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HomeMy WebLinkAboutAgenda Packets - 2026/04/13 CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY MEETING AGENDA MOUNDS VIEW CITY HALL Monday, April 13, 2026 6:00 p.m. Immediately Following City Council Meeting 1. CALL TO ORDER 2. ROLL CALL: President Gunn, Vice President Clark, Commissioner Meehlhause, Lindstrom, Smith 3. APPROVAL OF AGENDA 4. CONSENT AGENDA A. Approval of Minutes: February 9, 2026 5. SPECIAL ORDER OF BUSINESS A. None 6. PUBLIC COMMENT Citizens may speak to issues relating to economic development and not on the agenda. Before speaking, please give your full name and address for the minutes. Also, please limit your comments to three minutes. As a reminder, public comment is for addressing the Economic Development Authority only. Comments or concerns regarding staff must be submitted in writing to the Mayor or City Administrator. Failure to respect these guidelines will result in the President asking you to cease commenting and asking you to return to your seat. That said, is there anyone here for public comment? 7. EDA BUSINESS A. Resolution 26-EDA-386 Approving an Eighth Amendment to the Loan Origination Agreement with the Center for Energy and Environment 8. REPORTS A. None 9. NEXT EDA MEETING: April 27, 2026 at 6:00 p.m. Mounds View City Hall 10. ADJOURNMENT PROCEEDINGS OF THE MOUNDS VIEW EDA 1 CITY OF MOUNDS VIEW 2 RAMSEY COUNTY, MINNESOTA 3 4 Regular Meeting 5 February 9, 2026 6 Mounds View City Hall 7 2401 Mounds View Boulevard, Mounds View, MN 55112 8 9 10 1. CALL MEETING TO ORDER 11 12 President Gunn called the meeting to order at 7:35 p.m. 13 14 2. ROLL CALL: President Gunn, Vice President Clark, Commissioner Lindstrom, 15 Commissioner Meehlhause, Commissioner Smith and Executive Director Zikmund. 16 17 NOT PRESENT: None. 18 19 3. APPROVAL OF AGENDA 20 21 MOTION/SECOND: Lindstrom/Clark. To Approve the February 9, 2026, Agenda as presented. 22 23 Ayes – 5 Nays – 0 Motion carried. 24 25 4. CONSENT AGENDA 26 27 A. January 12, 2026, EDA Minutes. 28 B. January 20, 2026, Special EDA Minutes. 29 30 MOTION/SECOND: Clark/Lindstrom. To Approve the Consent Agenda as presented. 31 32 Ayes – 5 Nays – 0 Motion carried. 33 34 5. SPECIAL ORDER OF BUSINESS 35 36 None. 37 38 6. PUBLIC COMMENT 39 40 None. 41 42 7. EDA BUSINESS 43 44 A. Resolution 26-EDA-381, A Resolution Accepting City Council Delegation to 45 Administer the City’s LAHA Programing & Funding. 46 Mounds View EDA February 9, 2026 Regular Meeting Page 2 1 Assistant City Administrator Beeman requested the EDA accept City Council delegation to 2 administer the City’s LAHA programming and funding. He commented further on how this action 3 would allow the EDA to administer the LAHA programming. 4 5 MOTION/SECOND: Meehlhause/Lindstrom. To Waive the Reading and Adopt Resolution 26-6 EDA-381, a Resolution Accepting City Council Delegation to Administer the City’s LAHA 7 Programing & Funding. 8 9 Ayes – 5 Nays – 0 Motion carried. 10 11 B. Resolution 26-EDA-382, A Resolution Approving a Seventh Amendment to the 12 Loan Origination Agreement with the Center for Energy and Environment. 13 14 Assistant City Administrator Beeman requested the Council approve a Seventh Amendment to the 15 Loan Origination Agreement with the Center for Energy and Environment. He discussed the 16 proposed amendment in detail with the EDA and recommended approval. 17 18 Commissioner Lindstrom asked if the EDA has to pay $600 for each loan. Assistant City 19 Administrator Beeman reported this was the case, noting the fee covers the loan origination fees, 20 an inspection, annual administrative fee, and LAHA origination fee. 21 22 MOTION/SECOND: Lindstrom/Smith. To Waive the Reading and Adopt Resolution 26-EDA-23 382, a Resolution Approving a Seventh Amendment to the Loan Origination Agreement with the 24 Center for Energy and Environment. 25 26 Ayes – 5 Nays – 0 Motion carried. 27 28 C. Resolution 26-EDA-383, A Resolution Approving Purchase and Development 29 Agreement and Conveyance of Property Located in Mounds View, Minnesota 30 located at 2716 Hillview Road. 31 32 Assistant City Administrator Beeman requested the EDA approve the Purchase and Development 33 Agreement and conveyance of property located in Mounds View, Minnesota located at 2716 34 Hillview Road. He explained a public hearing was required for this item. He noted this property 35 was located next to the bank. 36 37 President Gunn opened the public hearing at 7:43 p.m. 38 39 Carol Mueller, 8343 Groveland Road, asked if a previous action taken by the Council related to 40 maximum building height was related to this project. 41 42 Commissioner Lindstrom responded no. 43 44 Mounds View EDA February 9, 2026 Regular Meeting Page 3 President Gunn closed the public hearing at 7:44 p.m. 1 2 MOTION/SECOND: Meehlhause/Clark. To Waive the Reading and Adopt Resolution 26-EDA-3 383, a Resolution Approving Purchase and Development Agreement and Conveyance of Property 4 Located in Mounds View, Minnesota located at 2716 Hillview Road. 5 6 Ayes – 5 Nays – 0 Motion carried. 7 8 D. Resolution 26-EDA-384, A Resolution Approving Purchase and Development 9 Agreement and Conveyance of Property Located in Mounds View, Minnesota 10 located at 2833 Mounds View Boulevard. 11 12 Assistant City Administrator Beeman requested the EDA approve the Purchase and Development 13 Agreement and Conveyance of property located in Mounds View, Minnesota located at 2833 14 Mounds View Boulevard. He reported a public hearing was required for this item. 15 16 Commissioner Smith stated this property could be up to five stories because the project was mixed 17 use. 18 19 Commissioner Lindstrom reported this was the case. 20 21 Assistant City Administrator Beeman noted the applicant was requesting a four-story building. He 22 explained the applicant would have one year to break ground on this project. He discussed the 23 options that were available to the EDA to mitigate the risk if this project were to stop midway 24 through. 25 26 President Gunn opened the public hearing at 7:52 p.m. 27 28 President Gunn closed the public hearing at 7:52 p.m. 29 30 MOTION/SECOND: Meehlhause/Clark. To Waive the Reading and Adopt Resolution 26-EDA-31 384, a Resolution Approving Purchase and Development Agreement and Conveyance of Property 32 Located in Mounds View, Minnesota located at 2833 Mounds View Boulevard. 33 34 Ayes – 5 Nays – 0 Motion carried. 35 36 E. Resolution 26-EDA-385, a Resolution Amending the Forgivable Loan 37 Program and Guidelines. 38 39 Assistant City Administrator Beeman requested the EDA adopt a Resolution amending the 40 Forgivable Loan Program and Guidelines. He discussed the proposed amendments in further detail 41 and recommended approval. 42 43 Commissioner Lindstrom thanked staff for all of their efforts on this item. 44 Mounds View EDA February 9, 2026 Regular Meeting Page 4 1 MOTION/SECOND: Clark/Lindstrom. To Waive the Reading and Adopt Resolution 26-EDA-2 385, a Resolution Amending the Forgivable Loan Program and Guidelines. 3 4 Ayes – 5 Nays – 0 Motion carried. 5 6 8. REPORTS 7 8 None. 9 10 9. NEXT EDA MEETING: Monday, February 23, 2026 at 6:00 p.m. 11 12 10. ADJOURNMENT 13 14 President Gunn adjourned the meeting at 7:58 p.m. 15 16 Respectfully submitted, 17 18 19 Recorded and transcribed by: 20 Heidi Guenther 21 Minute Maker Secretarial 22 To: Economic Development Authority From: Brian Beeman, Assistant City Administrator Item Title/Subject: Resolution 26-EDA-386 Approving an Eighth Amendment to the Loan Origination Agreement with the Center for Energy and Environment Background The Center for Energy and Environment (CEE) administers several loan programs for the EDA. The current Loan Origination Agreement was renewed September 22, 2025 for the duration of 2026. A seventh Amendment was approved February 9, 2026. The City of Mounds View’s Code Inspector brought it to CEE’s attention that a mobile home had a leaky roof. The property owner applied for the existing LAHA grant and was denied because the current guidelines don’t address roofs as part of the criteria. The EDA used to have an Emergency Loan Program that would address this issue. Since the City does not offer the Emergency Loan Program any longer, staff and CEE are recommending that the guidelines for the LAHA grant program be amended to include roof repair. Other than amending the LAHA program guidelines, the Agreement is staying the same. This will be the eighth amendment to the Loan Origination Agreement since the original agreement was adopted and is effective immediately April 13, 2026 and expires December 31, 2026. There are currently three separate Agreements: 1) The Loan Origination Agreement must be approved annually by the EDA via a Resolution. 2) The Loan Servicing Agreement is already in place and renews annually automatically. 3) The Home Energy Squad (HES) Agreement doesn’t expire until December 31, 2026 and is usually a two-year agreement also approved by the EDA via a Resolution. The City pays 50% and the Resident pays the other 50% for HES to complete an Energy Saver visit and Energy Planner visit. The EDA currently reimburses CEE $35 for every HESES visit and $50 for every HESEP visit completed, not to exceed an aggregate total of $3,000 without further authorization from the EDA. Discussion The EDA to review and discuss amending the Loan Origination Agreement, with the only change being adding roof repair to the LAHA Manufactured Home Grant Program of the Mounds View Loan Program Guidelines. Item No : : 7A Meeting Date : : April 13, 2026 Type of Business: : EDA BUSINESS Administrator Review : ____ City of Mounds View Staff Report EDA Item 7A April 13, 2026 Page 2 Strategic Plan Strategy/Goal Maintain a positive business climate where businesses want to locate and remain in Mounds View. Finance top redevelopment areas Industrial/Commercial/Residential. Financial Impact This is a budgeted item, $60,000 for all loan programs 2026 and $100,000 for the LAHA program. Total of $160,000 for all programs. This LAHA Guidelines Amendment does not affect the budget. Recommendation Staff recommends the EDA consider adopting 26-EDA-386 Approving an Eighth Amendment to the Loan Origination Agreement with the Center for Energy and Environment via a motion. Respectfully submitted, ___________________________ Brian Beeman, Assistant City Administrator Attachment(s): 1. EDA Resolution 26-EDA-386, Approving an Eighth Amendment to the Loan Origination Agreement with CEE Exhibit A, Amendment 8, Loan Origination Agreement 2. Amendment 8 to the Loan Origination Agreement between the Economic Development Authority in and for the City of Mounds View and Center for Energy and Environment 3. A-2 Exhibit A8 Program Guidelines EDA RESOLUTION 26-EDA-386 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA A RESOLUTION APPROVING AN EIGHTH AMENDMENT TO THE LOAN ORIGINATION AGREEMENT WITH CENTER FOR ENERGY AND ENVIRONMENT BE IT RESOLVED by the Board of Commissioners (the “Board”) of the Mounds View Economic Development Authority (the “Authority”) as follows: Section 1. Recitals. 1.01. The Authority is authorized pursuant to Minnesota Statutes, Sections 469.090 to 469.1081 (the “EDA Act”), to participate in providing certain loan programs (collectively, the “Loans”). 1.02. The Authority, on December 11, 2017, approved a Loan Origination agreement with the Center for Energy and Environment, a non-profit corporation formed under the laws of the State of Minnesota. 1.03. The Authority has determined that an amendment is necessary in order to amend the LAHA Guidelines of the Agreement. 1.04. The Authority acknowledges that the terms of the amendment to the loan origination agreement (the “Amendment”), a copy of which is attached as Exhibit A to this resolution, which includes program guidelines (A-2) has not changed except for adding an amendment to the LAHA Program. 1.05. The Board has reviewed the Amendment and finds that the execution thereof by the Authority and performance of the obligations thereunder are in the best interest of the Authority, the City and its residents. Section 2. Authorization. 2.01. The recitals set forth in this Resolution are incorporated into and made a part of this Resolution. 2.02. The Board hereby approves the Amendment in substantially the form presented to the Board on the date below and further subject to any modifications that do not alter the substance of the transaction and that are approved by the Authority’s attorney. Resolution 26-EDA-386 Page 2 2.03. The proper Authority officials, staff and consultants are authorized to execute the Amendment and to take any and all other steps necessary or convenient in order to carry out the obligations under the Amendment, as well as to fulfill the intent of this Resolution. Adopted on the 13th day of April 13, 2026. Sherry Gunn, President Attest: Brian Beeman, Deputy Executive Director (SEAL) AMENDMENT 8 to the LOAN ORIGINATION AGREEMENT Between ECONOMIC DEVELOPMENT AUTHORITY in and for the CITY OF MOUNDS VIEW And CENTER FOR ENERGY AND ENVIRONMENT City of Mounds View Home Improvement Loan Program The Agreement made the 1st day of January, 2018 by and between the Economic Development Authority in and for the CITY OF MOUNDS VIEW, with offices at 2401 Mounds View Blvd, Mounds View, MN 55112, (the “Authority”), and CENTER FOR ENERGY AND ENVIRONMENT, with its offices at 212 3rd Avenue North, Suite 560, Minneapolis, Minnesota 55401 (“CEE”) is hereby amended. 1. Services/Scope of Work of the agreement shall read: 1.1 CEE shall, as directed by the Authority, develop and deliver the City of Mounds View Loan Programs (hereinafter the “Program”) which are more fully described in Exhibit A8, attached hereto. All activities delivered under the Program shall be coordinated with the Authority’s designated representative, who shall be the Finance Director or the Assistant City Administrator. All other sections of the contract shall remain as written in the original and amended agreements. IN WITNESS WHEREOF, the parties hereunder set their hands as of the date written below: ECONOMIC DEVELOPMENT AUTHORITY of MOUNDS VIEW CENTER FOR ENERGY AND ENVIRONMENT By___________________________ By __________________________ Sherry Gunn, President Stephanie Haddad, COO Date __________________________ Date _________________________ # By ___________________________ TAX ID 41-1647799 Brian Beeman, Deputy, Executive Director Date_________________________ Exhibit A8 Page 1 Agreement between the City of Mounds View and Center for Energy and Environment EXHIBIT A8 PROGRAM GUIDELINES Exhibit A8 Page 2 Agreement between the City of Mounds View and Center for Energy and Environment MOUNDS VIEW LOAN PROGRAM GUIDELINES The City of Mounds View EDA is making funds available for homeowners to make improvements to their properties. The Mounds View Loan Program is designed to supplement existing loan programs available from MHFA, CEE, private lenders and other housing resources. This program is not intended to be the sole source of improvement funds available to the City. Center for Energy and Environment shall serve as the administrator for the Mounds View Loan Program and will secure the most beneficial financing based on the borrower’s needs independent of the funding source. Residential Home Improvement Loan Program Interest Rate: 3% for households with income less than or equal to 80% of HUD Area Median Income 4% for households with income greater than 80% of HUD Area Median Income ***Income shall be determined by projected income for the next year and is based on household size. Amortization Type: Amortizing (Monthly Payments Required) Loan Amount: Minimum of $2,000 and Maximum of $15,000. Loan term: Generally, one year per $1,000 borrowed. This will be somewhat flexible depending on the size of the loan and the borrower’s ability to repay the loan. The minimum term is 1 year; the maximum term will be 10 years. Eligible Properties: 1-4 unit owner-occupied properties located within the geographical boundaries of the City of Mounds View. Townhomes and Condominiums are eligible. Ineligible Properties: Dwellings with more than four units, cooperatives, manufactured homes and properties used for commercial purposes. Eligible Borrowers: All borrowers must be legal residents of the United States, as evidenced by a social security number, Including: U.S. Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens. TAX IDENTIFICATION NUMBERS (ITIN) ARE NOT ACCEPTABLE. Ineligible Borrowers: Including but not limited to: - Foreign Nationals, Non-Occupant Co-Borrowers, and Properties held in the name of a business. Ownership/Occupancy: Owner- occupied only. Exhibit A8 Page 3 Agreement between the City of Mounds View and Center for Energy and Environment Loan - to - Value Ratio: The ratio of all loans secured by the property, including the new loan, should not exceed 110% of the property value. Half of the improvement value may be added to the initial property value. Income Limit: There is no maximum income limit Debt - to - Income Ratio: Applicant must have the ability to repay the loan. An applicant who has a debt to income ratio in excess of 50% will be ineligible to receive financing. Credit Requirements: 1) All mortgage payments must be current and reflect no 30 day late payments history in the past 12 month period (without reasonable explanation) 2) All real estate taxes must be current. 3) No outstanding judgements or collections. 4) Bankruptcy must have been discharged for at least 18 months prior to loan closing. 5) The redemption period on prior foreclosures must have occurred at least 18 months prior to the loan application date. 6) Generally, no more than two 60-day late payments on credit report. Any 60 day late requires a documented explanation and reasonable reasons; medical, unemployment, divorce. 7) No defaulted government loans. Multiple Loans per Property: More than one loan per property is allowed, however, the outstanding balance(s) cannot exceed $15,000. Eligible Use of Funds: Loans may be used to finance most interior and exterior improvements that improve the basic livability of the property. Garages, decks, porches, retaining walls, landscaping and fences can be repaired, replaced or built as new construction. Contractors must be properly licensed and permits must be obtained when required. Ineligible Use of Funds: Payment for work initiated prior to the loan being approved and closed, unless due to emergency. Recreation or luxury projects (pools, lawn sprinkler systems, playground equipment, saunas, whirlpools, etc.), furniture, non-permanent appliances (unless part of a full kitchen remodel), and funds for working capital, debt service, homeowner labor or refinancing existing debts are NOT allowed. Bids: Only 1 bid is required. All contractors must be properly licensed. Sweat Equity / Homeowner Labor: Work may be performed by property owners on a “sweat equity” basis. Loan funds may be used only for the purchase of materials. Loan funds may be used to rent tools/equipment. Post Installation Inspection: Permits must be obtained and signed off by a City inspector where required; when not required, a post installation inspection will be performed by CEE to ensure the work has been completed before any funds will be released. Loan Security: All loans will be secured with a mortgage in favor of the City of Mounds View EDA. Borrower Fees: Borrower will be responsible for all applicable mortgage filing fees, title, flood certificate, credit report and any other fees associated with the loan. All fees may be financed in the loan. Exhibit A8 Page 4 Agreement between the City of Mounds View and Center for Energy and Environment Underwriting Decision: Applicants must have acceptable credit history. CEE will approve or deny loans based on a credit report, income verification and other criteria as deemed necessary through CEE’s underwriting guidelines. CEE’s decision shall be final. Appeals can be made to the City of Mounds View. Work Completion: All work must be completed within 120 days of the loan closing. However, when warranted, CEE may authorize exceptions on a case by case basis. Residential Mobile Improvement Loan Program Interest Rate: 3% for households with income less than or equal to 80% of HUD Area Median Income 4% for households with income greater than 80% of HUD Area Median Income ***Income shall be determined by projected income for the next 12 months and is based on household size. Amortization Type: Amortizing. (Monthly Payments Required) Loan Amount: Minimum of $2,000 and Maximum of $10,000. Loan term: Generally, one year per $1,000 borrowed. This will be somewhat flexible depending on the size of the loan and the borrower’s ability to repay the loan. The minimum term is 1 year; the maximum term will be 7 years. Eligible Properties: Residential mobile homes located within the geographical boundaries of the City of Mounds View. Ineligible Properties: Non owner-occupied , cooperatives, time shares, properties held in the name of a trust and properties used for commercial purposes. Eligible Borrowers: All borrowers must be legal residents of the United States, as evidenced by a social security number, Including: U.S. Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens. TAX IDENTIFICATION NUMBERS (ITIN) ARE NOT ACCEPTABLE. Ineligible Borrowers: Including but not limited to: - Foreign Nationals, Non-Occupant Co-Borrowers, and Properties held in the name of a trust or business. Ownership/Occupancy: Owner- occupied only. Loan - to - Value Ratio: Not applicable Income Limit: There is no maximum income limit. Exhibit A8 Page 5 Agreement between the City of Mounds View and Center for Energy and Environment Debt - to - Income Ratio: Applicant must have the ability to repay the loan. An applicant who has a debt to income ratio in excess of 50% will be ineligible to receive financing. Credit Requirements: 1) All mortgage payments must be current and reflect no 30 day late payments history in the past 12 month period (without reasonable explanation) 2) All real estate taxes must be current. 3) No outstanding judgements or collections. 4) Bankruptcy must have been discharged for at least 18 months prior to loan closing. 5) The redemption period on prior foreclosures must have occurred at least 18 months prior to the loan application date. 6) Generally, no more than two 60-day late payments on credit report. Any 60 day late requires a documented explanation and reasonable reasons; medical, unemployment, divorce. 7) No defaulted government loans. Multiple Loans per Property: More than one loan per property is allowed, however, the outstanding balance(s) cannot exceed $10,000. Eligible Use of Funds: Loans may be used to finance most interior and exterior improvements that improve the basic livability of the property. Garages, decks, porches, retaining walls, landscaping and fences can be repaired, replaced or built as new construction. Contractors must be properly licensed and permits must be obtained when required. Ineligible Use of Funds: Payment for work initiated prior to the loan being approved and closed, unless due to emergency. Recreation or luxury projects (pools, lawn sprinkler systems, playground equipment, saunas, whirlpools, etc.), furniture, non-permanent appliances (unless part of a full kitchen remodel), and funds for working capital, debt service, homeowner labor or refinancing existing debts are NOT allowed. Bids: Only 1 bid is required. All contractors must be properly licensed. Sweat Equity / Homeowner Labor: Work may be performed by property owners on a “sweat equity” basis. Loan funds may be used only for the purchase of materials. Loan funds may be used to rent tools/ equipment. Post Installation Inspection: Permits must be obtained and signed off by a City inspector where required; when not required, a post installation inspection will be performed by CEE to ensure the work has been completed before any funds will be released. Loan Security: All loans will be secured by a lien in favor of the City of Mounds View EDA. Borrower Fees: Borrower will be responsible for all applicable mortgage filing fees, title, flood certificate, credit report and any other fees associated with the loan. All fees may be financed in the loan amount . Underwriting Decision: Applicants must have acceptable credit history. CEE will approve or deny loans based on a credit report, income verification and other criteria as deemed necessary through CEE’s underwriting guidelines. CEE’s decision shall be final. Appeals can be made to the City of Mounds View. Work Completion: All work must be completed within 120 days of the loan closing. However, when warranted, CEE may authorize exceptions on a case by case basis. Exhibit A8 Page 6 Agreement between the City of Mounds View and Center for Energy and Environment Eligible Project Expenses will be determined by a Home Energy Squad Visit or City Inspector. Improvements include, but are not limited to: • Insulation • Heating and Air Conditioning Replacement • Plumbing work needed to address leaks • Underbelly repair as needed • Safety, code or emergency improvements deemed necessary by a City Inspector Ineligible Project Expenses: • Projects NOT listed as an Eligible Project Expense • Must not be part of an Insurance Claim Minimum Project Size: Eligible Project Expenses must total at least $1,000 to qualify for a grant. Grant Amount: • Up to $10,000 Multiple Grants: NOT permitted. Only one Grant per property Eligible Properties: Owner-occupied Manufactured Homes located in the Mounds View Manufactured Home Park (2026). Properties held in a Trust and properties may be held in a Contract for Deed. Ineligible Properties: Manufactured Homes that are not in the Monds View Manufactured Home Park and non-owner occupied properties. Eligible Recipients: All recipients must own and occupy the property and be a legal resident. Verify ownership with a copy of the Title and Property Tax Statement. Ineligible Recipients: Including but not limited to: Businesses, Non-Occupant Co- Borrowers and non-legal residents of the United States. Income Limit: The property owner’s household income shall not exceed 30% AMI Income will be determined by the adjusted gross income on the most recent Federal Tax Return. If a tax return is not required, income will be determined by the projected gross income for the upcoming 12 months. LAHA Manufactured Home Grant Program Exhibit A8 Page 7 Agreement between the City of Mounds View and Center for Energy and Environment Credit Requirements: 1) All mortgage/lien payments must be current, 2) All real estate taxes must be current 3) No defaulted government loans, tax liens or child support Bids: Only one 1 estimate is required. All contractors must be properly licensed or registered. Sweat Equity / Homeowner Labor: Work may be performed by property owners on a “sweat equity” basis, but only the purchase of materials and rental of tools or equipment will be considered an Eligible Project Expense. Recipient Paid Fees: None Deadline for Work Completion: All work must be completed within 120 days of the grant closing. Extensions may be granted by CEE due to weather or similar factors. General Program Conditions Application Processing: Loans and Grants will be distributed on a first come first serve basis as applicants qualify. Applicants must provide a completed application package including the following in order to be considered for funding.  Completed and signed application form  Proof of income  Bids or estimates for proposed projects  Other miscellaneous documents CEE may require Contractors/Permits: Contractors must be properly licensed. Permits must be obtained when required by City ordinance. Program Costs: Loan origination, post installation inspection and remodeling advisor visit fees will be paid per the Program Budget. Loan program marketing efforts will be billed directly to the City of Mounds View EDA and is a separate expense should the City of Mounds View EDA choose to commission CEE for marketing support. Borrowers will pay all mortgage filing fees and related closing costs. Total Project Cost: It is the borrower’s responsibility to obtain the amount of funds necessary to finance the entire cost of the work. In the event the final cost exceeds the original loan or grant amount, the borrower must obtain the additional funds and show verification of the additional funds in order to be approved for the loan. Disbursement Process: Payment to the contractor (or owner in sweat equity situations) will be made upon completion of work. An inspection will be performed by a City Inspector and/or CEE to verify the completion of the work. The following items must be received prior to final disbursement of funds: • Final invoice or proposal from contractor (or materials list from supplier); • Final inspection verification by a City Inspector (or CEE); • Completion certificate(s) signed by borrower and contractor; • Lien waiver for entire cost of work; and • Evidence of City permit (if required).