HomeMy WebLinkAbout5.D.1. Request for Home Improvement Loan under Residential Rehabilitation Loan ProgramTO: Honorable Mayor and City Council
Mark McNeill, City Administrator
FROM: Mark Noble, Planner II
CITY OF SHAKOPEE
Memorandum
SUBJECT: Approval of Request for Home Improvement Loan under Residential
Rehabilitation Loan Program
MEETING DATE: December 20, 2010
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INTRODUCTION:
Carver CDA received an application for loan under the Residential Rehabilitation Loan Program.
The CDA has reviewed the application for compliance with program guidelines, and has forwarded
it 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 the Downtown area, in addition to being available to
residences greater than 75 years old (this structure was built in 1910) and located in the R-1C (Old
Shakopee Residential) Zone. Earlier in 2010, the Council approved a loan request for $15,000.00;
there remain sufficient funds available in this program to support this loan request.
The current request is for a loan of $15,000.00 for 231 Sommerville Street, to be utilized primarily
for siding, windows, plumbing and garage siding /door replacement. The applicant has resided at
this address for five (5) years.
ALTERNATIVES:
1. Offer and pass a motion approving the request for a rehabilitation loan for 231 Sommerville
Street, and direct staff to work with the Carver CDA to implement the loan.
2. Table this item for additional information.
STAFF RECOMMENDATION:
Staff recommends alternative no. 1, offer and pass a motion approving the request for a
rehabilitation loan for 231 Sommerville Street, and direct staff to work with the Carver CDA to
implement the loan.
VISIONING RELATIONSHIP:
By providing for the upgrading of existing housing in the target area, this item relates to Goal A:
Keep Shakopee a safe and healthy community where residents can pursue active and quality
lifestyles.
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ACTION REQUESTED:
Offer and pass a motion approving the request for rehabilitation loan for 231 Sommerville Street,
and directing staff to work with the Carver CDA to implement the loan, and move its adoption.
h: \cc \2010 \12 -20 \CDBG rehab loan 231 sommerville.doc.
Mark Nobl
Planner II
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