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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 November 2, 2020 Colleen Eddy, Economic Development Specialist <br /> Item Description Reviewed by <br /> HRA Housing Rehabilitation Loan Program Update Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Receive update on the Rehabilitation Loan Program. <br /> Background/Discussion <br /> CEE reported on the loan servicing area that all accounts are current. The past due homeowner,whose loan <br /> modification was approved at the October 5,2020, HRA meeting,is back on track. <br /> On the origination side, the phones and the applications have been very quiet this month; CEE did not receive <br /> any new applications. From the two applications that were still under review last month, one was approved for <br /> an MHFA loan (as the amount needed for the project was a little over $30,000.00 requiring a different loan); <br /> the other application is still pending documentation. <br /> Staff would like to have CEE present at the December 7, 2020, meeting to discuss the various programs they <br /> offer and the HRA Rehab Loan Program,to see if any modifications would be of interest. <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 />