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Housing and Redevelopment Authority Packet - June 1, 2026 Housing and Redevelopment Authority Regular Meeting & Closed Meeting Agenda Monday, June 1, 2026 5:30 PM Elk River City Hall ▪ Regular meeting in Council Chambers ▪ Closed meeting in Upper Town Conference Room immediately following regular meeting 1. CALL MEETING TO ORDER 2. PLEDGE OF ALLEGIANCE 3. CONSIDER AGENDA 4. CONSENT AGENDA Considered to be routine and noncontroversial and will be approved by one motion. There will be no separate discussion of these items unless there is a request to remove the item from the consent agenda to the regular agenda. 4.1 DRAFT Minutes - May 4, 2026 4.2 Check Register 4.3 Balance Sheet 4.4 Revenue/Expenditure Reports 5. OPEN FORUM An opportunity to provide comments and feedback regarding items not on the agenda. Information provided in Open Forum will not be discussed at this meeting; rather, the information will be referred to staff and/or scheduled for discussion at a future meeting. 6. GENERAL BUSINESS Items in which the information is presented by city staff or consultants, then deliberation and action occur. General Business items are not opportunities to receive or provide public input. However, the presiding officer may, at its sole discretion, solicit public feedback. 6.1 Housing Rehabilitation Loan Program Update 7. OPEN DISCUSSION This section is reserved for the board and staff to discuss relevant topics, updates, and other non-action items of the board. 8. MOTION TO ADJOURN REGULAR MEETING 9. CLOSED MEETING 9.1 Statement to be read by the Chair: "The Housing and Redevelopment Authority will be holding a closed meeting per MN Statute 13D.05, subd. 3(c)(3) to develop or consider offers or counteroffers for the purchase or sale of real property. The properties being discussed are within The Village of Elk River plat: Page 1 of 25 The Elk River Vision A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community engagement that encourages and inspires prosperity ▪ PID 75-00405-1110, 365 Jackson Ave NW ▪ PID 75-00405-1115, unaddressed ▪ PID 75-00405-1120, 616 Railroad Dr NW ▪ PID 75-00405-1125, 611 4th St ▪ PID 75-00405-1135, 612 Railroad Dr NW ▪ PID 75-00405-1140, 331 Irving Ave NW ▪ PID 75-00405-1145, 315 Irving Ave NW ▪ PID 75-00405-1150, 600 Railroad Dr NW ▪ PID 75-00405-1155, 618 Railroad Dr NW 9.2 Motion Calling Closed Meeting 9.3 Hold Closed Meeting 9.4 Motion to Adjourn Closed Meeting Page 2 of 25 Meeting of the Housing and Redevelopment Authority Held at the Elk River City Hall Monday, May 4, 2026 Members Present: Commissioner Nate Ovall, Commissioner Lynn Caswell, Commissioner Mel Beaudry, Mayor John Dietz, Commissioner Dave Klutch Members Absent: None. Staff Present: Economic Development Director Brent O'Neil, Economic Development Specialist Joshua Mollan, and Recording Secretary Katie Porath 1. CALL MEETING TO ORDER Pursuant to due call and notice thereof, the meeting was called to order at 5:30 p.m. 2. PLEDGE OF ALLEGIANCE The Pledge of Allegiance was recited. 3. CONSIDER AGENDA Moved by Commissioner Beaudry and seconded by Commissioner Caswell to approve the agenda. Motion carried 5-0. 4. CONSENT AGENDA Moved by Commissioner Dietz and seconded by Commissioner Klutch to approve the following consent items as outlined in their respective staff reports. Motion carried 5-0. 4.1 DRAFT Minutes - April 6, 2026 4.2 Check Register 4.3 Balance Sheet 4.4 Revenue/Expenditure Reports 5. OPEN FORUM No one appeared for open forum. 6. GENERAL BUSINESS Page 3 of 25 Housing and Redevelopment Authority Minutes May 4, 2026 --------- Page 2 of 3 6.1 SAHA - Main Street Family Services Allocation Update Mr. Mollan reviewed the allocation of Statewide Affordable Housing Aid (SAHA) funds to Main Street Family Services. Commissioner Caswell asked how many families were served with the funds. Mr. Mollan responded 11 families this quarter. Commissioner Beaudry asked if the money given out has been what was expected. Mr. Mollan responded that it has met expectations. He added that there was one repeat applicant but the total given to one household is limited to $3,000 per year. Commissioner Dietz confirmed that all money is given to Elk River residents. 6.2 Housing Rehabilitation Loan Program Update Mr. Mollan stated there were no new loans and the current loans are being paid off. He also stated there was an ad placed in the Star News home improvement edition. 7. OPEN DISCUSSION Mr. Mollan stated he received a letter from the Downtown Elk River Business Association in regard to the HRA contribution toward the light up snowflake decor. He also stated, with the repavement of the parking lot, the big red chair located in the downtown area will need to be relocated. Mr. Mollan stated the Garden Gem awards are back for a second year with a new category for rural/non-traditional/prairie/meadow/grove plantings. There are now four residential categories recognized by the HRA. Judging will be in July with awards in August. 8. MOTION TO ADJOURN REGULAR MEETING Moved by Commissioner Klutch and seconded by Commissioner Dietz to adjourn the meeting. Motion carried 5-0. The regular meeting adjourned at 5:38 p.m. Chair Ovall called the closed meeting to order at 5:40 p.m. 9. CLOSED MEETING HRA Present: Chair Nate Ovall, Comissioners Dave Klutch, Mel Beaudry, Lynn Caswell, and John Dietz Staff Present: Economic Development Director Brent O'Neil, Economic Development Specialist Josh Mollan, and Recording Secretary Katie Porath Page 4 of 25 Housing and Redevelopment Authority Minutes May 4, 2026 --------- Page 3 of 3 Others Present: Ryan Hardin, Hardin Companies Chair Ovall read the following statement: 9.1 Statement to be read by the Chair: "The Housing and Redevelopment Authority will be holding a closed meeting per MN Statute 13D.05, subd. 3(c)(3) to develop or consider offers or counteroffers for the purchase or sale of real property. The properties being discussed are within The Village of Elk River plat: ▪ PID 75-00405-1110, 365 Jackson Ave NW ▪ PID 75-00405-1115, unaddressed ▪ PID 75-00405-1120, 616 Railroad Dr NW ▪ PID 75-00405-1125, 611 4th St ▪ PID 75-00405-1135, 612 Railroad Dr NW ▪ PID 75-00405-1140, 331 Irving Ave NW ▪ PID 75-00405-1145, 315 Irving Ave NW ▪ PID 75-00405-1150, 600 Railroad Dr NW ▪ PID 75-00405-1155, 618 Railroad Dr NW 9.2 Motion Calling Closed Meeting 9.3 Hold Closed Meeting 9.4 Motion to Adjourn Closed Meeting Moved by Commissioner Dietz and seconded by Commissioner Beaudry to adjourn the closed meeting. Motion carried 5-0. The meeting adjourned at 6:08 p.m. Minutes prepared by Katie Porath. _________________ Nate Ovall, Chair ___________________ Justin Dunford, City Clerk Page 5 of 25 Page 6 of 25 Page 7 of 25 CITY OF ELK RIVER Balance Sheet May 31, 2026 Fund 910 - HRA Assets 910-1000 Cash - HRA 1,664,227.53 910-1190 Loans Receivable 213,824.28 910-1193 Forgivable Loan 75,000.00 910-1194 Allow for Forgivable Loan (75,000.00) 910-1195 Note Receivable 400,000.00 910-1310 Due From Other Funds 143,229.98 Total Assets 2,421,281.79 Fund Equity 910-2400 Fund Balance 2,464,862.29 Revenues over Expenditures - YTD (43,580.50) Total Fund Equity 2,421,281.79 Total Liabilities & Equity 2,421,281.79 Page 8 of 25 CITY OF ELK RIVER Revenues with Comparison to Budget For the Month Ending May 31, 2026 Fund 910 - HRA Period Actual YTD Actual Budget Unearned PCNT 910-3-0000-3111 Property Taxes - - 469,450.00 (469,450.00) 0% 910-3-0000-3621 Interest Income 715.46 20,971.43 40,000.00 (19,028.57) 52% Total Fund Revenue 715.46 20,971.43 509,450.00 (488,478.57) 4% Page 9 of 25 CITY OF ELK RIVER Expenditures with Comparison to Budget For the Month Ending May 31, 2026 Fund 910 - HRA Period Actual YTD Actual Budget Unearned PCNT 910-4-6100-4101 Regular Pay 6,937.08 27,054.61 92,000.00 (64,945.39) 29% 910-4-6100-4103 Part-time Pay 375.00 1,500.00 4,500.00 (3,000.00) 33% 910-4-6100-4104 PERA 516.53 2,028.29 6,950.00 (4,921.71) 29% 910-4-6100-4105 FICA 430.10 1,687.17 6,000.00 (4,312.83) 28% 910-4-6100-4107 Medicare 100.65 394.37 1,400.00 (1,005.63) 28% 910-4-6100-4108 Insurance 1,008.00 4,032.00 20,750.00 (16,718.00) 19% 910-4-6100-4109 Workers Comp - 174.00 450.00 (276.00) 39% 910-4-6100-4112 PFML 32.56 129.05 500.00 (370.95) 26% 910-4-6100-4201 Office Supplies - 82.30 100.00 (17.70) 82% 910-4-6100-4219 Operating Supplies 5,932.00 5,932.00 - 5,932.00 0% 910-4-6100-4304 Legal Fees - - 3,000.00 (3,000.00) 0% 910-4-6100-4319 Professional Services - - 30,000.00 (30,000.00) 0% 910-4-6100-4331 Travel, Conferences & Schools - - 1,000.00 (1,000.00) 0% 910-4-6100-4349 Advertising/Marketing 370.00 6,598.00 9,750.00 (3,152.00) 68% 910-4-6100-4359 Publishing - - 500.00 (500.00) 0% 910-4-6100-4401 Bldg Repair/Maint Services - - 500.00 (500.00) 0% 910-4-6100-4404 Software Services - - 7,500.00 (7,500.00) 0% 910-4-6100-4409 Contractual Services 9,073.14 14,940.14 27,000.00 (12,059.86) 55% 910-4-6100-4433 Dues & Subscriptions - - 2,500.00 (2,500.00) 0% 910-4-6100-4510 Land - - 200,000.00 (200,000.00) 0% 910-4-6100-4530 Improvement Project Contract - - 50,000.00 (50,000.00) 0% 910-4-6100-4721 Transfer-General Fund - - 40,550.00 (40,550.00) 0% 910-4-6100-4735 Transfer-EDA - - 4,500.00 (4,500.00) 0% Total Fund Expenditures 24,775.06 64,551.93 509,450.00 (444,898.07) 13% Net Revenue Over Expenditures (24,059.60) (43,580.50) - (43,580.50) 0% Page 10 of 25 The Elk River Vision A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community engagement that encourages and inspires prosperity Request for Action To Housing and Redevelopment Authority Item Number 6.1 Meeting Date June 1, 2026 Prepared By Joshua Mollan, Economic Development Specialist Item Description Housing Rehabilitation Loan Program Update Reviewed by Brent O'Neil Cal Portner Action Requested Receive updates on the Housing Rehabilitation Loan Program. Background/Discussion CEE reports that all accounts are current, and the HRA's portfolio is performing as expected with no delinquencies or late payments. $115,000 remains available for new loan disbursements in 2026. CEE has recently received applications. However, no new loans have been closed during this period. Financial Impact N/A Mission/Policy/Goal Improve housing stock by offering incentives or programs to repair or maintain residential properties. Attachments 1. CEE Monthly Loan Activity Summary 2. CEE Monthly Loan Servicing Report Page 11 of 25 CEE Monthly Loan Activity Summary 6/1/26 Page 12 of 25 Data Set: May 1st, 2026 CITY OF ELK RIVER LOAN SERVICING REPORT April 2026 Page 13 of 25 CONTENTS 1         Invoice Report 2         Trial Balance Report (Loan Detail) 3         New Loan Count 4         Total Loan Count (Monthly Detail) 5         Trial Balance Report (Monthly Detail in USD) 6         Monthly Payment Collection Per Loan 7         Total Payment Collection in USD (Monthly Detail) 8         Total Principal Collection in USD (Monthly Detail) 9         Total Interest Collection in USD (Monthly Detail) Page 14 of 25 POOL TOTAL COUNT OFACTIVE LOANSCOUNT OF NEWLOANSCOUNT OF ACTIVEAMORTIZING LOANSCOUNT OF ACTIVEDEFERRED LOANSCOUNT OF ACTIVEDELINQUENT LOANSCOUNT OF PAYOFFSRECEIVEDTOTAL AMOUNTRECEIVEDPRINCIPAL RECEIVEDINTEREST RECEIVEDLATE FEES ANDOTHER FEESRECEIVED3RD PARTY FEESCOLLECTEDNEW LOAN FEESDELINQUENCYMANAGEMENT FEESSATISFACTIONDRAFTING FEESSERVICING FEESTOTAL FEES TOSERVICERFUNDS TO THE CITYOF ELK RIVERHRA REHAB Grand Total 12 0 12 0 0 0 $2,180.04 $1,630.91 $549.13 $0.00 $0.00 $0.00 $0.00 $0.00 $72.00 $72.00 $2,108.04 12 0 12 0 0 0 $2,180.04 $1,630.91 $549.13 $0.00 $0.00 $0.00 $0.00 $0.00 $72.00 $72.00 $2,108.04 CITY OF ELK RIVER INVOICE SUMMARY Detail for April 2026 Page 15 of 25 Source Company Loan #Address TOTAL AMOUNT RECEIVED PRINCIPAL RECEIVED INTEREST RECEIVED LATE FEES AND OTHER FEES RECEIVED 3RD PARTY FEES COLLECTED ELK RIVER 19-015204 1420 5TH ST NW 19-015209 609 GATES AVE NW 19-015217 1811 MAIN ST 19-016564 403 3RD ST NW 23-029012 18990 TWIN LAKES RD NW 23-029085 17931 GARY ST NW 23-029618 13366 181ST LN NW 24-032189 14270 191ST AVE NW 24-033299 17812 CONCORD CT NW 25-039214 18471 TROTT BROOK PKWY NW 25-040378 11137 167TH AVE NW 25-041322 9624 209TH AVE NW Grand Total $208.04 $203.80 $4.24 $0.00 $0.00 $187.63 $180.17 $7.46 $0.00 $0.00 $162.79 $119.18 $43.61 $0.00 $0.00 $154.43 $145.52 $8.91 $0.00 $0.00 $260.00 $160.11 $99.89 $0.00 $0.00 $306.00 $227.60 $78.40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $142.69 $83.58 $59.11 $0.00 $0.00 $258.90 $151.62 $107.28 $0.00 $0.00 $240.66 $216.89 $23.77 $0.00 $0.00 $258.90 $142.44 $116.46 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2,180.04 $1,630.91 $549.13 $0.00 $0.00 CITY OF ELK RIVER PAYMENT BREAKDOWN PER LOAN Detail for April 2026 Page 16 of 25 Loan #Address 2025 Q2 May June Q3 July August September Q4 October November December 2026 Q1 January February March Q2 April 19-015215 606 JEFFERSON LN NW 19-015204 1420 5TH ST NW 19-015209 609 GATES AVE NW 19-015217 1811 MAIN ST 19-016564 403 3RD ST NW 23-029012 18990 TWIN LAKES RD NW 23-028654 13222 179 1/2 AVE NW 23-029085 17931 GARY ST NW 23-029618 13366 181ST LN NW 24-032189 14270 191ST AVE NW 24-033299 17812 CONCORD CT NW 25-039214 18471 TROTT BROOK PKWY NW 25-040378 11137 167TH AVE NW 25-041322 9624 209TH AVE NW Grand Total $173.14$364.75 $0.00 $3,813.92$4,013.44 $3,212.56$3,413.35$3,613.72 $2,607.22$2,809.48$3,011.12 $1,997.97$2,201.78$2,404.71 $1,794.17 $4,799.37$4,975.38 $4,268.51$4,445.76$4,622.59 $3,733.66$3,912.45$4,090.53 $3,194.91$3,375.42$3,554.75 $3,014.74 $13,144.29$13,259.23 $12,795.48$12,911.66$13,027.42 $12,441.44$12,560.36$12,677.39 $12,082.26$12,205.25$12,323.56 $11,963.08 $6,973.95$7,104.25 $6,579.64$6,711.27$6,842.45 $6,180.64$6,314.31$6,446.84 $1,977.03$5,913.32$6,047.21 $1,831.51 $30,840.01$30,994.71 $30,369.34$30,525.64$30,681.40 $29,890.61$30,051.81$30,209.18 $29,403.91$29,573.16$29,732.15 $29,243.80 $29,335.27$29,534.93 $28,728.96$28,930.68$29,131.71 $0.00$28,523.41 $25,106.84$25,326.80 $24,439.70$24,661.92$24,883.38 $23,763.18$23,990.31$24,214.05 $23,077.40$23,311.87$23,537.91 $22,849.80 $18,126.46$18,262.42 $17,405.25$17,555.23$18,003.93 $16,979.30$17,119.26$17,119.26 $16,268.46$16,715.33$16,836.98 $16,268.46 $18,153.21$18,233.95 $17,907.32$17,988.90$18,070.20 $17,657.01$17,741.37$17,823.51 $17,402.30$17,491.31$17,574.30 $17,318.72 $32,939.72$33,086.22 $32,493.60$32,641.61$32,789.12 $32,039.44$32,192.50$32,341.53 $31,577.31$31,738.83$31,889.39 $31,425.69 $8,151.00 $7,509.76$7,721.65$7,935.35 $6,854.30$7,081.00$7,290.49 $6,198.19$6,421.26$6,644.44 $5,981.30 $34,715.62$34,848.50$34,848.50 $34,279.98$34,433.22$34,574.66 $34,137.54 $34,460.29$34,863.84$35,000.00 $34,460.29 $191,557.18$185,156.08 $185,710.12$187,507.67$189,601.27 $186,862.42$188,621.35$218,595.81 $211,920.01$218,244.59$220,120.06 $210,289.10 CITY OF ELK RIVER TRIAL BALANCE REPORT Monthly Detail Page 17 of 25 2025 Q2 Q3 Q4 2026 Q1 Q2 MayJuneJulyAugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchApril0 6 12 Number of Active Loans11 12 12 11 11 12 12 11 12 12 12 12 CITY OF ELK RIVER TOTAL LOAN COUNT Monthly Detail Page 18 of 25 2025 Q2 Q3 Q4 2026 Q1 Q2 MayJuneJulyAugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchApril0 1 2 COUNT OF NEW LOANS ADDED010001001000CITY OF ELK RIVER NEW LOAN COUNT Monthly Detail Page 19 of 25 2025 Q2 Q3 Q4 2026 Q1 Q2 MayJuneJulyAugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchApril$0.00 $100,000.00 $200,000.00 Unpaid Principal Balance$185,156.08$191,557.18$189,601.27$187,507.67$185,710.12$218,595.81$188,621.35$186,862.42$220,120.06$218,244.59$211,920.01$210,289.10CITY OF ELK RIVER TRIAL BALANCE Monthly Detail in USD Page 20 of 25 2025 Q2 May June Q3 July August September Q4 October November December 2026 Q1 January February March Q2 April ELK RIVER 19-015204 1420 5TH ST NW 19-015209 609 GATES AVE NW 19-015215 606 JEFFERSON LN NW 19-015217 1811 MAIN ST 19-016564 403 3RD ST NW 23-028654 13222 179 1/2 AVE NW 23-029012 18990 TWIN LAKES RD NW 23-029085 17931 GARY ST NW 23-029618 13366 181ST LN NW 24-032189 14270 191ST AVE NW 24-033299 17812 CONCORD CT NW 25-039214 18471 TROTT BROOK PKWY NW 25-040378 11137 167TH AVE NW 25-041322 9624 209TH AVE NW Grand Total $208.04$208.04 $208.04$208.04$208.04 $208.04$208.04$208.04 $208.04$208.04$208.04 $208.04 $187.63$187.63 $187.63$187.63$187.63 $187.63$187.63$187.63 $187.63$187.63$187.63 $187.63 $192.33$192.33 $173.42 $162.79$162.79 $162.79$162.79$162.79 $162.79$162.79$162.79 $162.79$162.79$162.79 $162.79 $154.43$154.43 $154.43$154.43$154.43 $154.43$154.43$154.43 $3,955.43$154.43$154.43 $154.43 $300.00$300.00 $300.00$300.00$300.00 $28,639.09$300.00 $260.00$260.00 $260.00$260.00$260.00 $260.00$260.00$260.00 $260.00$260.00$260.00 $260.00 $306.00$306.00 $306.00$306.00$306.00 $306.00$306.00$306.00 $306.00$306.00$306.00 $306.00 $201.00$501.00 $201.00$501.00$201.00 $201.00$0.00$402.00 $501.00$178.00$201.00 $0.00 $142.69$142.69 $142.69$142.69$142.69 $142.69$142.69$142.69 $142.69$142.69$142.69 $142.69 $258.90$258.90 $258.90$258.90$258.90 $258.90$258.90$258.90 $258.90$258.90$258.90 $258.90 $0.00 $240.66$240.66$240.66 $240.66$240.66$240.66 $240.66$240.66$240.66 $240.66 $258.90$0.00$258.90 $258.90$258.90$258.90 $258.90 $562.00$259.90$0.00 $0.00 $2,373.81$2,673.81 $2,422.14$2,722.14$2,595.56 $2,381.04$30,560.23$2,882.04 $7,044.04$2,617.94$2,381.04 $2,180.04 CITY OF ELK RIVER PAYMENT COLLECTION PER LOAN Monthly Detail Page 21 of 25 2025 Q2 Q3 Q4 2026 Q1 Q2 MayJuneJulyAugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchApril$20,000.00 TOTAL PAYMENTS COLLECTED$2,673.81$2,373.81$2,595.56$2,722.14$2,422.14$30,560.23$2,882.04$2,381.04$2,381.04$2,617.94$7,044.04$2,180.04CITY OF ELK RIVER TOTAL PAYMENT COLLECTION (USD) Monthly Detail Page 22 of 25 2025 Q2 Q3 Q4 2026 Q1 Q2 MayJuneJulyAugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchApril$20,000.00 PRINCIPAL RECEIVED$2,065.88$1,749.90$1,955.91$2,093.60$1,797.55$29,974.46$2,114.31$1,758.93$1,742.36$1,875.47$6,324.58$1,630.91CITY OF ELK RIVER TOTAL PRINCIPAL COLLECTION (USD) Monthly Detail Page 23 of 25 2025 Q2 Q3 Q4 2026 Q1 Q2 MayJuneJulyAugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchApril$0.00 $400.00 $800.00 INTEREST RECEIVED$606.93$622.91$638.65$627.54$623.59$765.73$582.62$621.11$637.68$740.47$715.46$549.13CITY OF ELK RIVER TOTAL INTEREST COLLECTION(USD) Monthly Detail Page 24 of 25 Source Company Loan #Address DAYS PAST DUE AMOUNT DUE 30+ DAYS TOTAL AMOUNT DUE ELK RIVER 19-015204 1420 5TH ST NW 19-015209 609 GATES AVE NW 19-015217 1811 MAIN ST 19-016564 403 3RD ST NW 23-029012 18990 TWIN LAKES RD NW 23-029085 17931 GARY ST NW 23-029618 13366 181ST LN NW 24-032189 14270 191ST AVE NW 24-033299 17812 CONCORD CT NW 25-039214 18471 TROTT BROOK PKWY NW 25-040378 11137 167TH AVE NW 25-041322 9624 209TH AVE NW Grand Total 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 0 $0.00 $0.00 CITY OF ELK RIVER AGING DELINQUENCY Detail for April 2026 Page 25 of 25