Laserfiche WebLink
City of <br /> Elk - <br /> RiVer Request for Action <br /> To Item Number <br /> Housing and Redevelopment Authority =8.1 <br /> Agenda Section Meeting Date Prepared by <br /> Work Session August 3,2020 Colleen Eddy, Economic Development Specialist <br /> Item Description Reviewed by <br /> Blighted Properties Residential Forgivable Loan Amanda Othoudt,ED Director <br /> Program and Policy Discussion Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Information presented for discussion purposes. <br /> Background/Discussion <br /> In August of 2019, the HRA discussed two HRA programs to improve the community's housing stock, the <br /> Blighted Properties Residential Forgivable Loan Program and the HRA Rehabilitation Loan Program. <br /> Since August,the commission heard from Kristin DeGrande,Housing Coordinator from Coon Rapids about <br /> their Front Door Program and a presentation from staff on the Richfield Rediscovered program. <br /> At their November 4, 2019, meeting,the HRA consensus was to continue discussing changes to the Blighted <br /> Properties Program and policy to allow flexibility for builders to acquire these types of homes with the caveat <br /> that the properties will be owner-occupied upon completion. <br /> On January 6, 2020, they reviewed the HRA attorney's recommendations to allow for flexibility. Due to time <br /> constraints,the discussion was tabled for continued review and evaluation against the HRA's long-term goals. <br /> In May, attorney Fiorini discussed the proposed changes to the policy and worked with staff continued on <br /> policy changes directed by the HRA. In June,the HRA discussed the revisions and the attorney's <br /> recommendations. The HRA asked staff to revise the attachments check list and bring it back for review. The <br /> HRA also asked for clarification on when, and in what form,would the loan be forgiven. <br /> Financial Impact <br /> N/A <br /> Mission/Policy/Goal <br /> The goal of the HRA is to improve existing housing stock by offering incentives for demolition activities when <br /> an imminent redevelopment opportunity does not currently exist. <br /> Attachments <br /> ■ HRA Blighted Properties Residential Forgivable Loan Program <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 />