Community and Board Vote on Home Loans – November 19th

At the next LHENA Board meeting, Wednesday November 19th, the Board will be voting on updates to the Home Loan Program.  The following is the outline of proposed new loans.

Commercial Property Improvement Loan:

Proposed Loan Terms
• Loan amounts from $2,500 – $30,000
• 3% fixed interest rate (APR 3.014%) APR based on $10,000 for 15 years at 3%.
• A match is required. The matching loan will provide a 1 to 1 match of the eligible improvement costs up to a maximum loan amount of $30,000.
• No Income Limits
• The loan is secured by a personal guarantee from the property owner or partnership.
• Closing costs apply
Property Eligibility
• Commercial properties located in the Lowry Hill East Neighborhood
• Properties under construction or held in Trust are not eligible
Types of Improvements
• Eligible improvements include those those that address health and safety, and energy efficiency, including correcting building code violations, awnings, tuck pointing, painting exteriors, roofs, installation of windows, doors, HVAC, insulation, hot water heaters and ADA and OSHA required improvements for accessibility
• 2 bids are required from qualified, licensed contractors for projects over $5,000.
• Funds are held in a non-interest escrow bearing account at CEE from loan closing until the work is completed and all final documentation is received.

Historic Deferred Matching Property Improvement Loan:

Proposed Loan Terms
• Loan amounts from $2,500 – $10,000
• 0% fixed interest rate (APR 0.158%) APR based on $5,000 for 5 years at 0%.
• A match is required. The matching loan will provide a 2 to 1 match of the eligible improvement costs up to a maximum loan amount of $30,000.
• No Income Limits
• The loan is secured by a mortgage
• Closing costs apply
• All improvements must be approved by the LHENA Historic Committee before closing
Property Eligibility
• Owner-occupied and absentee owned historic residential properties located in the Lowry Hill East Neighborhood
• Residential properties with 4 units or less
• Properties under construction or held in Trust are not eligible
Types of Improvements
• Eligible improvements include those that repair or replace the historic character and integrity of the home including painting of repaired surfaces, soffits fascia and trim work, Porches, Stucco & Siding, windows, gutters, Chimneys, tuck pointing, and fencing
• 2 bids are required from qualified, licensed contractors for projects over $5,000.
• Funds are held in a non-interest escrow bearing account at CEE from loan closing until the work is completed and all final documentation is received.

Low-Interest Home Improvement Revolving Loan:

Loan Terms
• Loan amounts from $2,500 – $30,000
• 3% fixed interest rate (APR 3.014%) APR based on $10,000 for 15 years at 3%.
• No income limits
• Terms up to 15 years
• This loan is secured by a mortgage on the property
• Closing costs apply
Property Eligibility
• Owner-occupied, absentee-owned residential properties located in the Lowry Hill East neighborhood
• 1-4 units
• Properties under construction or held in Trust are not eligible
Types of Improvements
• Eligible improvements include most interior or exterior improvements to the home or garage Including: Decks, windows, siding, roofs, fences, rain gardens, kitchen and or bath remodels, additions. Energy efficiency improvements include solar panels, high efficiency furnaces, insulation, weather stripping, and hot water heaters.
• 2 bids are required from qualified, licensed contractors for projects over $5,000.
• Funds are held in a non-interest escrow bearing account at CEE from loan closing until the work is completed and all final documentation is received.
Green/Exterior Matching Deferred Loan:

Proposed Loan Terms
• Loan amounts from $500 – $4,000
• A match is required. The matching deferred loan will provide a 1 to 1 match of the eligible improvement costs up to a maximum loan amount of $4,000.
• 0% fixed interest rate (APR 0.158%)* *APR based on $5,000 for 5 years at 0%.
• No Income Limits
• Loan is 100% forgiven after 5 years of consecutive ownership of the eligible property
• This loan is secured by a mortgage on the property
• Closing costs apply
Property Eligibility
• Owner-occupied and absentee owned residential properties located in the Lowry Hill East Neighborhood
• 1-4 units residential properties
• Properties under construction or held in Trust are not eligible
Types of Improvements
• Eligible improvements include those those that address health and safety, energy efficiency, and basic livability deficiencies including painting exteriors, replace or build new decks, roofs, garages, fences, installation of windows, doors, HVAC, insulation, and hot water heaters.
• 2 bids are required from qualified, licensed contractors for projects over $5,000.
• Funds are held in a non-interest escrow bearing account at CEE from loan closing until the work is completed and all final documentation is received.

Multi Unit Greater Than 4 Unit Matching Property Improvement Loan:

Proposed Loan Terms
• Loan amounts from $2,500 – $30,000
• 3% fixed interest rate (APR 3.014%) APR based on $10,000 for 15 years at 3%.
• A match is required. The matching loan will provide a 1 to 1 match of the eligible improvement costs up to a maximum loan amount of $30,000.
• No Income Limits
• The loan is secured by a personal guarantee from the property owner or partnership.
• Closing costs apply
Property Eligibility
• Owner-occupied and absentee owned residential multifamily properties located in the Lowry Hill East Neighborhood
• 4 or greater unit residential properties
• Properties under construction or held in Trust are not eligible
Types of Improvements
• Eligible improvements include those those that address health and safety, energy efficiency, and basic livability deficiencies including painting exteriors, roofs, fences, installation of windows, doors, HVAC, insulation, and hot water heaters.
• 2 bids are required from qualified, licensed contractors for projects over $5,000.
• Funds are held in a non-interest escrow bearing account at CEE from loan closing until the work is completed and all final documentation is received.

 

 

 

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LHENA Halloween Fun at Mueller Park!

Lowry Hill East Neighborhood Association INVITES YOU TO
HALLOWEEN FUN
IN THE
PARK
TRICKS AND TREATS FOR LITTLE AND BIG KIDS!

Sunday, 26 October, 2014 * 3pm-5pm
Mueller Park – 2509 Colfax Ave S * Rain or Shine

 3pm Costume Parade around the Park Block
 3.45pm Caramel & Apples with Ice Cream & Hot Apple Cider
 4pm Cookie Decorating from Cookie Cart
________________________________________________________________________________________________________
LHENA 2014 EVENT CALENDAR Keep an eye out for these events!
 November Fundraiser: Dine-Out for LHENA (location & time to be announced)
 6 November, Thursday 6pm-8pm LHENA New Office Open House Intermedia Arts Hub West
 17 December, Wednesday 6pm-9pm Annual Holiday Party & Donation Drive for Jefferson Students (gently new or used:hats,mittens,boots,coats,kids size 5 to adult small) at Williams Pub
 Committee and Board Meetings at Jefferson Community School LHENA Contact: Kristina Erazmus wedgecoordinator@gmail.com
 Follow us on facebook and Twitter for news and events

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Oct 11 Allan Spear LGBT Equality Colonnade Dededication

Join friends and neighbors for the dedication of the Allan Spear LGBT Equality Colonnade in Mueller Park on Saturday, October 11, at 11:00 a.m. rain or shine! Peers of Allan and neighbors will speak. Light refreshments will be served.

Allan Spear was a former state Senate president who was one of the first openly gay male legislators in the U.S.  Spear is renowned for his monumental efforts in the passage of the Human Rights Act in 1993, which protected LGBT Minnesotans from discrimination.  He lived less than a block from the Colonnade site for decades.

Spear served 28 years in the Minnesota Senate and was its president from 1992–2000. In 2008, the Minnesota Historical Society named Spear as one of the most influential 150 people in the state as part of Minnesota’s Sesquicentennial celebration.

LGBT activists from Join the Impact-Twin Cities have planned and raised money for the project over the past two years.  People for Parks has been helpful in assisting the group by acting as the fiscal agent for this project.  The LHENA Board unanimously supported the plan in May 2011, followed by the full Minneapolis Park and Recreation Board.

With design help from TangleTown Gardens, plantings have been completed by JTI volunteers.

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Community Vote!

LHENA will be holding a community vote at the next Board meeting for the Neighborhood Priority Plan ( NPP).  Residents will be voting on priorities established by the Dot-mocracy survey.  The result of the community vote will help LHENA move forward on projects based on community input.  This is a great way to have your voice be heard.  Hope to see you there!

Wednesday October 15th, 6:30 at Jefferson Community School  – Lunchroom. ( 1200 West 26th Street )


Lowery Hill Residents East will be eligible to vote.  All are welcome!

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Survey Results

At the 2014 Lowry Hill East Neighborhood Association annual meeting, residents of the neighborhood who attended were given six sticker dots and one star to indicate what issues were important to them. The star indicated the issue of most importance. In all, 798 dots and 91 stars were placed. Thank you to all who participated in this “Dot-Mocracy voting” at the annual meeting!

The results of this democracy-style voting identified the following “LHENA Top 6″ as the most important issues to the neighborhood residents who voted:
1. Development and Rezoning
2.Bikes, Pedestrians, Traffic and Streets
3.Improve Infrastructure
4.Environment
5.Parks
6. Improve Housing Stock

The LHENA “Top 6″ issues were then presented to the community via a rank -style survey on Survey Monkey.  Here are the results of the survey.  Thank you to all who participated!  LHENA will be using these results to guide priorities for the Neighborhood Priority Plan.   The community will be voting on these priorities in October.

https://www.surveymonkey.com/results/SM-2V6KC3DL/

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Environment Committee Meeting

The new Environment Committee will meet tonight!  Wednesday Sept. 24th at 6:30 at Jefferson Community School – 2600 West 26th Street – in the Media Center.

On tonight’s agenda : the committee is looking for ideas for neighborhood projects.  Bring your ideas!  This is a great and easy way to see you ideas come to fruition on a grass-roots level.  All are welcome.  Hope to see you tonight!

Call to Order
— Recognize founding board members, chair
– Approval of Agenda
– Announcements
— RRO Summary Available
– Old Business (N/A)
– New Business
— Open the floor for nominations for new chair
— Room Reserved for Next meeting?
— Open floor for possible projects
— Previously Suggested ideas
— LEHNA projects from dotmocracy survey
— Uptown cleanup
— Seminars on clean up, ash tree, rain and corner gardens
– Adjourn

Questions? Contact wedgecoordinator@gmail.com

 

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By-law change

At the September 17, 2014 LHENA board meeting all voting members of LHENA will vote on a by-law change to allow email voting by the LHENA Board. The primary purpose for the proposed by-law change is to allow meeting minutes to be approved and posted in a timely manner. Items voted on by email will be included in the next month’s meeting minutes

Sec. 5.05 Remove language:
If an action of the Board is required without a regular or special meeting, a motion must be made in writing, approved by written signature by a 2/3 majority and signed by all available Board members. Written notice must be delivered 48 hours in advance for the motion to take effect.

Sec 5.05 New language:
This organization recognizes that authenticated electronic communication which meets the requirements of this section may legally satisfy written record and signature requirements necessary for valid records, signatures, and contracts. Authenticated communications are those communications that set forth information from which the organization can reasonably conclude that the communication was sent by the purported sender and are delivered to the principal place of business of the organization, or to an officer or agent of the organization who is authorized by the organization to receive the communication.

Any action that may be taken by the Board of Directors may be taken without a meeting, when authorized in writing by 2/3s of the Directors. Any action required or permitted to be taken at a Board meeting may be taken by written action signed by the number of Directors that would be required to take the same action at a meeting of the Board of Directors at which all Directors were present. All Directors entitled to vote shall be notified immediately of the action’s text and effective date. The failure to provide such notice, however, shall not invalidate such written action. A Director who has not signed or consented to the written action has no liability for the action or actions taken thereby. A written action is effective when it is signed by all of the Directors required to take the action unless a different effective time is provided in the written action. Any action taken without a meeting will be presented as such in the Minutes of the next full Board Meeting immediately following the action.

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