5.0 HRSR 04-06-2009REQUEST FOR ACTION
To Item Number
Housing & Redevelopment Authority
Agenda Section Meeting Date Prepared by
Apri16, 2009 Annie Deckert, Economic
Develo ment Assistant
Item Description Reviewed by
Authorize approval of HRA Resolution 09-01 authorizing Catherine Mehelich, Director of
receipt and implementation of Neighborhood Stabilization Economic Develo ment
Program grant Reviewed by
Action Requested
Authorize approval of HRA Resolution 09-01 authorizing receipt and implementation of Neighborhood
Stabilization Program grant.
Background/Discussion
At its January 26, 2009 special meeting the HRA authorized submittal of an application to MN Housing
Finance Agency for Neighborhood Stabilization Program (Foreclosure Recovery) Funds in the amount of
$593,820. On February 26`h, the NSP application was approved in the amount of $593,820. The HRA's
application included the following proposed program initiatives:
Down payment assistance
Purchase & Rehabilitation of abandoned/foreclosed homes (buyer-driven)
Purchase & Rehabilitation of abandoned/foreclosed homes (entity-driven)
Update
The NSP funding award was approved for the following neighborhoods (The Bluffs were not awarded
any funding):
• Windsor Oaks
• Trott Brook (all subdivisions)
• Park Pointe
• Elk River Station
Staff has been working with MN Housing and anticipates executing a contract mid-April. Staff and Tri-
CAP will be attending a technical assistance training on Apri17`''. An email distribution list has been
created to update future home-buyers, realtors, lenders and mortgage companies regarding the status of
the NSP funds.
Next Steps
Following the execution of the contract, the next steps would include executing NSP funding agreements,
S:\EDA\HRA\HOUSING\Foreclosure\GMHF NSP Funding\Memos\4.6.09 HRA Action Requested.doc
initiate applicable federal requirements such as environmental review, entering into the grant agreement
with MNHF and developing the formal program implementation documents with Tri-CAP Agency. Staff
anticipates implementing the program late April/ early May.
Attachments
• Elk River Housing & Redevelopment Authority Resolution 09-01
Action Motion by Second by Vote
FOllow Up
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ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY
COUNTY OF SHERBURNE
STATE OF MINNESOTA
RESOLUTION 09-01
RESOLUTION AUTHORIZING RECIEPT AND IMPLEMENTATION OF
THE NEIGHBORHOOD STABILZATION PROGRAM (NSP) GRANT
WHEREAS, on January 26, 2009 the Elk River Housing and Redevelopment Authority
(the "Authority") authorized submittal of the Neighborhood Stabilization Program Grant (the
"Grant") to the Minnesota Housing Finance Agency, a public body corporate and politic of
the State of Minnesota, 400 Sibley Street, St. Paul, Minnesota 55101 (the "Agency"); and
WHEREAS, on February 27, 2009, the Elk River Housing and Redevelopment Authority
was awarded a Neighborhood Stabilization Program Grant by the Minnesota Housing Finance
Agency, in a sum not to exceed $593,820, the terms and receipt of which will be evidenced by
a Neighborhood Stabilization Program Grant Agreement between the Elk River Housing and
Redevelopment Authority and the Agency (the "Grant Agreement");
NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Elk
River Housing and Redevelopment Authority that the following officer(s) are authorized to
execute and deliver the Grant Agreement on behalf of the Elk River Housing and
Redevelopment Authority, at anytime hereafter and without further action taken by or
authority or discretion from the Elk River Housing and Redevelopment Authority:
Stewart Wilson Housing and Redevelopment Authority Chair
Catherine Mehelich Housing and Redevelopment Authority Executive Director
BE IT FURTHER RESOLVED, that the authorized signer(s) named above are authorized
and directed on behalf of the Elk River Housing and Redevelopment Authority , at any time
and from time to time hereafter and without further action by or authority or direction from
the Elk River Housing and Redevelopment Authority , to execute and deliver the Grant
Agreement, and all such other further agreements, assignments, statements, instruments,
certificates and documents and to do or cause to be done all such other and further acts and
things as such officer(s) may determine to be necessary or advisable under or in connection
with the Grant, and that the execution by such officer(s) of any such agreement, assignment,
statement, instrument, certificate or document, or the doing of any such act or thing, shall be
conclusive evidence of their determination in that respect; and
BE IT FURTHER RESOLVED, that the Agency be and hereby is authorized to rely on the
continuing force and effect of these Resolutions, until receipt by the Commissioner of the
Agency at its principal office of notice in writing from the Elk River Housing and
Redevelopment Authority of any amendments or alterations thereof.
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DATED: Apri16, 2009
Stewart Wilson, Chair
ATTEST;
Catherine Mehelich, Executive Director
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