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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 July 6, 2021 Colleen Eddy, Economic Development Specialist <br /> Item Description Reviewed by <br /> HRA Housing Rehabilitation Loan Program Update Brent O'Neil, Economic Development 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 reports all accounts are current. <br /> On the origination side, CEE received two new applications which are under review and in early stages of <br /> documentation. From the two pending applications from last month, one was approved through an unsecured <br /> program at CEE for a smaller amount,while the other applicant went through MHFA because of the loan <br /> amount ($38I,--). <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—May 2021 <br /> ■ June 2021 Preliminary Report <br /> ■ May 2021 Loan Fund Balance <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 />