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�J <br /> etyof <br /> ElkRequest for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authoritv 4.6 <br /> Agenda Section Meeting Date Prepared by <br /> Consent November 2, 2020 Colleen Eddy, Economic Development Specialist <br /> Item Description Reviewed by <br /> Satisfaction of Mortgage—William and Denise Hoops Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Approve,by motion,the Satisfaction of Mortgage for William and Denise Hoops. <br /> Background/Discussion <br /> On July 22, 2016,William and Denise Hoops received a loan from the HRA for $24,645 to make <br /> improvements to the property located at 806 Holt Ave. NW through the HRA's Rehabilitation Loan <br /> program. <br /> As of October 26, 2020, the Mortgage and Repayment Agreement has been fully paid and satisfied. <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 /> ■ Mortgage and Repayment Agreement <br /> ■ Satisfaction of Mortgage <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 />