Laserfiche WebLink
�J <br /> etyof <br /> ElkRequest for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authoritv 7.2 <br /> Agenda Section Meeting Date Prepared by <br /> General Business December 6, 2021 Brent O'Neil, Economic Development Director <br /> Item Description Reviewed by <br /> Extension—CEE Loan Origination Agreement Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Approve,by motion,Amendment One to the Loan Origination Agreement between the City of Elk River <br /> Housing and Redevelopment Authority and Center for Energy and Environment. <br /> Background/Discussion <br /> Since 2019, the Center for Energy and Environment (CEE) has been responsible for receiving applications and <br /> originating loans under the HRA's Rehabilitation Loan Program. <br /> The three-year agreement for those services expires December 31, 2021. To continue processing applications <br /> beyond 2021, a new term is necessary. <br /> CEE has proposed an amendment to the current agreement which would extend the present agreement through <br /> 2022. The amendment also incorporates a change in fees consistent with CEE's agreements in other <br /> communities. <br /> Financial Impact <br /> The agreement has an annual fee of$2,500 plus fees associated with the closing of each loan. The program <br /> budget of$150,000 for 2022 would allow CEE to approve and disburse up to that amount from the HRA fund. <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 /> ■ Amendment One <br /> ■ Current Loan Origination Agreement <br /> ■ Exhibit B-1 (Program Budget) <br /> The Elk River Vision <br /> A avelcoming community n ith revolutionary and spirited resourcefulness, exceptional service, and p U w E A E o s r <br /> community engagement that encourages and inspires prosperity /` UR <br />