6.1. HRSR 11-07-2022
Request for Action
To Item Number
Housing and Redevelopment Authority 6.1
Agenda Section Meeting Date Prepared by
General Business November 7, 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 two loans for
properties in Elk River.
As part of the HRA’s request to circulate a mailer with utility bills, Elk River Municipal Utilities has drafted a
print mailer to promote the loan program in conjunction with promoting a weatherization program offered by
Tri-CAP. The mailer will be finalized and distributed in an upcoming utility bill cycle.
The loan origination contract with CEE was extended by the HRA at the end of last year through year-end
2022. A new contract or another one-year renewal would be necessary to continue the partnership with CEE in
2023. Staff will be working with CEE and will make a recommendation to the HRA at its December meeting.
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
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
, 2022
st
CITY OF ELK RIVERLOAN SERVICING REPORTOPERATIONAL RESULTSSEPTEMBER 2022
LOAN SERVICING DEPARTMENT
Data set: October 1
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Dfsujgjdbuf!Pg!Dpnqmfujpo
Envelope Id: B576684EE0E14DC28EF47BDA6273AC51Status: Completed
Subject: Loan Servicing Report for September 2022
Source Envelope:
Document Pages: 24Signatures: 0Envelope Originator:
Certificate Pages: 5Initials: 0Marco Landoni
AutoNav: Enabled212 3rd Avenue North
EnvelopeId Stamping: EnabledMinneapolis, MN 55401
Time Zone: (UTC-06:00) Central Time (US & Canada)mlandoni@mncee.org
IP Address: 65.132.174.106
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Status: OriginalHolder: Marco LandoniLocation: DocuSign
10/14/2022 3:27:26 PM mlandoni@mncee.org
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Brent O'NeilSent: 10/14/2022 3:32:20 PM
BOneil@elkrivermn.govViewed: 10/17/2022 1:18:31 PM
Security Level: Email, Account Authentication
(None), Access Code
Using IP Address: 156.99.27.161
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Accepted: 10/17/2022 1:18:31 PM
ID: bdc46093-1af4-4a9e-8f35-25ed8a3e1e14
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Finance Department Elk River, MNSent: 10/14/2022 3:32:20 PM
Finance@elkrivermn.govViewed: 10/14/2022 3:55:03 PM
Security Level: Email, Account Authentication
(None)
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Accepted: 7/3/2019 12:05:11 PM
ID: a86cffc0-7b65-45c6-8260-4fa0923f98d6
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Envelope SentHashed/Encrypted10/14/2022 3:32:20 PM
Certified DeliveredSecurity Checked10/17/2022 1:18:31 PM
CompletedSecurity Checked10/17/2022 1:18:31 PM
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Loan #Loan Amount Contract Maturity Delinquency Rate Aug Pymt Sept Pymt Balance
19-015215 20,650.00$ 8/3/2015 8/1/2025 N/A 2.25%192.33$ 192.33$ 6,311.38$
19-015204 22,069.00$ 1/25/2017 1/1/2027 N/A 2.50%208.04$ 208.04$ 10,188.63$
19-015209 19,665.00$ 9/22/2017 9/1/2027 N/A 2.75%187.63$ 187.63$ 10,407.01$
19-015217 21,640.00$ 5/4/2018 5/1/2033 N/A 4.25%162.79$ 162.79$ 16,758.07$
19-016564 15,252.22$ 7/15/2019 7/15/2029 N/A 4.00%154.43$ 154.43$ 11,066.75$
Total 99,276.22$ 905.22$ 905.22$ 54,731.84$
CEE Monthly Loan Activity Summary
11/7/22 6.1 at2