HomeMy WebLinkAbout5.D.2. Home Improvement Loans under Residential Rehabilitation Loan Program
b. o. ~ ~
CITY OF SHAKO PEE
Memorandum
CONSE'~T
TO:
Honorable Mayor and City Council; Pamela Punt, Council-elect
Mark McNeill, City Administrator
FROM:
R. Michael Leek, Community Development Director ~
SUBJECT:
Approval of Requests for Home Improvement Loans under
Residential Rehabilitation Loan Program
MEETING DATE: December 1,2009
INTRODUCTION:
Carver CDA received two applications for loans under this program. The CDA has
reviewed the applications and forwarded them to the City Council for approval as
required by the agreement between the City and Carver CDA.
DISCUSSION:
In 1999, the City received a Community Development Block Grant through the State of
Minnesota to be used for commercial and residential rehabilitation loans. These loans
were and are targeted to properties in the CR 101 corridor and Downtown (See attached
map). At present, staff understands there to be about $70,000.00 in re-paid funds that are
available to make additional loans.
Recently, the Carver CDA received and reviewed the attached applications, briefly
described as follows;
. 606 Third Avenue East - $15,000.00 loan requested for roof replacement, minor
electrical upgrades and energy efficiency as funding allows;
. 225 Sommerville Street South - $15,000.00 for upgrades to code, energy
efficiency, safety and miscellaneous livability items.
ALTERNATIVES:
1. Offer and pass a motion approving the requests for rehabilitation loans for 606 Third
Avenue East and 225 Sommerville Street South, and directing staff to work with the
Carver CDA to implement these loans.
2. Table this item for additional information.
STAFF RECOMMENDATION:
1
Staff recommends alternative no. 1, i.e. Offer and pass a motion approving the requests
for rehabilitation loans for 606 Third Avenue East and 225 Sommerville Street South,
and directing staffto work with the Carver CDA to implement these loans.
RELATIONSHIP TO CITY GOALS:
By providing for the upgrading of existing housing in the target area, this item relates to
City Goal D, vibrant, resilient and stable.
ACTION REQUESTED:
Offer and pass a motion approving the requests for rehabilitation loans for 606 Third
A venue East and 225 Sommerville Street South, and directing staff to work with the
Carver CDA to implement these loans.
2
Jj
+1
~~ ~ ~, .ilJ I - - ,~ ".' ,
, ' . ,,'" "' ;::::::::::::"I~'_" t; ~ ,l'm:l. 8
" \ \ \\ \ .rl,,'ml\,~ l,~1 711- 1,0 I -I ~ ~ I.,
,F'IY, ~~~E\\(KK ,'l'i 'N~~: ~l ~..' '\.':- :~'" ~~'~\~ \, " ,D
I ___ '0 hJ ~ _\ ~~ ,o~ ~~'Ol\~::~\: 1 '"\}l\\\l~ r~ lO\ ",.: ,J," '~ ro, I.,~ B
~\. "t\i.","s \. ~ ~ "'\ ~\\ \", \. , 7 . , 1 5 lis I 1c."5I:'f [1
~.' ~ 'I' 1"11 C~"I ", i\, "~\ crTITl'rTITn~nTTTit
'~ . ':.thG\, '\ 10, 0 ;.: '\"1' )0 I'R \ 6 ~:. ,;, \~. iO':) 3,J [[E)t;jL.WJ.J ELLW~tLll.LI E
... t-.. u., ~ - l' ~ t s ww[[]~TJTm~r:rIml~fJlTQ~l~
.~ l~ ,~ W I BR 1 ~ 1 ~ Q:: ('I~L1l.1lJa..L...LL:tLJV1.-
~ ... 3ifo ~VE. w . t/> ..."",'" <:> -
[ill] BIDJ 9illJ =-.. 8EIJIE8IJ}J;EDJ]oBJ]]mrn~IHIDlHIDJ~gjEO]ElIlJImrn~~
1 4 '~rnIEt;jOllEl ~ SCHOO' ~EillJ~ mill [[I]~ rnIG ~8JIG~tIiI02(]]J]]TI]]]]~bj[[J~[]ll1][illI81Im[
~~QITT:1: HaUf(~ ir:rrTD~Q1TD~GJ SCOTT CO. ~EQlTT.l;QlTD~i. -
--LJ EL1JJ.~.Ljl p , ~LlJ.JJ:Ja:~'" JUSTICE ~",LIJ.illo~"'i
~~ITffiJ~ 614P,f: ~DJfiHrnm~ 58 CENTER rnm~[[G"'G]] I
5TH AVE
liIJ]
[f1G
i BJJ]
I Efg
IBE
-
'\ " '"
';'\ ~ : 1
~
~'\J \
-tHH+H+l.lffH
':': m
fR.~t '\
o '.' \ 6 \, '..8.
~ "
r , \
\ '~ "1 ~
'. \.
,1\ I
Key
I
Shakopee Target Area
II
l:\\\"\~
; 'ii.. '.(1. ..
1)0wllloWII Tnrgel Aren
~
COllllllelTi:lI Rehnb Tnrj:el A,.en
r G,fJ,Ql1t
rlf:!.f";