7.1. HRSR 07-05-2016
Request for Action
To
Housing and Redevelopment Authority
Item Number
7.1
Agenda Section
General Business
Meeting Date
July 5, 2016
Prepared by
Colleen Eddy, Economic Development Specialist
Item Description
HRA Housing Rehabilitation Loan Program Update
Reviewed by
Amanda Othoudt, EDD
Reviewed by
Cal Portner, City Administrator
Action Requested
Receive information on the Housing Rehabilitation Program.
Background/Discussion
Eight projects have been completed to date. Over $167, 044 has been disbursed over the three-year
rehabilitation program period. Monthly installment payments are being received on a consistent basis.
CMHP installed yard signs in front of two homes which we hope draws more attention to the program.
Staff is coordinating informational meetings on July 27 and August 17 and revising the mailing list to
include more owner/occupied homeowners. A direct mailing will be sent to all the homeowners located
in the targeted area. An article about the rehabilitation loan program is also included in the summer
edition of The Current, the city’s newsletter, which will be sent out early July.
The video production has been put on hold due to some issues with the video equipment. However staff
is shooting to have the video completed in time to view at the August informational meeting.
Financial Impact
N/A
Attachments
July 2016 HRA Rehab Report
App. Date Name Project #Home Address Date
Approved
Current Status Loan amount Loan rate Loan term
2 8/27/2014 Shawn & Deborah Menning ER-4 525 8th St. NW 8/27/2014 completed $18,657.00 2.25 10
4 8/28/2014 Marlin & Vicky Stimpson ER-5 606 Jefferson Lane NW 2/23/2015 completed $20,650.00 2.25 10
1 8/21/2014 Scott & Cindi Thompson ER-3 1021 4th St. NW 8/27/2014 completed $22,000.00 2.25 10
3 6/19/2014 Chad & Jayme Swenson ER-1 602 Gates Ave. NW 7/14/2014 completed $25,000.00 3.25 15
6 3/16/2015 Barbara & Jerome Oleson ER-6 420 Main St. NW 3/18/2015 completed $25,000 3.25 15
8 4/9/2015 Samuel & Audrey Mahon ER-9 501 6th St. NW 4/9/2015 completed $5,837.00 1.25 5
5 3/26/2015 Jon & Ann Jungers ER-7 928 Main St. NW 3/30/2015 completed $24,881.69 3.25 15
9 6/5/2015 Matt & Carol Hicks ER-10 1205 4th St. NW 6/5/2015 completed $25,000.00 3.25 15
App. Date Name Project #Home Address Date
Approved
Current Status Loan amount Loan rate Loan term
App. Date Name Project #Home Address Date
Approved
Current Status Loan amount Loan rate Loan term
App. Date Name Project #Home Address Date
Approved
Current Status Loan amount Loan rate Loan term
7 3/27/2015 Kara & Joe Holman ER-8 1028 Main St. NW 3/31/2015 file closed on 2/8/16
App. Date Name Project #Home Address Date
Approved
Current Status Loan amount Loan rate Loan term
App. Date Name Home Address
Three year total rehab funds below:
$255,000
Total loan amounts/rehab funds:$167,026 Total LBP:
Rehab balance:$81,698
Approved Applications
Applications in Process
Projects Bidding/Waiting for Approved Scope
2014 Elk River HRA Homeowner Rehab Program Monthly Report July 2016
Updated: 6/27/16
Completed Projects
Projects Under Construction
Projects Ready for Construction
Lead Paint
inspect.
Recording
Fees
Monthly
Payment
$567 $46 $173.77
$0 $46 $192.33
$915 $46 $204.90
$915 $46 $175.67
$915 $46 $171.29
$915 $46 $100.41
$567 $46 $174.84
$915 $46 $175.67
Lead Paint
inspect.
Recording
Fees
Monthly
Payment
Lead Paint
inspect.
Recording
Fees
Monthly
Payment
Lead Paint
inspect.
Recording
Fees
Monthly
Payment
$567
Lead Paint
inspect.
Recording
Fees
Monthly
Payment
$6,276