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<br />Request for Action <br /> <br /> <br />To Item Number <br />Housing and Redevelopment Authority 7.1 <br />Agenda Section Meeting Date Prepared by <br />General Business December 1, 2017 Colleen Eddy, Economic Development Specialist <br />Item Description Reviewed by <br />HRA Housing Rehabilitation Loan Program Amanda Othoudt, EDD <br />Administrative Agreement with CMHP <br />Reviewed by <br />Cal Portner, City Administrator <br /> <br />Action Requested <br />Approve, by motion, the HRA Rehab Owner-Occupied Housing Rehabilitation Program Administrative <br />Agreement with CMHP to administer the HRA housing program <br /> <br />Background/Discussion <br />At the August 5, 2013, regular meeting, the HRA approved hiring the Central Minnesota Housing <br />Partnership (CMHP) to serve as the HRA’s housing consultant to develop and administer an internally <br />funded Elk River housing program. <br /> <br />The loan program is now in its fourth year and has proved to be successful, with thirteen total projects <br />completed and two more projects in the works. Over $311,579 has been disbursed over the four-year <br />rehabilitation program period. <br /> <br />Staff continues to work with CMHP on marketing efforts; which consists of purchasing Facebook ads, <br />print ads in the Star News, posting on social media sites and holiday cards. Advertisements have been <br />displayed in the Star News over the past few months. <br /> <br />Financial Impact <br />As of October 30, 2017, the rehab loan balance available to lend is $143,632. No additional funds were <br />allocated in the budget for 2018. <br /> <br />Attachments <br /> 2018 Administrative Agreement <br /> Administrative Agreement Exhibits A and B <br /> Rehab Loan Report <br /> HRA Loan Report <br /> <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />