability to qualify. The cumulative outstanding balance of all Code Enforcement Loans can not exceed the program maximum loan amount. The cumulative outstanding balance of all Brooklyn Park loans cannot exceed $50,000. 19. Post Install Inspection: Prior to the release of loan proceeds, the property is subject to inspection by a CEE representative or, where a permit is required, work must be off by a City inspector. 20. Work Schedule: All work must be completed within 120 days of the loan closing. However, when warranted, CEE may authorize extensions on a case by case basis. 21. Disbursement of Funds: Funds are held by CEE and payment is made to the contractor upon completion of work. An inspection will be performed by CEE (if a permit is not required) to verify completion of the work. The following items (and any additional as determined by CEE) must be received prior to disbursement of funds: 1. Final invoice from contractor (or materials list from supplier) 2. Final inspection verification by CEE (if necessary) 3. Completion certificate(s) signed by borrower and contractor 4. Lien waiver for entire cost of work and 5. Evidence of required city permit pulled and inspected, where applicable 22. Borrower Fees: 1% Origination Fee a Document Preparation Fee, mortgage filing fees, title work, credit report, flood certification and any other applicable closing costs. All fees may be financed.