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Request for Action <br /> <br /> <br />To Item Number <br />Housing and Redevelopment Authority 8.4 <br />Agenda Section Meeting Date Prepared by <br />General Business February 4, 2019 Amanda Othoudt, EDD <br />Item Description Reviewed by <br />HRA Housing Rehabilitation Loan Program Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />1. Approve, by motion, the loan origination agreement with CEE. <br />2. Approve, by motion, the program guidelines for the HRA Rehab Loan Program. <br />3. Approve, by motion, the loan servicing contract with CEE. <br />4. Approve, by motion, the subordination agreement and policy. <br /> <br />Background/Discussion <br />At their January 14, 2019, special meeting, the HRA reviewed the program guidelines and loan servicing <br />agreement with the Center for Energy and Environment (CEE) to administer the HRA Rehabilitation <br />Loan Program. <br /> <br />At the direction of the commission, staff worked with CEE to finalize the program guidelines and loan <br />servicing agreement based upon the discussion at their meeting. <br /> <br />Financial Impact <br />The HRA allocated $50,000 in the budget for 2019. <br /> <br />Attachments <br /> CEE Residential Loan Application <br /> CEE Loan Origination Agreement (clean and redlined) <br /> CEE Program Guidelines (clean and redlined) <br /> CEE Loan Servicing Contract Exhibit A Duties (clean and redlined) <br /> CEE Loan Servicing Contract Pricing Exhibit B <br /> CEE Subordination Agreement and Policy <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 />