6.4. HRSR 02-06-2023
Request for Action
To Item Number
Housing and Redevelopment Authority 6.4
Agenda Section Meeting Date Prepared by
General Business February 6, 2023 Joshua Mollan, Economic Development Specialist
Item Description Reviewed by
Housing Rehabilitation Loan Program Update Brent O’Neil, Economic Development Director
Reviewed by
Cal Portner, City Administrator
Action Requested
Receive updates on the Housing Rehabilitation Loan Program.
Background/Discussion
The Minnesota Center for Energy and Environment (CEE) reports that 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 $150,000 remails available for new loan disbursements.
Financial Impact
N/A
Mission/Policy/Goal
Improve existing housing stock by offering incentives or programs to repair and maintain residential properties.
Attachments
CEE Monthly Loan Activity Report
CEE Monthly Loan Activity Summary
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity.
Updated: January 2023
, 2023
st
CITY OF ELK RIVEROPERATIONAL RESULTSDECEMBER 2022
LOAN SERVICING DEPARTMENT
Data set: January 1
Loan #Loan AmountContractMaturityDelinquencyRateNov PymtDec PymtBalance
19-015215$ 20,650.008/3/20158/1/2025N/A2.25%$ 192.33$ 192.33$ 5,768.45
19-015204$ 22,069.001/25/20171/1/2027N/A2.50%$ 208.04$ 208.04$ 9,626.85
19-015209$ 19,665.009/22/20179/1/2027N/A2.75%$ 187.63$ 187.63$ 9,914.33
19-015217$ 21,640.005/4/20185/1/2033N/A4.25%$ 162.79$ 162.79$ 16,446.16
19-016564$ 15,252.227/15/20197/15/2029N/A4.00%$ 154.43$ 154.43$ 10,712.65
Total$ 99,276.22$ 905.22$ 905.22$ 52,468.44
CEE Monthly Loan Activity Summary
2/6/23 6.4 at2