6.2. HRSR 10-03-2022
Request for Action
To Item Number
Housing and Redevelopment Authority 6.2
Agenda Section Meeting Date Prepared by
General Business October 3, 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. CEE is currently working on one loan for
properties in Elk River. It has not been determined yet if it would be considered under the Minnesota Housing
Finance Agency program or the HRA-funded loan.
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A staff generated half-page ad was printed in the Fall Home Improvement section of the September 17 issue
of Star News. Staff has also posted about the program on social media accounts.
Staff has met again with ERMU and anticipates the print mailer to accompany utility bills late 2022 or early
2023.
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
CEE Monthly Loan Activity Summary
Star News 9/17 Print Ad
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity