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The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br /> <br /> <br />Request for Action <br /> <br />To <br />Housing and Redevelopment Authority <br />Item Number <br />6.1 <br /> <br />Meeting Date <br />April 1, 2024 <br />Prepared By <br />Joshua Mollan, Economic Development Specialist <br /> <br />Item Description <br />Housing Rehabilitation Loan Program Update <br />Reviewed by: <br />Brent O'Neil, Economic <br />Development Director 3/28/2024 <br />Cal Portner, City Administrator 3/29/2024 <br /> <br />Action Requested <br />Receive updates on the Housing Rehabilitation Loan Program. <br /> <br />Background/Discussion <br />CEE reports that all accounts are current and the HRA's portfolio is performing as expected with no <br />delinquencies or late payments. There have been no new loans issued this period and $150,000 remains <br />available for new loan disbursements. <br /> <br />CEE has received at least three inquiries in March, with two homes in the Urban Services District and one <br />outside the district. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />Improve existing housing stock by offering incentives or programs to repair and maintain residential <br />properties. <br /> <br />Attachments <br />1. CEE Monthly Loan Activity Report <br />2. CEE Monthly Loan Activity Summary <br /> <br /> <br /> <br />Page 12 of 32