7.2 HRSR 05-04-2015
Request for Action
To Item Number
Housing and Redevelopment Authority 7.2
Agenda Section Meeting Date Prepared by
General BusinessMay 4, 2015Colleen Eddy, Economic Development Specialist
Item Description Reviewed by
Update on HRA Rehabilitation Loan Program Amanda Othoudt, EDD
Reviewed by
Suzanne Fischer, Director, COD
Cal Portner, City Administrator
Action Requested
Receive information on the city’s Housing Rehabilitation Program and approve, by motion, two mortgage
and repayment agreements.
Background/Discussion
Activity in the Rehabilitation Loan Program continues as there are now eight rehab projects in process.
Five projects are ready to start construction with allocated funds at $115,138; and three projects are in
draft scope of work phase, with estimated funds of $50,000.
Staff is requesting the HRA approve two mortgage and repayment agreements for 606 Jefferson Lane
NW, in the amount of $20,650 and 928 Main Street, in the amount of $24,900 per the Rehabilitation
Loan Program Policies.
Financial Impact
None
Attachments
CMHP Monthly Report dated 4.24.2015
City of Elk River HRA - Homeowner Rehab Program Monthly Report
Prepared By: Jason Krebsbach, Community Development Director, Central Minnesota Housing Partnership, Inc.
Completed: 4124115
PROGRAM ACTIVITY #
NOTES
I. Request for applications /nntg. attendees 9
6 household attended recent meetings
2. Applications in processing 0
3. Rehab projects in process 8
5 projects ready to start construction
3 projects in draft scope of work phase
4. Allocated funds
1
$115,138 for five projects ready for construction (includes payments for LBP assessments
5. Pending allocated funds
I
Estimate $50,000 for three projects in scoep of work phase