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<br /> <br />Request for Action <br /> <br /> <br /> <br />To Item Number <br />Housing and Redevelopment Authority 4.5 <br />Agenda Section Meeting Date Prepared by <br />Consent July 5, 2022 Joshua Mollan, Economic Development Specialist <br />Item Description Reviewed by <br />Satisfaction of Mortgage – Gadach and Tschida Brent O’Neil, Economic Development Director <br />Reviewed by <br />Cal Portner, City Administrator <br /> <br />Action Requested <br />Approve, by motion, the Satisfaction of Mortgage for Eileen, Teresa, Gerald, Edward, Lynn, and Mary <br />Gadach, and Janet Tschida. <br /> <br />Background/Discussion <br />On October 1, 2018, Eileen, Teresa, Gerald, Edward, Lynn, and Mary Gadach, and Janet Tschida <br />received a loan from the HRA through the HRA’s Rehabilitation Loan program for $25,000 to make <br />improvements to the property located at 870 Vernon Ave NW. <br /> <br />As of June 30, 2022, the Mortgage and Repayment Agreement has been fully paid and satisfied. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />The goal of the HRA is to improve existing housing stock by offering incentives or programs to repair and <br />maintain residential properties. <br /> <br />Attachments <br /> Mortgage and Repayment Agreement <br /> Satisfaction of Mortgage <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />