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2015-01-20_HRA_Agenda_Packet
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2015-01-20_HRA_Agenda_Packet
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1/22/2015 8:32:22 AM
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Commission/Committee
Commission/Authority Name
Housing Redevelopment Authority
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
1/20/2015
Commission/Committee - Meeting Type
Regular
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Agenda 6f. <br />b.Service loans made to City residents: <br />1.Direct the Community Reinvestment Fund (“CRF”) to collect such <br />payments pursuant to a contract dated July 2, 2000 between Consultant <br />and CRF (the “CRF Contract”). <br />2.Direct CRF to take such action pursuant to the CRF Contract if there is an <br />uncured default by a borrower under a loan pursuant to an Installment <br />Loan Program. <br />3.Receive all payments made by borrowers to CRF; <br />4.Disburse all payments received by Consultant as directed, in writing, by <br />the HRA which may include disbursing the funds pursuant to one of the <br />loan programs described in this Agreement. <br />c.Assist City residents considering rehabilitation, including property visits, meet <br />with homeowners and potential contractors, suggest alternatives for rehabilitation <br />to homeowners, educate homeowners on the construction bid process, assist <br />homeowners to evaluate bids and work completed and construction progress. <br />d.Provide HRC housing information to City residents, including information on <br />emergency assistance, housing rehabilitation, first time homebuyers and limited <br />rental information; <br />e.Assist the HRA in developing programs to purchase and rehabilitate homes; <br />f.Coordinate these services out of Consultant’s Housing Resource Center, 1170 <br />Lepak Court, Shoreview, MN 55126; and <br />g.Have Consultant’s staff visit residences as determined necessary by Consultant. <br />Term. <br /> 2. This Agreement shall be in full force and effect from January 1, 2015 and <br />shall continue through December 31, 2015, unless otherwise terminated as set forth below. <br />Compensation <br /> 3. . <br />Construction Management Services to assist City residents: And other <br />non-loan services provided under this Agreement, the HRA shall pay to <br />the Consultant Twelve Thousand Dollars ($12,000.00) within thirty (30) <br />days after execution of this Agreement. <br /> Loan Administration of the Roseville Home Improvement Loan Program: <br /> The borrower shall pay the Consultant’s fees. A nonrefundable <br /> application fee of $75.00 will be charged at the time of application. A fee <br /> of $350 will be included in the loan amount to cover the cost of <br /> origination, closing and escrowing funds. <br /> MHFA Programs: The Consultant shall receive compensation for <br />administering the MHFA Programs directly from the Minnesota Housing <br /> Finance Agency and not from the HRA. <br />2 <br />fb.us.3166730.04 <br /> <br />
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