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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 July 1, 2019 Amanda Othoudt, EDD <br />Item Description Reviewed by <br />HRA Housing Rehabilitation Loan Program Update Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Receive update on the Rehabilitation Loan Program. <br /> <br />Background/Discussion <br />The Center for Energy and Environment (CEE) has received 11 requests for information on the HRA <br />Rehabilitation Loan Program since taking over the program in February and has 5 applications currently <br />in process. One loan was approved for $25,000 and is set to close on July 5, 2019. <br /> <br />Our Aging Delinquency Report shows three loans delinquent. Two borrowers are 15 days past due and <br />the other is 120+ days delinquent. The two accounts that are 15-days delinquent will make payments this <br />week. Attempts are being made by both CEE and staff to work with the homeowner that is 120+ days <br />delinquent to get their account current. <br /> <br />Financial Impact <br />The total 2019 program budget is $117,854. <br /> <br />Attachments <br /> CEE Monthly Loan Reports <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 />