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Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Housing and Redevelopment Authority 6.4 <br />Agenda Section Meeting Date Prepared by <br />General Business February 5, 2024 Joshua Mollan, Economic Development Specialist <br />Item Description Reviewed by <br />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 Housing Rehabilitation Loan Program. <br /> <br />Background/Discussion <br />The loan origination contract with CEE expired at the end of 2023. The amendment for a one-year extension <br />approved by the board in January has been executed and will expire December 31, 2024. <br /> <br />Regarding existing loans, CEE reports that all accounts are current and the HRA’s portfolio is performing as <br />expected with no delinquencies or late payments. There have been no new loans issued this period and $150,000 <br />remains available for new loan disbursements in 2024. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />Improve existing housing stock by offering incentives or programs to repair and 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 /> <br />service, and community engagement that encourages and inspires prosperity. <br />Updated: January 2023 <br /> <br />