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��i <br /> City of <br /> Elk , Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 8.1 <br /> Agenda Section Meeting Date Prepared by <br /> Work SessionJune 1, 2020 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> Blighted Properties Residential Forgivable Loan Cal Portner, City Administrator <br /> Program and Policy Discussion Reviewed by <br /> Action Requested <br /> Information presented for discussion purposes. <br /> Background/Discussion <br /> At the August 5, 2019, meeting,the HRA discussed the two programs the city implemented to improve <br /> the community's housing stock,the Blighted Properties Residential Forgivable Loan Program and the <br /> HRA Rehabilitation Loan Program. <br /> Since August,the commission heard from Kristin DeGrande,Housing Coordinator from Coon Rapids <br /> about their Front Door Program which offers small grants to enhance curb appeal, and heard a <br /> presentation from staff on the Richfield Rediscovered program,which offers opportunities to build new, <br /> market-rate homes through lot sale or their credit program. <br /> At their November 4, 2019, meeting,the consensus of the HRA was to continue discussing changes to <br /> the Blighted Properties Program and policy and rework it to allow flexibility for builders to acquire these <br /> types of homes with the caveat that the properties will be owner-occupied upon completion. <br /> At their January 6, 2020, meeting, the HRA reviewed some of the attorney's recommendations to change <br /> the policy to allow this flexibility. Due to time constraints, this policy discussion was tabled to a future <br /> meeting for continued review and evaluation against the HRA's long-term goals. <br /> At their May 4, 2020, meeting,attorney Florin discuss the proposed changes to the HRA Blighted <br /> Properties policy. Following the discussion, staff continued to work with attorney Florin on policy <br /> changes directed by the HRA. Staff will continue reviewing the changes to the policy with the HRA this <br /> evening. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ Blighted Properties Residential Forgivable Loan Policy (attorney redlined) <br /> The Elk River Vision <br /> A Y�elcoming community nvith revolutionary and spirited resourcefulness, exceptional P U W E H E o s r <br /> service, and community engagement that encourages and inspires prosperity ,g /` UR <br />