7.1 HRSR 08-01-2016 hof'');(1 .,
1 . Request for Action
River
To Item Number
Housing and Redevelopment Authority 7.1
Agenda Section Meeting Date Prepared by
General Business August 1,2016 Colleen Eddy, Economic Development Specialist
Item Description Reviewed by
HRA Housing Rehabilitation Loan Program Update Amanda Othoudt, EDD
Reviewed by
Cal Portner, City Administrator
Action Requested
Receive information on the Housing Rehabilitation Program.
Background/Discussion
An article about the rehabilitation loan program was included in the summer edition of The Current,the
city's newsletter.The article increased interest in the program as two new applications are in process. Staff
continues to work with CMHP who will be facilitating an informational meeting on August 17.
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.
Staff has contacted Joni from the Star News,who will be writing an article for the newspaper. She will
interview homeowners who have participated in the program along with staff from Central Minnesota
Housing Partnership (CMHP).
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
• August 2016 HRA Rehab Report
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i:2014 Elk R,veri-ipj Homeowner Rehab Pro rata Mon
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U.dated:7/25116
Completed Projects
App.Date Name Project# Home Address Date Current Status
Loan amount Loan rate Loan term
A••roved
2 8/27/2014 Shawn&Deborah Menning ER-4 525 8th St. NW 8/27/2014 com•feted
4 8/28/2014 Marlin&Vick Stun•son ER-5 606 Jefferson Lane NW ..�,.. $18 657.00 2.25 10
2123/2015 completed $20,650.00 2.25 10
1 8/21/2014 Scott&Cindi Thom•son ER-3 1021 4th St. NW 8/27/2014 completed
3 6!19/2014 Chad&Ja me Swenson ER-1 602 Gates Ave. NW $22,000.00 2.25 10
7/14121714 completed _.... .$25,000.00 J3.25 15
6 3/16/2015 Barbara&Jerome Oleson ER-6 420 Main St. NW 3/18/2015 corn•leted
8 4/9/2015 Samuel&Audrey Mahon ER-9 501 6th NW .•..--...- $25,0{0 13.25 ,15
St. W 4/9/2015 corn•feted $5,837.00 1.25 5
5 3/2612015 Jon&Ann Jun•ers ER-7 928 Main St,NW 3/3012015 com•feted
9 615/2015 Matt&Carol Hicks ER-10 1205 4th St NW _ comp �*; $24 881.69 3.25 15
6/5/2015 mp e
$25 000.00 3.25 15
Projects Under Construction
I App.Date Name Project# Home Address Date Current Status
Loan amount Loan rate Loan term
Approved
Projects Read for Construction -
App.Date Name Project# Home Address Date Current Status Loan amount'Loan
• rate Loan term
Approved
Projects E3idding/Waiting for A roved Scope -•-
App.Date Name Project# Home Address Date Current Status
Loan amount Loan rate Loan term
Approved
7[3/27/2015 Kara&Joe Holman ER-8 1028 Main St. NW
3/31/2015 Mile closed on 218116
Approved Applications
App.Date Name Project# Home Address -Date Current Status
Loan amount Loan rate Loan term
Approved
L7/14/2016 Erin&Tracy Cunningham ER-11 1420 5th St.NW 7/19/2016 irt•i
ai approval letter ier sent 7!24!16•A• •lications in Process
App.Date Name Home Address --
U 7/22/2016 William&Denise Hoo•s 806 Holt Ave NW
Three year total rehab funds below:
$255,000
Total loan amountslrehab funds: $161,026 Total LBP:
Rehab balance:
Lead Paint 'Recording Monthly
inspect. Fees 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 _J
Lead Paint Recording Monthly
inspect. Fees Payment _
Lead Paint Recording Monthly
,inspect. Fees Payment
Lead Paint Recording Monthly
inspect. Fees Payment
,$567
1
Lead Paint Recording Monthly
inspect. Fees Payment
L I
r
T 1
$6,276