6.1. HRSR 07-05-2022
Request for Action
To Item Number
Housing and Redevelopment Authority 6.1
Agenda Section Meeting Date Prepared by
General Business July 5, 2022 Joshua Mollan, Economic Development Specialist
Item Description Reviewed by
HRA Housing Rehabilitation Loan Program Update Brent O’Neil, Economic Development Director
Reviewed by
Cal Portner, City Administrator
Action Requested
Receive updates on the Rehabilitation Loan Program.
Background/Discussion
Minnesota Center for Energy and Environment (CEE) reports all accounts are current and the HRA’s portfolio
is performing as expected with no delinquencies or late payments. There have been no new loans issued this
period and $150,000 remains available for new loan disbursements.
Following feedback from the HRA, staff plans to partner with ERMU on print mailers to accompany utility
bills for energy efficiency and weatherization-related uses of the program, as well as place web banner ads on
the Star News webpage for several consecutive weeks starting in July.
Financial Impact
N/A
Mission/Policy/Goal
The goal of the HRA is to improve existing housing stock by offering incentives or programs to repair and
maintain residential properties.
Attachments
CEE Monthly Loan Activity Report
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
CITY OF ELK RIVER
LOAN SERVICING REPORT
OPERATIONAL RESULTS
MAY 2022
Data set: June 1st, 2022
LOAN SERVICING DEPARTMENT
DocuSign Envelope ID: 77E0DBD4-9E33-4ABD-A197-18CC7D84206C
Pg. 2
Table of Contents
•Dashboard
•Invoice Report
•Trial Balance Summary
•Trial Balance Detail
•Aging Delinquency Report
DocuSign Envelope ID: 77E0DBD4-9E33-4ABD-A197-18CC7D84206C
CEE SERVICING
REPORT TYPE:LOAN SERVICING DASHBOARD
DATA SET DATE:6/1/2022
REPORTING PERIOD:May-22
INVESTOR:CITY OF ELK RIVER
CASH PROCESSING RESULTS AS OF MAY 31, 2022
OPERATIONAL RESULTS AS OF MAY 31, 2022
6 6 6 6 6 6
5
5
5
6
6
6
6
Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22
6 MONTH LOAN COUNT COMPARISON
$69,196.84$69,941.48$71,041.78$72,155.43$73,243.58$74,338.18May-22Apr-22Mar-22Feb-22Jan-22Dec-21
UNPAID PRINCIPAL BALANCE 6 MONTH COMPARISON
$7,029.45
$10,931.06
$11,057.31
$11,482.06
$11,531.38
$17,165.58
$0.00 $5,000.00 $10,000.00 $15,000.00 $20,000.00
19-015215
19-015204
19-015209
19-015206
19-016564
19-015217
MAY 2022 UNPAID PRINCIPAL BALANCE
DISTRIBUTION PER LOAN
$0.00
$154.43
$162.79
$187.63
$192.33
$208.04
$0.00 $50.00 $100.00 $150.00 $200.00 $250.00
19-015206
19-016564
19-015217
19-015209
19-015215
19-015204
TOTAL AMOUNT COLLECTED AS MAY 31, 2022
$0.00
$102.47
$116.14
$162.27
$178.56
$185.20
$0.00 $20.00 $40.00 $60.00 $80.00 $100.00 $120.00 $140.00 $160.00 $180.00 $200.00
19-015206
19-015217
19-016564
19-015209
19-015215
19-015204
TOTAL PRINCIPAL COLLECTED AS OF MAY 31, 2022
$0.00
$13.77
$22.84
$25.36
$38.29
$60.32
$0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 $70.00
19-015206
19-015215
19-015204
19-015209
19-016564
19-015217
TOTAL INTEREST COLLECTED AS OF MAY 31, 2022
DocuSign Envelope ID: 77E0DBD4-9E33-4ABD-A197-18CC7D84206C
CEE SERVICING
REPORT TYPE:INVOICE REPORT
DATA SET DATE:6/1/2022
REPORTING PERIOD:May-22
INVESTOR:CITY OF ELK RIVER
212 3rd Avenue North, Suite 560
Minneapolis, MN 55401
REPORTING MONTH: MAY 2022 Ph.: 612.455.7805
POOL Total Count of
Loans New Loans Added Loans Transferred for
Serviving
Count of Active
Delinquent
Accounts
Total Amount
Collected During
the Month
Principal Collected
During the Month
Interest Collected
During the Month
New Loan On-
boarding Fee @
$20/Account
Loan Transfer On-
Boarding Fee @
$20/Account
Monthly Servicing
@ $6/Account
Delinquent Loan
Management @
$3/Account
Total Monthly
Fees
Netted Amount to
Transfer to
Investor
Row Labels Count of LOAN #Sum of NEW LN INDEXSum of TRNX INDEX Sum of DELINQ INDEXSum of PMNT AMOUNTSum of PRN COLLECTEDSum of INT COLLECTED
HRA REHAB 6 0 0 0 $905.22 $744.64 $160.58 $0.00 $0.00 $36.00 $0.00 $36.00 $869.22
Grand Total 6 0 0 0 $905.22 $744.64 $160.58 $0.00 $0.00 $36.00 $0.00 $36.00 $869.22
ACCOUNT DETAIL FOR INVOICING
PORTFOLIO POOL LOAN #PROPERTY CONTRACT DATE LOAN AMOUNT PMNT DATE PMNT AMOUNT PRN COLLECTED INT COLLECTED TRNX INDEX NEW LN INDEX DELINQ INDEX
ELK RIVER RESIDENTIAL HRA REHAB 19-015215 606 JEFFERSON LN NW 8/3/2015 $20,650.00 5/9/2022 $192.33 $178.56 $13.77 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015204 1420 5TH ST NW 1/25/2017 $22,069.00 5/20/2022 $208.04 $185.20 $22.84 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015209 609 GATES AVE NW 9/22/2017 $19,665.00 5/10/2022 $187.63 $162.27 $25.36 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015217 1811 MAIN ST 5/4/2018 $21,640.00 5/10/2022 $162.79 $102.47 $60.32 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015206 870 VERNON AVE 12/27/2018 $25,000.00 -$0.00 $0.00 $0.00 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-016564 403 3RD ST NW 7/15/2019 $15,252.22 5/15/2022 $154.43 $116.14 $38.29 0 0 0
$905.22 $744.64 $160.58
DocuSign Envelope ID: 77E0DBD4-9E33-4ABD-A197-18CC7D84206C
CEE SERVICING
REPORT TYPE:TRIAL BALANCE REPORT SUMMARY
DATA SET DATE:6/1/2022
REPORTING PERIOD:May-22
INVESTOR:CITY OF ELK RIVER
TRIAL BALANCE PER POOL AS OF 5/31/2022
POOL LOAN COUNT LOAN VOLUME UNPAID PRN BAL
HRA REHAB 6 124,276.22$69,196.84$
Grand Total 6 124,276.22$69,196.84$
TRIAL BALANCE SUMMARY PER LOAN AS OF 5/31/2022
LOAN #POOL PROPERTY CONTRACT DATE INT RATE LOAN AMOUNT UNPAID PRN BAL
19-015215 HRA REHAB 606 JEFFERSON LN NW 8/3/2015 2.25 $20,650.00 $7,029.45
19-015204 HRA REHAB 1420 5TH ST NW 1/25/2017 2.50 $22,069.00 $10,931.06
19-015209 HRA REHAB 609 GATES AVE NW 9/22/2017 2.75 $19,665.00 $11,057.31
19-015217 HRA REHAB 1811 MAIN ST 5/4/2018 4.25 $21,640.00 $17,165.58
19-015206 HRA REHAB 870 VERNON AVE 12/27/2018 4.00 $25,000.00 $11,482.06
19-016564 HRA REHAB 403 3RD ST NW 7/15/2019 4.00 $15,252.22 $11,531.38
124,276.22$69,196.84$
6 MONTH COMPARATIVE REPORT
REPORTED MONTH LOAN COUNT UNPAID PRN BAL
Dec-21 6 74,338.18$
Jan-22 6 73,243.58$
Feb-22 6 72,155.43$
Mar-22 6 71,041.78$
Apr-22 6 69,941.48$
May-22 6 69,196.84$
DocuSign Envelope ID: 77E0DBD4-9E33-4ABD-A197-18CC7D84206C
CEE SERVICING
REPORT TYPE:TRIAL BALANCE REPORT DETAIL
DATA SET DATE:6/1/2022
REPORTING PERIOD:May-22
INVESTOR:CITY OF ELK RIVER
ACCOUNT DETAIL FOR ACTIVE LOANS AS OF 5/31/2022
LOAN #PORTFOLIO POOL ADDRESS CITY STATE ZIP CODE INT RATE CONTRACT MATURITY LOAN AMOUNT TERM UNPD PRN BAL RMNG TERM
19-015215 ELK RIVER RESIDENTIAL HRA REHAB 606 JEFFERSON LN NW ELK RIVER MN 55330 2.25 8/3/2015 8/1/2025 $20,650.00 120 $7,029.45 38
19-015204 ELK RIVER RESIDENTIAL HRA REHAB 1420 5TH ST NW ELK RIVER MN 55333 2.50 1/25/2017 1/1/2027 $22,069.00 120 $10,931.06 55
19-015209 ELK RIVER RESIDENTIAL HRA REHAB 609 GATES AVE NW ELK RIVER MN 55334 2.75 9/22/2017 9/1/2027 $19,665.00 120 $11,057.31 63
19-015217 ELK RIVER RESIDENTIAL HRA REHAB 1811 MAIN ST ELK RIVER MN 55336 4.25 5/4/2018 5/1/2033 $21,640.00 180 $17,165.58 131
19-015206 ELK RIVER RESIDENTIAL HRA REHAB 870 VERNON AVE ELK RIVER MN 55337 4.00 12/27/2018 1/1/2029 $25,000.00 120 $11,482.06 50
19-016564 ELK RIVER RESIDENTIAL HRA REHAB 403 3RD ST NW ELK RIVER MN 55339 4.00 7/15/2019 7/15/2029 $15,252.22 120 $11,531.38 86
124,276.22$69,196.84$
DocuSign Envelope ID: 77E0DBD4-9E33-4ABD-A197-18CC7D84206C
CEE SERVICING
REPORT TYPE:AGING DELINQUENCY REPORT
DATA SET DATE:6/1/2022
REPORTING PERIOD:May-22
INVESTOR:CITY OF ELK RIVER
AGING DELINQUENCY DETAIL PER ACCOUNT AS OF 5/31/2022
LOAN #BORROWER ADDRESS CONTRACT UNPD PRN BAL DPD TOTAL DUE 1 TO 15 DPD 15+ DPD 30+ DPD 60+ DPD 90+ DPD UNPD LATE FEES STATUS LAST PMNT DATE LAST PMNT AMNT
19-015215 606 JEFFERSON LN NW 8/3/2015 $7,029.45 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 5/9/2022 $192.33
19-015204 1420 5TH ST NW 1/25/2017 $10,931.06 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 5/20/2022 $208.04
19-015209 609 GATES AVE NW 9/22/2017 $11,057.31 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 5/10/2022 $187.63
19-015217 1811 MAIN ST 5/4/2018 $17,165.58 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 5/10/2022 $162.79
19-015206 870 VERNON AVE 12/27/2018 $11,482.06 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT -$0.00
19-016564 403 3RD ST NW 7/15/2019 $11,531.38 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 5/15/2022 $154.43
$69,196.84 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 905.22$
DocuSign Envelope ID: 77E0DBD4-9E33-4ABD-A197-18CC7D84206C
Electronic Record and Signature Disclosure
Certificate Of Completion
Envelope Id: 77E0DBD49E334ABDA19718CC7D84206C Status: Completed
Subject: Please DocuSign: ELK-RIVER-LOAN-SERVICING-REPORT-MAY-2022.pdf
Source Envelope:
Document Pages: 14 Signatures: 0 Envelope Originator:
Certificate Pages: 5 Initials: 0 Marco Landoni
AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-06:00) Central Time (US & Canada)
212 3rd Avenue North
Minneapolis, MN 55401
mlandoni@mncee.org
IP Address: 76.17.190.135
Record Tracking
Status: Original
6/10/2022 10:44:09 PM
Holder: Marco Landoni
mlandoni@mncee.org
Location: DocuSign
Signer Events Signature Timestamp
In Person Signer Events Signature Timestamp
Editor Delivery Events Status Timestamp
Agent Delivery Events Status Timestamp
Intermediary Delivery Events Status Timestamp
Certified Delivery Events Status Timestamp
Brent O'Neil
BOneil@elkrivermn.gov
Security Level: Email, Account Authentication
(None), Access Code Using IP Address: 97.91.84.164
Sent: 6/10/2022 10:47:33 PM
Viewed: 7/1/2022 7:45:38 AM
Electronic Record and Signature Disclosure:
Accepted: 7/1/2022 7:45:38 AM
ID: 9623ba49-fd38-4f3e-9f14-aae00b75b51e
Carbon Copy Events Status Timestamp
Finance Department Elk River, MN
Finance@elkrivermn.gov
Security Level: Email, Account Authentication
(None)
Sent: 6/10/2022 10:47:32 PM
Viewed: 6/14/2022 8:34:53 AM
Electronic Record and Signature Disclosure:
Accepted: 7/3/2019 12:05:11 PM
ID: a86cffc0-7b65-45c6-8260-4fa0923f98d6
Witness Events Signature Timestamp
Notary Events Signature Timestamp
Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 6/10/2022 10:47:33 PM
Certified Delivered Security Checked 7/1/2022 7:45:38 AM
Completed Security Checked 7/1/2022 7:45:38 AM
Payment Events Status Timestamps
Electronic Record and Signature Disclosure
ELECTRONIC RECORD AND SIGNATURE DISCLOSURE
From time to time, Center for Energy and Environment (we, us or Company) may be required by
law to provide to you certain written notices or disclosures. Described below are the terms and
conditions for providing to you such notices and disclosures electronically through your
DocuSign, Inc. (DocuSign) Express user account. Please read the information below carefully
and thoroughly, and if you can access this information electronically to your satisfaction and
agree to these terms and conditions, please confirm your agreement by clicking the 'I agree'
button at the bottom of this document.
Getting paper copies
At any time, you may request from us a paper copy of any record provided or made available
electronically to you by us. For such copies, as long as you are an authorized user of the
DocuSign system you will have the ability to download and print any documents we send to you
through your DocuSign user account for a limited period of time (usually 30 days) after such
documents are first sent to you. After such time, if you wish for us to send you paper copies of
any such documents from our office to you, you will be charged a $0.00 per-page fee. You may
request delivery of such paper copies from us by following the procedure described below.
Withdrawing your consent
If you decide to receive notices and disclosures from us electronically, you may at any time
change your mind and tell us that thereafter you want to receive required notices and disclosures
only in paper format. How you must inform us of your decision to receive future notices and
disclosure in paper format and withdraw your consent to receive notices and disclosures
electronically is described below.
Consequences of changing your mind
If you elect to receive required notices and disclosures only in paper format, it will slow the
speed at which we can complete certain steps in transactions with you and delivering services to
you because we will need first to send the required notices or disclosures to you in paper format,
and then wait until we receive back from you your acknowledgment of your receipt of such
paper notices or disclosures. To indicate to us that you are changing your mind, you must
withdraw your consent using the DocuSign 'Withdraw Consent' form on the signing page of your
DocuSign account. This will indicate to us that you have withdrawn your consent to receive
required notices and disclosures electronically from us and you will no longer be able to use your
DocuSign Express user account to receive required notices and consents electronically from us
or to sign electronically documents from us.
All notices and disclosures will be sent to you electronically
Unless you tell us otherwise in accordance with the procedures described herein, we will provide
electronically to you through your DocuSign user account all required notices, disclosures,
authorizations, acknowledgements, and other documents that are required to be provided or
made available to you during the course of our relationship with you. To reduce the chance of
you inadvertently not receiving any notice or disclosure, we prefer to provide all of the required
notices and disclosures to you by the same method and to the same address that you have given
us. Thus, you can receive all the disclosures and notices electronically or in paper format through
the paper mail delivery system. If you do not agree with this process, please let us know as
described below. Please also see the paragraph immediately above that describes the
consequences of your electing not to receive delivery of the notices and disclosures
electronically from us.
Electronic Record and Signature Disclosure created on: 6/17/2016 9:43:53 AM
Parties agreed to: Brent O'Neil, Finance Department Elk River, MN
How to contact Center for Energy and Environment:
You may contact us to let us know of your changes as to how we may contact you electronically,
to request paper copies of certain information from us, and to withdraw your prior consent to
receive notices and disclosures electronically as follows:
To contact us by phone call: 612-335-5884
To contact us by email send messages to: loaninfo@mncee.org
To advise Center for Energy and Environment of your new e-mail address
To let us know of a change in your e-mail address where we should send notices and disclosures
electronically to you, you must send an email message to us at loaninfo@mncee.org and in the
body of such request you must state: your previous e-mail address, your new e-mail address. We
do not require any other information from you to change your email address..
In addition, you must notify DocuSign, Inc to arrange for your new email address to be reflected
in your DocuSign account by following the process for changing e-mail in DocuSign.
To request paper copies from Center for Energy and Environment
To request delivery from us of paper copies of the notices and disclosures previously provided
by us to you electronically, you must send us an e-mail to loaninfo@mncee.org and in the body
of such request you must state your e-mail address, full name, US Postal address, and telephone
number. We will bill you for any fees at that time, if any.
To withdraw your consent with Center for Energy and Environment
To inform us that you no longer want to receive future notices and disclosures in electronic
format you may:
i. decline to sign a document from within your DocuSign account, and on the subsequent
page, select the check-box indicating you wish to withdraw your consent, or you may;
ii. send us an e-mail to loaninfo@mncee.org and in the body of such request you must
state your e-mail, full name, IS Postal Address, telephone number, and account number.
We do not need any other information from you to withdraw consent.. The consequences
of your withdrawing consent for online documents will be that transactions may take a
longer time to process..
Required hardware and software
Operating Systems: Windows2000? or WindowsXP?
Browsers (for SENDERS): Internet Explorer 6.0? or above
Browsers (for SIGNERS): Internet Explorer 6.0?, Mozilla FireFox 1.0,
NetScape 7.2 (or above)
Email: Access to a valid email account
Screen Resolution: 800 x 600 minimum
Enabled Security Settings:
•Allow per session cookies
•Users accessing the internet behind a Proxy
Server must enable HTTP 1.1 settings via
proxy connection
** These minimum requirements are subject to change. If these requirements change, we will
provide you with an email message at the email address we have on file for you at that time
providing you with the revised hardware and software requirements, at which time you will
have the right to withdraw your consent.
Acknowledging your access and consent to receive materials electronically
To confirm to us that you can access this information electronically, which will be similar to
other electronic notices and disclosures that we will provide to you, please verify that you
were able to read this electronic disclosure and that you also were able to print on paper or
electronically save this page for your future reference and access or that you were able to
e-mail this disclosure and consent to an address where you will be able to print on paper or
save it for your future reference and access. Further, if you consent to receiving notices and
disclosures exclusively in electronic format on the terms and conditions described above,
please let us know by clicking the 'I agree' button below.
By checking the 'I Agree' box, I confirm that:
• I can access and read this Electronic CONSENT TO ELECTRONIC RECEIPT OF
ELECTRONIC RECORD AND SIGNATURE DISCLOSURES document; and
• I can print on paper the disclosure or save or send the disclosure to a place where I can
print it, for future reference and access; and
• Until or unless I notify Center for Energy and Environment as described above, I
consent to receive from exclusively through electronic means all notices, disclosures,
authorizations, acknowledgements, and other documents that are required to be
provided or made available to me by Center for Energy and Environment during the
course of my relationship with you.