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HomeMy WebLinkAbout5.C. Agreement with Carver County HRA for Administration of Additional Small Cities Development Program Loans s'c, City of Shakopee Memorandum CO~JSENT TO: Mayor and City Council Mark McNeill, City Administrator FROM: Kris Wilson, Assistant to the City Administrator SUBJECT: Agreement with Carver County HRA for Administration of Additional Small Cites Development Program Loans DATE: December 28, 2005 In troduction/Background At its November 1 meeting, the EDA authorized use of repayment funds from the now- closed Small Cities Development Program (SCDP) to make additional deferred loans to qualifying property owners under the terms and conditions applied to the original program. At its December 6 meeting, the EDA authorized extending an agreement with the Carver County HRA to administer these additional loans for a fee of $1500 per loan. It has now come to staff s attention that the agreement to be extended was between the HRA and the City, not the HRA and the EDA. Therefore, City Council approval is needed to enter into the agreement extension. A copy of the extension language is attached. Action Requested If it concurs, the City Council should offer a motion to enter into an agreement with the Carver County HRA for the administration of residential SCDP loan applications and awards on behalf of the City of Shakopee, for an administrative fee not to exceed $1,500 per loan, ~d~~ Assistant to the City Administrator EXTENSION OF THE SMALL CITIES DEVELOPMENT PROGRAM ADMINISTRATIVE AGREEMENT Between THE CITY OF SHAKOPEE And THE CARVER COUNTY HOUSING & REDEVELOPMENT AUTHORITY RECITALS 1. The City of Shakopee ("City") and the Carver County HRA ("HRA") previously entered into an agreement by which the HRA administers the City's Small Cities Development Program. 2. As a result of deferred loans being repaid, the City has additional money that can be used to fund additional deferred loans under the same terms and conditions as the original Small Cities Development Program. 3, The City would like the HRA to continue administering these loans, Now, therefore, the City and the HRA agree that the BRA shall continue to provide the administrative services outlined in the agreement dated August, 1999, for the period of January 1, 2006 through December 31, 2007, in order that Small Cities Development Program (SCDP) grant funds repaid to the City of Shakopee may be used to award additional grants to qualifying properties, following the same terms and conditions as the original SCDP grants. The City of Shakopee will pay the BRA a fee of $1,500 for each residential rehabilitation project completed. . fl:l'/ldtL-.I:km 5C-- (replC-e'fY!e VLf- -fb (' dm0LYVl.LIIl-t- If/l fYL{M'(-C:v( fClc1c..e--+.) EXTENSION OF THE SMALL CITIES DEVELOPMENT PROGRAM ADMINISTRATIVE AGREEMENT Between THE CITY OF SHAKOPEE And THE CARVER COUNTY HOUSING & REDEVELOPMENT AUTHORITY RECITALS 1. The City of Shakopee ("City") and the Carver County HRA ("HRA") previously entered into an agreement by which the HRA administers the City's Small Cities Development Program. 2. As a result of deferred loans being repaid, the City has additional money that can be used to fund additional deferred loans under the same terms and conditions as the original Small Cities Development Program. 3. The City would like the HRA to continue administering these loans. Now, therefore, the City and the HRA agree that the HRA shall continue to provide the administrative services outlined in the agreement dated August, 1999, for the period of January 1, 2006 through December 31, 2007, in order that Small Cities Development Program (SCDP) grant funds repaid to the City of Shakopee may be used to award additional grants to qualifying properties, following the same terms and conditions as the original SCDP grants. The City of Shakopee will pay the HRA a fee of $1,500 for each residential rehabilitation project completed, with payments to be made on a quarterly basis.