Resolution No. 2023-14, Authorizing Transfer of Loan Portfolio from CRF to CEE for the Purpose of Servicing Loan Portfolio
Resolution No. 2023 – 14
Authorizing Transfer of Loan Portfolio from Community Reinvestment Fund (CRF) to the
Center for Energy & Environment (CEE) for the Purpose of Servicing Loan Portfolio
Whereas, the Housing and Redevelopment Authority in and for the City of Fridley (“Authority”)
established a Revolving Loan Fund (RLF) in 1996; and
Whereas, the Authority entered into an agreement with the Center for Energy & Environment to
process loan applications, underwrite, close on loans, and disburse loan funds; and
Whereas, the Authority entered into an agreement with the Community Reinvestment Fund (CRF)
to service the loans; and
Whereas, the Community Reinvestment Fund (CRF) provided notice to the Authority that their
organization will no longer be servicing loans; and
Whereas, the Center for Energy & Environment has the ability and capacity to service the
Authority’s revolving loan fund portfolio.
Now, therefore be it resolved, that the Authority hereby approves and authorizes the transfer of
their loan portfolio to the Center for Energy and Environment for the purpose of servicing the loans.
Passed and adopted by the Housing and Redevelopment Authority in and for the City of
Fridley this 7th day of September, 2023.
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Elizabeth Showalter – Chairperson
Attest:
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Walter T. Wysopal – Executive Director