7.1. HRSR 12-03-2018
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
Request for Action
To
Housing and Redevelopment Authority
Item Number
7.1
Agenda Section
General Business
Meeting Date
December 3, 2018
Prepared by
Colleen Eddy, Economic Development Specialist
Item Description
HRA Rehabilitation Program Update
Reviewed by
Amanda Othoudt, EDD
Reviewed by
Cal Portner, City Administrator
Action Requested
Receive information on the HRA Housing Rehabilitation Loan Program.
Background/Discussion
Fifteen projects have been completed to date. One project started last month. Over $336,579 has been
disbursed over the four-year rehabilitation program period. Installment payments are received per the
agreements.
We continue to market the program and are in the process of updating the HRA video. Staff is also
working with Elk River Star News on an ad that will run the next five weeks.
Financial Impact
N/A
Attachments
HRA Loan Program Report
November HRA Project and Financial Update
., central minnesota
• • HOUSING PARTNERSHIP
November 28 h, 2018
City of Elk River
Attn: Colleen Eddy
13065 Orono Parkway
Elk River, MN 55330
RE: City of Elk River HRA Homeowner Rehabilitation Program
Materials for the December 3rd, 2018 HRA Meeting.
Dear Colleen:
37 28th Avenue North Suite 102
St. Cloud, MN 56303-4242
Phone: 320.259.0393
Fax: 320.259.9590
www.cmhp.net
Enclosed are the following items for the Elk River HRA meeting on Monday December 3rd
0 Monthly program progress report with revisions,
Thank you,
(�5
Ed Z'
Program Manager
Enclosure
Cc: file
A MINNESOTA * Q MN TDD 71 1
NONPROFIT CORPORATION EOUAL OPPORTUNITY EMPLOYER
2018 Elk River HRA Homeowner Rehab Project and Financial Monthly Report November 2018
Updated: 11/5/18
Completed Projects
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Date Monthly
NameProject #
Approvedterminspect.FeescompletedPayment
1
8/27/2014Shawn & Deborah MenningER-4525 8th St. NW8/27/2014completed$18,657.002.25%10$567$467/31/2015$173.77
2$192.33
8/28/2014Marlin & Vicky StimpsonER-5606 Jefferson Lane NW2/23/2015completed$20,650.002.25%10$0$469/2/2015
3
Scott & Cindi ThompsonER-31021 4th St. NW
8/21/20148/27/2014completed$22,000.002.25%10$915$469/3/2015$204.90
4$25,000.003.25%15$175.67
9/24/2015
6/19/2014Chad & Jayme SwensonER-1602 Gates Ave. NW7/14/2014completed$915$46
5completed 3.25%1510/19/2015
3/16/2015Barbara & Jerome OlesonER-6420 Main St. NW3/18/2015$25,000$915$46$171.29
6
completed
4/9/2015Samuel & Audrey MahonER-9501 6th St. NW4/9/2015$5,837.001.25%5$915$4612/1/2015$100.41
73.25%15$174.84
3/26/2015Jon & Ann JungersER-7928 Main St. NW3/30/20152/19/2016
completed$24,881.69$567$46
8completed$25,000.00
6/5/2015Matt & Carol HicksER-101205 4th St. NW6/5/20153.25%15$915$464/11/2016$175.67
2/6/2017
97/14/2016Erin & Tracy CunninghamER-111420 5th St. NW7/19/2016completed$22,069.002.50%10$0.00$46.00$208.04
10completed
12/19/2016Nichol & Andrew HansonER-16319 2ns St. NW12/20/2016$25,000.003.00%10$400.00$46.008/14/2017$241.40
113.50%
7/22/2016William & Denise HoopsER-12806 Holt Ave NW completed$24,645.0015$46.009/13/2017$176.18
8/1/2016$567.00
12completed
8/22/2016Scot & Kristen SandhoefnerER-15703 Jackson Ave NW9/7/2016$25,000.002.75%10$750.00$46.009/25/2017$238.53
13
11/10/2017$159.79
8/15/2016Larry & Nancy KriegER-14609 Gates Ave NW8/19/2016completed$19,665.00 2.75%10$596.00$46.00
14completed
4/13/2017Linda & Daniel McClellanER-17810 Jackson Ave NW4/21/2017$6,534.005$650.00$46.00$115.24
2.25%12/4/2017
7/25/2017Kyle & Jennifer TorfinER-181811 Main St. NW7/31/2017completed $21,640.004.25%15$400.00$46.005/18/2018$162.79
15
Projects Under Construction
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Date Monthly
NameProject #
Approvedterminspect.FeescompletedPayment
4/26/2018Jessica & Lynn GadachER-21870 Vernon Ave6/1/2018Notice to proceed sent 9/24$25,000.004.00%10$425$46.00$253.11
17
Projects Ready for Construction
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Date Monthly
NameProject #
Approvedterminspect.FeescompletedPayment
Projects Bidding/Waiting for Approved Scope
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Date Monthly
NameProject #
Approvedterminspect.FeescompletedPayment
5/16/2018Lea RaduenzER-201837 8th St. NW5/17/2018Lea requested to put process on hold may be $0
16
ready to move forward in December
Approved Applications
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Date Monthly
NameProject #
Approvedterminspect.FeescompletedPayment
Projects Closed Applications
App. DateHome AddressDate Current StatusLoan amountLoan rateLoan Lead Paint Recording Monthly
NameProject #
Approvedterminspect.FeesPayment
closed application at Dianna's request 9/28/17
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 NWFour year program allocation $350,000
Designated program funds
30-Oct-18
admin fees$63,750Admin fees paid to CMHP
Lead base paint fees$10,631paid out for lead base paint assessments
Program balance$275,619
BorrowerPrincipalInterest
Cunningham$3,516.12$892.88
Hanson$25,000.00$688.13Principle$201,328Outstanding loan funds
Hicks$3,440.09$1,898.01
Hoops$1,488.21$978.33
Jungers$24,881.69$472.15
Krieg$1,886.99$560.60
Available to loan$74,291Total funds to be loaned out
Mahon$3,458.51$156.25
McClellan$1,143.58$124.08
Menning$5,461.56$1,142.16
Olesen$4,195.20$2,304.19
Sandhoefner$2,762.60$815.33
Stimpson$6,044.35$1,264.19
Swenson$4,258.59$2,302.42
Thompson$22,000.00$307.97
Torfin$433.81$380.15
$109,971.29$14,286.84
$124,258.13
Total principal and interest received to date