7.1. HRSR 01-02-2018
Request for Action
To Item Number
Housing and Redevelopment Authority 7.1
Agenda Section Meeting Date Prepared by
General Business January 2, 2018 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 HRA Housing Rehabilitation Loan Program
Background/Discussion
Currently, there is one project under construction.
Fourteen projects have been completed to date. Over $311,579 will soon be disbursed over the four-year
rehabilitation program period. Monthly installment payments are received per the agreements.
Staff sent holiday cards to homeowners in the targeted area and advertised for seven weeks in the Star
News. Staff looks forward to coordinating an informational session in the spring with CMHP.
Financial Impact
N/A
Attachments
January Project/Financial Report
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
2018 Elk River HRA Homeowner Rehab Program Monthly Project and Financial Report January 2018
Updated: 12/4/17
Completed Projects
NameProject #
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
Approvedterminspect.FeesPayment
1
8/27/2014Shawn & Deborah MenningER-4525 8th St. NW8/27/2014completed$18,657.002.25%10$567$46$173.77
2$192.33
8/28/2014Marlin & Vicky StimpsonER-5606 Jefferson Lane NW2/23/2015completed$20,650.002.25%10$0$46
3Scott & Cindi ThompsonER-31021 4th St. NW
8/21/20148/27/2014completed$22,000.002.25%10$915$46$204.90
4$25,000.003.25%15$175.67
6/19/2014Chad & Jayme SwensonER-1602 Gates Ave. NW7/14/2014completed$915$46
completed
53.25%15
3/16/2015Barbara & Jerome OlesonER-6420 Main St. NW3/18/2015$25,000$915$46$171.29
completed
6
4/9/2015Samuel & Audrey MahonER-9501 6th St. NW4/9/2015$5,837.001.25%5$915$46$100.41
73/26/2015Jon & Ann JungersER-7928 Main St. NW3/30/20153.25%15$174.84
completed$24,881.69$567$46
completed
86/5/2015Matt & Carol HicksER-101205 4th St. NW6/5/2015$25,000.003.25%15$915$46$175.67
7/14/2016Erin & Tracy CunninghamER-111420 5th St. NW7/19/2016completed$22,069.002.50%10$0.00$46.00$208.04
9
completed
1012/19/2016Nichol & Andrew HansonER-16319 2ns St. NW12/20/2016$25,000.003.00%10$400.00$46.00$241.40
3.50%
117/22/2016William & Denise HoopsER-12806 Holt Ave NW completed$24,645.0015$46.00$176.18
8/1/2016$567.00
completed
128/22/2016Scot & Kristen SandhoefnerER-15703 Jackson Ave NW9/7/2016$25,000.002.75%10$750.00$46.00$238.53
13$159.79
8/15/2016Larry & Nancy KriegER-14609 Gates Ave NW8/19/2016completed$19,665.00 2.75%10$596.00$46.00
completed
144/13/2017Linda & Daniel McClellanER-17810 Jackson Ave NW4/21/2017$6,534.005$650.00$46.00$115.24
2.25%
Projects Under Construction
NameProject #
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
Approvedterminspect.FeesPayment
7/25/2017Kyle & Jennifer TorfinER-181811 Main St. NW7/31/2017sent Notice to Proceed 11/28$21,640.004.25%15$400.00$46.00$162.79
15
Projects Ready for Construction
NameProject #
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
Approvedterminspect.FeesPayment
Projects Bidding/Waiting for Approved Scope
NameProject #
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
Approvedterminspect.FeesPayment
Approved Applications
NameProject #
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
Approvedterminspect.FeesPayment
Projects Closed Applications
NameProject #
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
Approvedterminspect.FeesPayment
closed application at Dianna's request 9/28
8/24/2017Dianna AndersonER-18430 Rush Ave NW8/29/2017
file closed on 2/8/16
3/27/2015Kara & Joe HolmanER-81028 Main St. NW3/31/2015$567
8/20/2014Lisa ConwayER-2236 Norfolk Ave. NW8/21/2014lost contact closed 2/11/15$567
8/5/16David & Laura HartfielER-131017 Main St. NWDave asked to cancel his application 9/23/16
8/9/2016
Applications in Process
Name
App. DateHome Address
Four year total rehab funds below:
$382,500
HRA added $50,000 to rehab fund
Total loan amounts/rehab funds:
Total LBP:
$311,579$10,206
Rehab balance:
$60,715
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