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Request for Action <br /> <br /> <br />To Item Number <br />Housing and Redevelopment Authority 4.5 <br />Agenda Section Meeting Date Prepared by <br />Consent October 7, 2019 Amanda Othoudt, ED Director <br />Item Description Reviewed by <br />Satisfaction Agreement - Barbara and Jerome Cal Portner, City Administrator <br />Olesen <br />Reviewed by <br /> <br /> <br />Action Requested <br />Approve, by motion, the Satisfaction Agreement for Barbara and Jerome Olesen. <br /> <br />Background/Discussion <br />On May 20, 2015, Barbara and Jerome Olesen received a loan from the HRA in the amount of $25,000 to <br />make improvements to the property located at 420 Main St. NW through the HRA’s Rehabilitation Loan <br />program. <br /> <br />On October 13, 2019, The Mortgage and Repayment Agreement dated May 20, 2015, recorded October <br />14, 2015 as Document No. 811093, executed by Jerry and Barbara Olesen, a married couple, to the <br />Housing and Redevelopment Authority in the original principal amount of $25,000 has been fully paid <br />and satisfied. <br /> <br />Financial Impact <br />N/A <br /> <br />Attachments <br /> Mortgage and Repayment Agreement <br /> Satisfaction of Mortgage <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br />