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11 <br /> <br />2023 HRA and EDA Annual Summary March 1, 2024 <br /> <br />Properties <br />In January, the EDA continued its contract with Ryan Hardin of Hardin Companies as its broker for its <br />available land. Ryan has been actively marketing the properties and has been involved in many discussions <br />and decisions. <br />Natures Edge Business Center <br />The Northwest site at Natures Edge Business Center I has had strong interest with an aim at closing <br />in 2024. The available 21-acre land at Natures Edge Business Center III continued to be marketed <br />for business park uses. <br />Fox Haven <br />The 3-acre property continued to be marketed and staff have continued to research the best uses of <br />the property. <br />Main and Gates <br />The 1.7-acre property had a purchase agreement signed in June but was unable to close on schedule. <br />There remains interest in the site as staff continue to market it. <br /> <br />Status of Loans <br />EDA Microloans <br />The EDA had four active loans in 2023 with one set to be paid off in early 2024. <br />EDA Active Loan Portfolio <br />Number of Loans 4 <br />Total Original Principal $ 611,200.00 <br />Outstanding Balance $ 338,403.62 <br />HRA Rehab Loan Program <br />The HRA closed four rehab loans through CEE for a total of $122,677.73. Moreover, in 2022 and <br />2023 CEE closed six additional loans outside of our program to residents in Elk River for a total of <br />$80,990. <br />HRA Active Loan Portfolio <br />Number of Loans 9 <br />Total Original Principal $ 221,953.95 <br />Outstanding Balance $ 162,108.05 <br /> <br /> <br />