6.1. HRSR 12-05-2022
Request for Action
To Item Number
Housing and Redevelopment Authority 6.1
Agenda Section Meeting Date Prepared by
General Business December 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
The 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.
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 in January. CEE is increasing its
fee from $2,500 to $5,000 in 2023; however, they indicated it would not seek an adjustment to the Elk River
contract due to smaller volume.
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
Existing CEE Agreement
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 RESULTSOCTOBER 2022
LOAN SERVICING DEPARTMENT
Data set: November 1
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Dfsujgjdbuf!Pg!Dpnqmfujpo
Envelope Id: A2FE69F95D34473FAA97024D864CCD24Status: Completed
Subject: Loan Servicing Report for October 2022
Source Envelope:
Document Pages: 24Signatures: 0Envelope Originator:
Certificate Pages: 4Initials: 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: 76.113.180.225
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Status: OriginalHolder: Marco LandoniLocation: DocuSign
11/18/2022 9:33:16 PM mlandoni@mncee.org
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Brent O'NeilSent: 11/18/2022 9:38:01 PM
BOneil@elkrivermn.govViewed: 11/21/2022 9:19:58 AM
Security Level: Email, Account Authentication
(None), Access Code
Using IP Address: 156.99.27.161
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Accepted: 11/21/2022 9:19:58 AM
ID: e9f8363d-bf25-46aa-8143-5faa1fdd246a
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Certified DeliveredSecurity Checked11/21/2022 9:19:58 AM
CompletedSecurity Checked11/21/2022 9:19:58 AM
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CEE Monthly Loan Activity Summary
12/5/22 6.1 at2
Loan #Loan Amount Contract Maturity Delinquency Rate Sep Pymt Oct Pymt Balance
19-015215 20,650.00$ 8/3/2015 8/1/2025 N/A 2.25%192.33$ 192.33$ 6,131.50$
19-015204 22,069.00$ 1/25/2017 1/1/2027 N/A 2.50%208.04$ 208.04$ 10,001.53$
19-015209 19,665.00$ 9/22/2017 9/1/2027 N/A 2.75%187.63$ 187.63$ 10,242.90$
19-015217 21,640.00$ 5/4/2018 5/1/2033 N/A 4.25%162.79$ 162.79$ 16,653.82$
19-016564 15,252.22$ 7/15/2019 7/15/2029 N/A 4.00%154.43$ 154.43$ 10,948.70$
Total 99,276.22$ 905.22$ 905.22$ 53,978.45$