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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 November 4, 2019 Amanda Othoudt, ED Director <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) held an informational meeting this month; two people <br />were in attendance. CEE is currently reviewing two applications and waiting on documentation before <br />they can move forward. <br /> <br />Our Aging Delinquency Report shows two loans delinquent. One borrower is 150+ days past due. CEE <br />was able to make some headway with the homeowner this past month. CEE requested a credit report and <br />a title search to see what is the status of their first mortgage and other bills. They are current in their first <br />mortgage, electric, gas and water bills, but they are behind in all credit cards and loans. They are planning <br />on selling their house and use the proceeds to pay this loan in full as well as credit card and medical debt. <br />They will continue to make small payments on their loan. <br /> <br />The other delinquent homeowner makes a payment over the phone on the last day of the month, to <br />which the report doesn’t reflect the updated information. <br /> <br />Financial Impact <br />N/A <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 />