7.1 HRSR 10-05-2015 hi Request for Action
River
To Item Number
Housing and Redevelopment Authority 7.1
Agenda Section Meeting Date Prepared by
General Business October 5,2015 Colleen Eddy, Economic Development Specialist
Item Description Reviewed by
Update on HRA Rehabilitation Loan Program Amanda Othoudt, EDD
Reviewed by
Cal Portner, City Administrator
Action Requested
Receive information on the city's Housing Rehabilitation Program.
Background/Discussion
Four projects have been completed to date, one project is waiting to be recorded, two are currently under
construction, and one is waiting for bids to be returned.
Over$142,021 has been disbursed over the three-year rehabilitation program period.
Staff continues to work with CMHP on advertising,postings to social media and hosting some upcoming
informational meetings.
Financial Impact
None
Attachments
• CMHP Monthly Report dated September 2015
P 1 I E I E I 1Y
NATURE
12014 Elk River HRA Homeowner Rehab Program Monthly Report September 2015
Updated:9/29/15
Completed Projects
App.Date Name Project# Home Address Date Current Status Loan amount Loan rate Loan term Lead Paint Recording Monthly
Approved inspect. Fees Payment
2 8/27/2014 Shawn&Deborah Menning ER-4 525 8th St.NW 8/27/2014 completed $18,657.00 2.25 10 $567 $46 $173.77
4 8/28/2014 Marlin&Vicky Stimpson ER-5 606 Jefferson Lane NW 2/23/2015 completed $20,650.00 2.25 10 $0 $46 $192.33
1 8/21/2014 Scott&Cindi Thompson ER-3 1021 4th St.NW 8/27/2014 completed $22,000.00 2.25 10 $567 $46 $204.90
3 6/19/2014 Chad&Jayme Swenson ER-1 602 Gates Ave.NW 7/14/2014 completed $25,000.00 3.25 15 $567 $46 $175.67
6 3/16/2015 Barbara&Jerome Oleson ER-6 420 Main St.NW 3/18/2015 waiting to record documents $24,377 3.25 15 $567 $46 $171.29
Projects Under Construction
App.Date Name Project# Home Address Date Current Status Loan amount Loan rate Loan term Lead Paint Recording Monthly
Approved inspect. Fees Payment
5 3/26/2015 Jon&Ann Jungers ER-7 928 Main St.NW 3/30/2015 Under construction $24,900.00 3.25 15 $567 $46 $174.96
8 4/9/2015 Samuel&Audrey Mahon ER-9 501 6th St.NW 4/9/2015 Under construction $6,437.00 1.25 5 $567 $46 $110.73
Projects Ready for Construction
App.Date 'Name Project# Home Address Date Current Status Loan amount Loan rate Loan term Lead Paint Recording Monthly
Approved inspect. Fees Payment
Projects Bidding/Waiting for Approved Scope
App.Date Name Project# Home Address Date Current Status Loan amount Loan rate Loan term Lead Paint Recording Monthly
Approved inspect. Fees Payment
7 3/27/2015 Kara&Joe Holman ER-8 1028 Main St.NW 3/31/2015 holding off at owner's request $567
6/5/2015 Matt&Carol Hicks ER-10 1205 4th St.NW 6/5/2015 waiting for bids to be returned $567
Approved Applications
App.Date 'Name Project# Home Address Date Current Status Loan amount Loan rate Loan term Lead Paint Recording Monthly
Approved inspect. Fees Payment
Applications in Process
App.Date IName I IHome Address
Three year total rehab funds below:
$255,000 l
Total loan amounts/rehab funds: $142,021 Total LBP: $4,536
Rehab balance: $108,443