7.1. HRSR 08-05-2019Request for Action
To Item Number
Housing and Redevelopment Authority 7.1
Agenda Section Meeting Date Prepared by
General Business August 5, 2019 Amanda Othoudt, EDD
Item Description Reviewed by
HRA Housing Rehabilitation Loan Program Update Cal Portner, City Administrator
Reviewed by
Action Requested
Receive update on the Rehabilitation Loan Program.
Background/Discussion
The Center for Energy and Environment (CEE) has received 11 requests for information on the HRA
Rehabilitation Loan Program since taking over the program in February and has 5 applications currently
in process. Two applications were closed and funded earlier this month.
Our Aging Delinquency Report shows one loan delinquent. One borrower is 90+ days past due.
Attempts are being made by both CEE and staff to work with the homeowner to get their account
current.
Financial Impact
The total 2019 program budget is $117,854.
Attachments
CEE Monthly Loan Reports
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
REPORT TYPE:PARTIAL TRIAL BALANCE REPORT SUMMARY
REPORT DATE:7/30/2019
REPORT PERIOD:Jul-19
INVESTOR:ELK RIVER
TRIAL BALANCE PER POOL AS OF 7/30/2019
POOL LOAN COUNT LOAN VOLUME UNPAID PRN BAL
HRA REHAB 15 304,949.22$ 250,384.66$
Grand Total 15 304,949.22$ 250,384.66$
TRIAL BALANCE SUMMARY PER LOAN AS OF 7/30/2019
LOAN #POOL BORROWER ADDRESS CONTRACT DATE INT RATE LOAN AMOUNT UNPAID PRN BAL
19-015204 HRA REHAB TRACY CUNNINGHAM 1420 5TH ST NW 1/25/2017 2.50 22,069.00$ 17,004.83$
19-015206 HRA REHAB JESSICA GADACH 870 VERNON AVE 12/27/2018 4.00 25,000.00$ 22,766.90$
19-015207 HRA REHAB MATT HICKS 1205 4TH ST NW 3/13/2016 3.25 25,000.00$ 20,938.70$
19-015208 HRA REHAB WILLIAM HOOPS 806 HOLT AVE NW 9/10/2017 3.50 24,645.00$ 22,165.01$
19-015209 HRA REHAB LARRY KRIEG 609 GATES AVE NW 9/22/2017 2.75 19,665.00$ 16,358.50$
19-015210 HRA REHAB SAMUEL MAHON 501 6TH ST 10/22/2015 1.25 5,837.00$ 1,494.37$
19-015211 HRA REHAB LINDA MCCLELLAN 810 JACKSON AVE NW 10/31/2017 2.25 6,534.00$ 4,437.31$
19-015212 HRA REHAB SHAWN MENNING 525 8TH ST NW 8/3/2015 2.25 18,657.00$ 11,856.47$
19-015213 HRA REHAB JEROME OLESEN 420 MAIN ST 9/2/2015 3.25 25,000.00$ 19,748.87$
19-015214 HRA REHAB SCOT SANDHOEFNER 730 JACKSON AVE NW 8/2/2017 2.75 25,000.00$ 20,450.92$
19-015215 HRA REHAB MARLIN STIMPSON 606 JEFFERSON LN NW 8/3/2015 2.25 20,650.00$ 12,932.94$
19-015216 HRA REHAB CHAD SWENSON 602 GATES AVE NW 9/3/2015 3.25 25,000.00$ 19,508.15$
19-015217 HRA REHAB KYLE TORFIN 1811 MAIN ST 5/4/2018 4.25 21,640.00$ 20,469.47$
19-016434 HRA REHAB MEGAN L HAUK 19135 TROY STREET NW 7/5/2019 4.00 25,000.00$ 25,000.00$
19-016564 HRA REHAB JUDITH M WEBER 403 3RD ST NW 7/15/2019 4.00 15,252.22$ 15,252.22$
304,949.22$ 250,384.66$
YEAR TO DATE COMPARATIVE RESULTS
REPORTED MONTH LOAN COUNT UNPAID PRN BAL
Jan-19 0 -$
Feb-19 0 -$
Mar-19 13 217,879.74$
Apr-19 13 216,152.69$
May-19 13 214,286.75$
Jun-19 13 212,628.05$
Jul-19 15 250,384.66$
DocuSign Envelope ID: F5139E34-B063-4238-A8E6-2B3FFE8A8DA7
CEE SERVICINGREPORT TYPE: PARTIAL TRIAL BALANCE REPORT DETAILREPORT DATE: 7/30/2019REPORT PERIOD: Jul-19INVESTOR: ELK RIVERACCOUNT DETAIL FOR ACTIVE LOANS AS OF 7/30/2019LOAN #PORTFOLIOPOOLBORROWERADDRESSCITYSTATEZIP CODEINT RATECONTRACTMATURITYLOAN AMOUNTTERMUNPD PRN BALRMNG TERM19-015204 ELK RIVER RESIDENTIAL HRA REHAB TRACY CUNNINGHAM 1420 5TH ST NW ELK RIVER MN 55330 2.50 1/25/2017 1/1/2027 22,069.00$ 120 17,004.83$ 9019-015206 ELK RIVER RESIDENTIAL HRA REHAB JESSICA GADACH 870 VERNON AVE ELK RIVER MN 55330 4.00 12/27/2018 8/1/2028 25,000.00$ 120 22,766.90$ 10919-015207 ELK RIVER RESIDENTIAL HRA REHAB MATT HICKS 1205 4TH ST NW ELK RIVER MN 55330 3.25 3/13/2016 3/1/2031 25,000.00$ 180 20,938.70$ 14019-015208 ELK RIVER RESIDENTIAL HRA REHAB WILLIAM HOOPS 806 HOLT AVE NW ELK RIVER MN 55330 3.50 9/10/2017 9/1/2032 24,645.00$ 180 22,165.01$ 15819-015209 ELK RIVER RESIDENTIAL HRA REHAB LARRY KRIEG 609 GATES AVE NW ELK RIVER MN 55330 2.75 9/22/2017 9/1/2027 19,665.00$ 120 16,358.50$ 9819-015210 ELK RIVER RESIDENTIAL HRA REHAB SAMUEL MAHON 501 6TH ST ELK RIVER MN 55330 1.25 10/22/2015 11/1/2020 5,837.00$ 60 1,494.37$ 1619-015211 ELK RIVER RESIDENTIAL HRA REHAB LINDA MCCLELLAN 810 JACKSON AVE NW ELK RIVER MN 55330 2.25 10/31/2017 11/1/2022 6,534.00$ 60 4,437.31$ 4019-015212 ELK RIVER RESIDENTIAL HRA REHAB SHAWN MENNING 525 8TH ST NW ELK RIVER MN 55330 2.25 8/3/2015 8/1/2025 18,657.00$ 120 11,856.47$ 7319-015213 ELK RIVER RESIDENTIAL HRA REHAB JEROME OLESEN 420 MAIN ST ELK RIVER MN 55330 3.25 9/2/2015 9/1/2030 25,000.00$ 180 19,748.87$ 13419-015214 ELK RIVER RESIDENTIAL HRA REHAB SCOT SANDHOEFNER 730 JACKSON AVE NW ELK RIVER MN 55330 2.75 8/2/2017 8/1/2027 25,000.00$ 120 20,450.92$ 9719-015215 ELK RIVER RESIDENTIAL HRA REHAB MARLIN STIMPSON 606 JEFFERSON LN NW ELK RIVER MN 55330 2.25 8/3/2015 8/1/2025 20,650.00$ 120 12,932.94$ 7319-015216 ELK RIVER RESIDENTIAL HRA REHAB CHAD SWENSON 602 GATES AVE NW ELK RIVER MN 55330 3.25 9/3/2015 9/1/2030 25,000.00$ 180 19,508.15$ 13419-015217 ELK RIVER RESIDENTIAL HRA REHAB KYLE TORFIN 1811 MAIN ST ELK RIVER MN 55330 4.25 5/4/2018 5/1/2033 21,640.00$ 180 20,469.47$ 16619-016434 ELK RIVER RESIDENTIAL HRA REHAB MEGAN L HAUK 19135 TROY STREET NW ELK RIVER MN 55330 4.00 7/5/2019 7/5/2034 25,000.00$ 180 25,000.00$ 18019-016564 ELK RIVER RESIDENTIAL HRA REHAB JUDITH M WEBER 403 3RD ST NW ELK RIVER MN 55330 4.00 7/15/2019 7/15/2029 15,252.22$ 120 15,252.22$ 120304,949.22$ 250,384.66$ DocuSign Envelope ID: F5139E34-B063-4238-A8E6-2B3FFE8A8DA7
CEE SERVICINGREPORT TYPE:PARTIAL NEW LOAN REPORTREPORT DATE:7/30/2019REPORT PERIOD:Jul-19INVESTOR:ELK RIVERNEW LOAN DETAIL PER ACCOUNT AS OF 7/30/2019LOAN #PORTFOLIOPOOLBORROWERADDRESSCNTRCT DATEINT RATETERMLOAN AMNT19-016434ELK RIVER RESIDENTIALHRA REHABMEGAN L HAUK19135 TROY STREET NW7/5/20194.0018025,000.00$ 19-016564ELK RIVER RESIDENTIALHRA REHABJUDITH M WEBER403 3RD ST NW7/15/20194.0012015,252.22$ NEW LOAN DETAIL PER POOL AS OF 7/30/2019POOLLOAN COUNTTOTAL AMOUNTHRA REHAB240,252.22$ Grand Total240,252.22$ DocuSign Envelope ID: F5139E34-B063-4238-A8E6-2B3FFE8A8DA7
CEE SERVICINGREPORT TYPE:PARTIAL AGING DELINQUENCY REPORTREPORT DATE:7/30/2019REPORT PERIOD:Jul-19INVESTOR:ELK RIVERAGING DELINQUENCY DETAIL PER ACCOUNT AS OF 7/30/2019LOAN #BORROWERUNPD PRN BALDPDTOTAL DUE1 TO 15 DPD15+ DPD30+ DPD60+ DPD90+ DPDSTATUSLAST PMNT DATELAST PMNT AMNT19-015204TRACY CUNNINGHAM17,004.83$ 0-$ -$ -$ -$ -$ -$ Current Loan7/20/2019208.04$ 19-015206JESSICA GADACH22,766.90$ 0-$ -$ -$ -$ -$ -$ Current Loan7/30/2019400.00$ 19-015207MATT HICKS20,938.70$ 139755.73$ -$ 175.67$ 175.67$ 175.67$ 228.72$ 90+ DPD7/26/201920.00$ 19-015208WILLIAM HOOPS22,165.01$ 0-$ -$ -$ -$ -$ -$ Current Loan7/5/2019200.00$ 19-015209LARRY KRIEG16,358.50$ 0-$ -$ -$ -$ -$ -$ Current Loan7/10/2019187.63$ 19-015210SAMUEL MAHON1,494.37$ 0-$ -$ -$ -$ -$ -$ Current Loan7/25/2019100.41$ 19-015211LINDA MCCLELLAN4,437.31$ 0-$ -$ -$ -$ -$ -$ Current Loan7/2/2019115.24$ 19-015212SHAWN MENNING11,856.47$ 0-$ -$ -$ -$ -$ -$ Current Loan7/15/2019173.77$ 19-015213JEROME OLESEN19,748.87$ 0-$ -$ -$ -$ -$ -$ Current Loan7/15/2019351.34$ 19-015214SCOT SANDHOEFNER20,450.92$ 0-$ -$ -$ -$ -$ -$ Current Loan7/19/2019250.00$ 19-015215MARLIN STIMPSON12,932.94$ 0-$ -$ -$ -$ -$ -$ Current Loan7/22/2019192.33$ 19-015216CHAD SWENSON19,508.15$ 0-$ -$ -$ -$ -$ -$ Current Loan7/30/2019180.00$ 19-015217KYLE TORFIN20,469.47$ 0-$ -$ -$ -$ -$ -$ Current Loan7/30/2019162.79$ 19-016434MEGAN L HAUK25,000.00$ 0-$ -$ -$ -$ -$ -$ Current Loan-$ 19-016564JUDITH M WEBER15,252.22$ 0-$ -$ -$ -$ -$ -$ Current Loan-$ 250,384.66$ 755.73$ -$ 175.67$ 175.67$ 175.67$ 228.72$ DocuSign Envelope ID: F5139E34-B063-4238-A8E6-2B3FFE8A8DA7