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<br />EXHIBIT B-1 <br /> <br /> <br />TOTAL 2023 PROGRAM BUDGET $150,000 <br /> <br /> ELK RIVER LOAN PROGRAM BUDGET <br /> <br />Revolving Loan Program Budget Allocation (includes Origination Fees, Remodeling Advisor Visit and <br />Annual Administration Fee): <br /> <br />Budget Notes: <br /> <br />1. CEE shall submit monthly invoices to the Housing and Redevelopment Authority in and for the <br />City of Elk River for the loan principal and administrative fees. <br />2. Services performed by CEE will initially be funded from the Total Program Budget as stated <br />above and paid in accordance with the following schedule. <br /> <br />(a) Loan Origination Fee $750.00 per loan closed <br /> (b) Annual Administration Fee $2,500.00 <br /> (c) Remodeling Advisor Visit (RAV) $250 per visit <br /> <br />st <br />The Annual Administration Fee shall be payable on January 1 of each year the contract is active. <br /> <br /> <br />3. Marketing <br />Marketing efforts will be supported by CEE and marketing costs are not included in the <br />administrative budget. Hourly rates are inclusive of all overhead expenses and will be charged <br />only for hours directly related to the labor of all program marketing. CEE will also be reimbursed <br />by the City of Elk River Housing and Redevelopment Authority for any non-labor, out-of-pocket <br />expenses relating to these services on a dollar-for-dollar basis. <br />Exhibit B-1 #3753 Page 1 <br />Agreement between the City of Elk River Housing and Redevelopment Authority and Center for Energy and <br />Environment <br /> <br />