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<br /> <br />Request for Action <br /> <br /> <br /> <br />To Item Number <br />Housing and Redevelopment Authority 6.1 <br />Agenda Section Meeting Date Prepared by <br />General Business November 7, 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 two loans for <br />properties in Elk River. <br /> <br />As part of the HRA’s request to circulate a mailer with utility bills, Elk River Municipal Utilities has drafted a <br />print mailer to promote the loan program in conjunction with promoting a weatherization program offered by <br />Tri-CAP. The mailer will be finalized and distributed in an upcoming utility bill cycle. <br /> <br />The loan origination contract with CEE was extended by the HRA at the end of last year through year-end <br />2022. A new contract or another one-year renewal would be necessary to continue the partnership with CEE in <br />2023. Staff will be working with CEE and will make a recommendation to the HRA at its December meeting. <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 /> <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 />