03-02-2015 HRA MIN - Laserfiche WebLink

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Housing and Redevelopment Minutes March 2, 2015 Page 2 The Housing and Redevelopment Authority recessed at 5:37 p.m. in order to go into a work session meeting. The meeting reconvened at 5:39 p.m. 6.1 Housing Tax Increment Financing Policy Mr. Barnhart presented the staff report. Commissioner Burandt would like to see housing resources for people starting out with entry level jobs and lower income levels. Mr. Barnhart stated TIF has not been used for that purpose in past because other funding sources available for people who fall into that group. (Commissioner Toth arrived — 5:44 p.m.) Commissioner Chuba stated he is not sure housing fits into the TIF program because typically residential housing does not create long term jobs. Mr. Barnhart agreed housing projects are challenging. He explained the job creation requirement is not mandatory of housing TIF and can be changed if that is the desire of the HRA. Mr. Barnhart outlined changes he would like to see to the program including deduction of points if project is not 100% pay as you go TIF, rehabilitation of existing housing, housing stock, and maximum utilization of existing infrastructure weighted more heavily, and the total application based on 50 points. Discussion took place on using TIF for the construction of apartment buildings and blighted housing. Mr. Barnhart noted a separate TIF is available for blighted properties. Mr. Barnhart indicated he would come back with changes based on HRA feedback. The HRA concurred. 6.2 Demolition Program Ms. Eddy presented the staff report. Discussion took place on the program. Each commissioner had a little different idea of how the program would work. Ms. Eddy stated staff will do more research on details of the program and how it has been utilized and report back. 7. Adjournment There being no further business, Vice Chair Toth adjourned the meeting of the Elk River Housing and Redevelopment Authority at 6:25p.m. [INA"El