7.1. HRSR 09-04-2018Request for Action
To Item Number
Housing and Redevelopment Authority 7.1
Agenda Section Meeting Date Prepared by
General Business September 4, 2018 Amanda Othoudt, EDD
Item Description Reviewed by
HRA Rehabilitation Program Update Cal Portner, City Administrator
Reviewed by
Action Requested
Receive information on the HRA Housing Rehabilitation Loan Program.
Background/Discussion
Currently, two projects are under way; one homeowner is in the process of selecting a contractor bid and
the other is in the process of signing the contract and loan documents.
Fifteen projects have been completed to date. Over $311,579 has been disbursed over the four-year
rehabilitation program period. Installment payments are received per the agreements. The balance of
Rehab Fund is $145,290.
Marketing efforts continue on our social media platforms.
Financial Impact
N/A
Attachments
August Project/Financial Report
HRA Loan Installment 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 Report September 2018
Updated:8/23/18
Completed Projects
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
NameProject #
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
6completed
4/9/2015Samuel & Audrey MahonER-9501 6th St. NW4/9/2015$5,837.001.25%5$46$100.41
$915
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
7/14/20161420 5th St. NW7/19/2016completed$22,069.002.50%10$0.00$46.00$208.04
9 Erin & Tracy CunninghamER-11
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
8/15/2016609 Gates Ave NW8/19/2016completed$19,665.00 2.75%10$596.00$46.00
Larry & Nancy KriegER-14
completed
144/13/2017Linda & Daniel McClellanER-17810 Jackson Ave NW4/21/2017$6,534.005$650.00$46.00$115.24
2.25%
7/25/20171811 Main St. NW7/31/2017completed $21,640.004.25%15$46.00$162.79
Kyle & Jennifer TorfinER-18$400.00
15
Projects Under Construction
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
NameProject #
Approvedterminspect.FeesPayment
Projects Ready for Construction
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
NameProject #
Approvedterminspect.FeesPayment
Projects Bidding/Waiting for Approved Scope
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
NameProject #
Approvedterminspect.FeesPayment
$0
5/16/20181837 8th St. NWwaiting for contracts/loan docs to be signed 8/21
Lea RaduenzER-205/17/2018
16
$425
4/26/2018870 Vernon Avewaiting for owner to select a bid 8/21
Jessica & Lynn GadachER-216/1/2018
17
Approved Applications
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
NameProject #
Approvedterminspect.FeesPayment
Projects Closed Applications
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
NameProject #
Approvedterminspect.FeesPayment
closed application at Dianna's request 9/28
8/24/2017Dianna AndersonER-18430 Rush Ave NW8/29/2017
8/5/16David & Laura HartfielER-131017 Main St. NWDave asked to cancel his application 9/23/16
8/9/2016
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
Applications in Process
App. DateHome Address
Name
mailed app. to Jacky Kuykendall 7/24/18816 Jackson Ave NW
Five year total rehab funds below:
$467,500
Total
$311,579$10,631
Total loan amounts/rehab funds:LBP:
Rehab balance:
$145,290
ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY
REHABILITATION LOAN PROGRAM
Report Dated : August 29, 2018
Loan Monthy
Maturity
BorrowerLoan AmountOrigination Payment CurrentLoan Balance
Date
DateAmount
Cunningham $ 19,234.72
1420 5th Street NW$ 22,069.002/1/20171/1/2027$ 208.04N
Hanson $ -
319 - 2nd Street NW$ 25,000.008/1/20178/1/2027$ 241.40
Hicks $ 21,681.19
1205 4th St NW$ 25,000.00 4/1/20163/1/2031$ 175.67Y
Hoops $ 24,645.00 10/1/201710/1/2032Y $ 23,373.12
806 Holt Avenue NW$ 176.18
Krieg $ 19,665.00 10/1/201710/1/2027Y $ 18,095.43
609 Gates Avenue NW$ 187.63
Mahon $ 2,574.05
501 - 6th Street$ 5,837.00 12/1/201511/1/2020$ 100.41Y
McClellan $ 6,534.00 12/1/201712/1/2022Y $ 5,600.10
810 Jackson Ave NW$ 115.24
Menning $ 13,492.66
525 - 8th St NW$ 18,657.00 9/1/20158/1/2025$ 173.77Y
Olesen $ 21,042.48
420 Main St$ 25,000.00 10/1/20159/1/2030$ 171.29Y
Sandhoefner $ 25,000.00 9/1/20179/1/2027Y $ 22,611.25
730 Jackson Ave NW$ 238.53
Stimpson $ -
606 Jefferson Lane NW$ 20,650.00 9/1/20158/1/2025$ 192.33
Swenson $ 20,980.09
602 Gates Ave NW$ 25,000.00 10/1/20159/1/2030$ 175.67Y
Totals$ 243,057.00$ 2,156.16$ 168,685.10