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�J <br /> etyof <br /> ElkRequest for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authoritv 7.1 <br /> Agenda Section Meeting Date Prepared by <br /> General Business October 5, 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 no new applications were received this month. Of the three submitted last month, one was <br /> approved for a MHFA loan in the amount of$40,000, and the other two applications are in the final stages of <br /> review. <br /> On the loan serving side, all loans are up to date as of September 29, 2020. This report reflects and anticipates <br /> approval for the modification for the delinquent loan. <br /> Staff continues to promote the event on our social media platforms. A half page ad ran in the Home <br /> Improvement Special section of the StarNenv. <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 and <br /> maintain residential properties. <br /> Attachments <br /> ■ CEE Monthly Loan Report <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 />