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�J <br /> etyof Request for Action <br /> Elk <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authoritv 4.5 <br /> Agenda Section Meeting Date Prepared by <br /> Consent July 6, 2021 Colleen Eddy, Economic Development Specialist <br /> Item Description Reviewed by <br /> Satisfaction of Mortgage—Hicks Brent O'Neil, Economic Development Director <br /> Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Approve,by motion,the Satisfaction of Mortgage for Matthew and Carol Hicks. <br /> Background/Discussion <br /> On October 27, 2015,Matthew and Carol Hicks received a loan from the HRA through the HRA's <br /> Rehabilitation Loan program for $25,000 to make improvements to the property located at 1205 4"' Street <br /> NW. <br /> As of May 28, 2021, 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 />