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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 />Request for Action <br /> <br />To <br />Housing and Redevelopment Authority <br />Item Number <br />4.5 <br /> <br />Meeting Date <br />December 1, 2025 <br />Prepared By <br />Joshua Mollan, Economic Development Specialist <br /> <br />Item Description <br />Satisfaction of Mortgage - #23-028654 <br />Reviewed by <br />Brent O'Neil <br />Cal Portner <br /> <br />Action Requested <br />Approve, by motion, the Satisfaction of Mortgage for Loan #23-028654. <br /> <br /> <br />Background/Discussion <br />On June 16th, 2023, Loan #23-028654 was issued from the HRA through the Rehabilitation Loan Program for <br />$33,925.67 for a window project at PID 75-00546-0236. <br /> <br />As of November 24th, the Mortgage and Repayment Agreement has been fully paid and satisfied. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />Improve housing stock by offering incentives or programs to repair or maintain residential properties. <br /> <br />Attachments <br />1. Satisfaction of Mortgage - #23-028654 <br /> <br /> <br />Page 9 of 40