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<br /> <br />Request for Action <br /> <br /> <br /> <br />To Item Number <br />Housing and Redevelopment Authority 6.2 <br />Agenda Section Meeting Date Prepared by <br />General Business October 3, 2022 Joshua Mollan, 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 /> <br />Action Requested <br />Receive updates on the Rehabilitation Loan Program. <br /> <br />Background/Discussion <br />Minnesota Center for Energy and Environment (CEE) reports all accounts are current and the HRA’s portfolio <br />is performing as expected with no delinquencies or late payments. There have been no new loans issued this <br />period and $150,000 remains available for new loan disbursements. CEE is currently working on one loan for <br />properties in Elk River. It has not been determined yet if it would be considered under the Minnesota Housing <br />Finance Agency program or the HRA-funded loan. <br /> <br />th <br />A staff generated half-page ad was printed in the Fall Home Improvement section of the September 17 issue <br />of Star News. Staff has also posted about the program on social media accounts. <br /> <br />Staff has met again with ERMU and anticipates the print mailer to accompany utility bills late 2022 or early <br />2023. <br /> <br />Financial Impact <br />N/A <br /> <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 /> <br />Attachments <br /> CEE Monthly Loan Activity Report <br /> CEE Monthly Loan Activity Summary <br /> Star News 9/17 Print Ad <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />