My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
5.0 HRSR 06-01-2009
ElkRiver
>
City Government
>
Boards and Commissions
>
Housing & Redevelopment Authority
>
HRA Packets
>
2000-2009
>
2009
>
06-01-2009
>
5.0 HRSR 06-01-2009
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/28/2009 1:20:55 PM
Creation date
5/28/2009 1:20:55 PM
Metadata
Fields
Template:
City Government
type
HRSR
date
6/1/2009
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
5
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
ITEM # 5. <br />liver <br />MEMORANDUM <br />TO: Housing & Redevelopment Authority <br />FROM: Annie Deckert, Economic Development Assistant <br />DATE: June I, 2009 <br />SUBJECT: Update on Neighborhood Stabilization Program . <br />Background <br />At its January 26, 2009 special meeting the HRA authorized submittal of an application to <br />MN Housing Finance Agency for Neighborhood Stabilization Program (Foreclosure <br />Recovery) Funds in the amount of $593,820. On February 26`h, the NSP application was <br />approved in the amount of $593,820. for the following program initiatives: <br />• Down payment assistance <br />• Purchase & Rehabilitation of abandoned/foreclosed homes (buyer-driven) <br />• Purchase & Rehabilitation of abandoned/foreclosed homes (entity-driven) <br />Update <br />The NSP funding award was approved for the following neighborhoods; Windsor Oaks, <br />Trott Brook (all subdivisions), Park Pointe and Elk River Station. <br />Staff has been working with MN Housing on executing a contract and will provide a verbal <br />update at the meeting. Applications for the funding mechanisms are available on Tri-GAF's <br />website (www.tricap.org/nsp) and staff has begun identifying potential homes for <br />acquisition/rehabilitation. Work on the environmental review has begun and staff has <br />partnered with the county and held two informational NSP open house workshops for local <br />realtors and lenders. Staff also attended an informational meeting regarding the 2"`~ round of <br />NSP funds on May 27`'' and will provide a verbal update at the meeting. <br />Next Steps <br />Following the execution of the contract, the next steps would include executing NSP <br />funding agreements, developing the formal program implementation documents with Tri- <br />CAP and starting the acquisition process. Staff continues to attend meetings and trainings <br />put on by GMHF for the NSP funding administration. <br />
The URL can be used to link to this page
Your browser does not support the video tag.