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J,/ <br /> Ells <br /> __ Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 7.1 <br /> Agenda Section Meeting Date Prepared by <br /> General Business July 7, 2014 Brian Beeman, Director of Economic <br /> Development <br /> Item Description Reviewed by <br /> Approve Housing and Redevelopment Authority Jeremy- Barnhart, Deputy Director, CODD <br /> (HR A) Housing Owner-Occupied Rehabilitation Reviewed by <br /> Program Amendment and related Redevelopment <br /> Plan <br /> Action Requested <br /> Approve by motion, making recommendation to the City Council to approve the Redevelopment Plan <br /> and amendments to the existing Housing Rehabilitation program: <br /> 1) Resolution Approving Housing Rehabilitation Loan Program <br /> 2) The Elk River HRA Rehabilitation I,oan Redevelopment Plan <br /> 3) The Elk River HRA Owner-Occupied Housing Rehabilitation Program Policies and Procedures. <br /> 4) The HRA Rehab Owner-Occupied Housing Rehabilitation Program Administrative _Igreement with <br /> CMHP to administer the new housing program. <br /> 5) The Elk River HRA Rehabilitation Loan Application <br /> 6) Elk River HRA Rehabilitation Loan Program Contractor Owner Agreement. <br /> 7) Elk River HRA Rehabilitation Program Mortgage and Repayment Agreement Owner-Occupied <br /> Housing Rehabilitation Program. <br /> Background/Discussion <br /> At the May 5, 2014 regular meeting, the HRA recommended approval of a Housing Rehabilitation Loan <br /> Program that includes Low to Moderate Income requirements. The HRA further directed staff to <br /> proceed with development of a program without the Low to moderate Income (EMI) restrictions so as <br /> not to limit the program based on income levels. The proposed actions amend the existing program to <br /> provide a housing rehabilitation program for homes within a specific geographic area (greater downtown <br /> area). <br /> The Planning Commission on May 271h confirmed the redevelopment area is consistent with the <br /> comprehensive plan, which is a requirement to establish a Redevelopment Area. With HRA's <br /> recommendation, the City Council will hold a Public Hearing. <br /> Jenny Moulton, the HRA's attorney from Kennedy & Graven will be present to explain any changes to <br /> the policy and required documents. <br /> Central Minnesota Housing Partnership (CMI IP) will administer the program over the next 3 years. <br /> Financial Impact <br /> The HRA transferred S 100,000 to fund the new housing program. <br /> rwe <br />