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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 />May 6, 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 <br />Cal Portner <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 closed on two CenterPoint EZPAY loans in Q1. <br /> <br />Staff is working on the details on another mailer in partnership with Elk River Municipal Utilities. The mailer is <br />aimed at being distributed in May or June. <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. Q1 2024 Loan Summary Report <br /> <br /> <br />Page 13 of 27