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EOty1� Request for Action <br /> To Item Number <br /> Housing and Redevelopment Authority 7.1 <br /> Agenda Section Meeting Date Prepared by <br /> General Business August 3,2020 Colleen Eddy, Economic Development Specialist <br /> Item Description Reviewed by <br /> HRA Housing Rehabilitation Loan Program Update Amanda Othoudt,ED Director <br /> Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Receive update on the Rehabilitation Loan Program. <br /> Background/Discussion <br /> CEE reported receiving two applications, one new and one reactivation of an application that was closed due <br /> to no response from the borrower. Both applications are under review and are waiting for bids and <br /> documentation. <br /> CEE reports there are no new delinquencies, all borrowers are making payments on time, and there are no <br /> signs of borrowers being impacted by COVID thus far. CEE is expecting one more payment from the past due <br /> homeowner to arrive by the end of the week. Following receipt of this payment, CEE will work with the <br /> homeowner to modify their loan agreement. <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 or programs to repair <br /> and maintain residential properties. <br /> Attachments <br /> ■ CEE Monthly Loan Report <br /> The Elk River Vision <br /> A welcoming community with revolutionary and spirited resourcefulness, exceptional ,`POWERED <br /> service, and community engagement that encourages and inspires prosperity INAWRE1 <br />