6.4. HRSR 02-05-2024Request for Action
To Item Number
Housing and Redevelopment Authority 6.4
Agenda Section Meeting Date Prepared by
General Business February 5, 2024 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 loan origination contract with CEE expired at the end of 2023. The amendment for a one-year extension
approved by the board in January has been executed and will expire December 31, 2024.
Regarding existing loans, 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
remains available for new loan disbursements in 2024.
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
CEE SERVICING
REPORT TYPE:INVOICE REPORT
DATA SET DATE:1/1/2024
REPORTING PERIOD:Dec-23
INVESTOR:CITY OF ELK RIVER
212 3rd Avenue North, Suite 560
Minneapolis, MN 55401
REPORTING MONTH: DECEMBER 2023 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 9 0 0 0 $1,971.22 $1,450.53 $520.69 $0.00 $0.00 $54.00 $0.00 $54.00 $1,917.22
Grand Total 9 0 0 0 $1,971.22 $1,450.53 $520.69 $0.00 $0.00 $54.00 $0.00 $54.00 $1,917.22
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 12/11/2023 $192.33 $185.17 $7.16 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015204 1420 5TH ST NW 1/25/2017 $22,069.00 12/20/2023 $208.04 $192.55 $15.49 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015209 609 GATES AVE NW 9/22/2017 $19,665.00 12/10/2023 $187.63 $169.36 $18.27 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-015217 1811 MAIN ST 5/4/2018 $21,640.00 12/10/2023 $162.79 $109.43 $53.36 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 19-016564 403 3RD ST NW 7/15/2019 $15,252.22 12/15/2023 $154.43 $123.57 $30.86 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 23-029012 18990 TWIN LAKES RD NW 4/21/2023 $34,749.06 12/18/2023 $260.00 $149.11 $110.89 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 23-028654 13222 179 1/2 AVE NW 6/16/2023 $33,925.67 12/20/2023 $300.00 $191.34 $108.66 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 23-029085 17931 GARY ST NW 6/20/2023 $30,223.00 12/20/2023 $306.00 $210.02 $95.98 0 0 0
ELK RIVER RESIDENTIAL HRA REHAB 23-029618 13366 181ST LN NW 10/2/2023 $23,780.00 12/29/2023 $200.00 $119.98 $80.02 0 0 0
$1,971.22 $1,450.53 $520.69
CEE SERVICING
REPORT TYPE:AGING DELINQUENCY REPORT
DATA SET DATE:1/1/2024
REPORTING PERIOD:Dec-23
INVESTOR:CITY OF ELK RIVER
AGING DELINQUENCY DETAIL PER ACCOUNT AS OF 12/31/2023
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 $3,568.52 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 12/11/2023 $192.33
19-015204 1420 5TH ST NW 1/25/2017 $7,345.00 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 12/20/2023 $208.04
19-015209 609 GATES AVE NW 9/22/2017 $7,910.24 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 12/10/2023 $187.63
19-015217 1811 MAIN ST 5/4/2018 $15,166.87 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 12/10/2023 $162.79
19-016564 403 3RD ST NW 7/15/2019 $9,261.55 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 12/15/2023 $154.43
23-029012 18990 TWIN LAKES RD NW 4/21/2023 $33,580.05 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 12/18/2023 $260.00
23-028654 13222 179 1/2 AVE NW 6/16/2023 $32,860.52 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 12/20/2023 $300.00
23-029085 17931 GARY ST NW 6/20/2023 $28,982.81 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 12/20/2023 $306.00
23-029618 13366 181ST LN NW 10/2/2023 $23,432.49 0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CURRENT 12/29/2023 $201.00
$162,108.05 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 1,972.22$
CEE Monthly Loan Activity Summary
2/5/24 6.4 at2