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ttf Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 8.1 <br /> Agenda Section Meeting Date Prepared by <br /> Workshop March 7, 2016 Amanda Othoudt, EDD <br /> Item Description Reviewed by <br /> HRA Rehabilitation Loan Program and Allocation Cal Portner, City Administrator <br /> of Funds Reviewed by <br /> Action Requested <br /> Receive information on the HRA Housing Rehabilitation Loan Program and discuss future funding. <br /> Background/Discussion <br /> At the August 5, 2013, HRA meeting,the HRA heard a presentation about housing programs in Coon <br /> Rapids and Brooklyn Park and approved hiring the Central Minnesota Housing Partnership (CMHP) to <br /> serve as a consultant to develop and administer an internally-funded housing program. The HRA then <br /> met in a series of workshops to discuss what they would like to see in the housing program. <br /> On April 7, 2014, the HRA,by general consensus,agreed to fund the new housing program at$100,000 <br /> per year, for the next three years under contract with CMHP. The HRA Rehabilitation Loan Program <br /> was approved at the May 5, 2014,HRA general meeting. <br /> Over the past two years, the program has shown to be both popular and successful resulting in eight <br /> projects receiving$167,044 for rehabilitation. <br /> Staff is seeking commission direction continue the program and consider broadening the target area. Ed <br /> Zimny from CMHP will be in attendance to discuss and answer any questions about the program. <br /> Financial Impact <br /> Allocation for the HRA Rehabilitation program would be funded through the HRA Reserve Account. As <br /> of March 3, 2016, the HRA has a fund balance available for Housing and Redevelopment purposes of <br /> approximately$1 million. <br /> Attachments <br /> • 2014 CMHP Contract <br /> • 2014 Resolution <br /> re , . 171 <br /> NATURE <br />