06-01-2015 HRA MIN - Laserfiche WebLink

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Housing and Redevelopment Minutes Page 2 June 1, 2015 ----------------------------- �f 6.1 Public Hearings - None 7.1 Rehabilitation Loan Program Update Colleen Eddy presented an update on the Rehabilitation Loan Program. She noted that the CMHP monthly report has been revised to include the addresses of the properties. 7.2 Blighted Properties Forgivable Loan Program Amanda Othoudt reviewed the staff report and draft blighted properties forgivable loan policy guidelines and application. Chair Wilson questioned why the EDA Finance Committee and City Council need to review these applications. He stated he did not see a need for adding additional layers to the process, as the process already takes 6 -8 weeks. Ms. Othoudt stated that she has a draft of the policy guidelines which eliminates EDA and City Council involvement. She noted that the city's financial advisor will thoroughly review the policy, and this program would fall under the reporting requirements. Chair Wilson stated that he felt the HRA was looking more toward residential for this program, and was not sure about giving equal priority to a commercial program. Ms. Othoudt stated it was her intention to develop a residential program as well, but that process is more involved and will take more time. Commissioner Toth asked if there would be separate funds for commercial and residential projects. Ms. Othoudt stated yes, that there is enough money to allocate funds for each. Chair Wilson agreed that they should be kept separate, as he did not want to see the funds used up for commercial and none left for residential. Commissioner Toth stated that the HRA discussed purchasing blighted properties and asked if there would be enough funds to do that, or if the funding would need to come from other sources. Ms. Othoudt explained that the funding through the CMHP and Blighted Properties program is from the same pool of funds. Commissioner Chuba stated he agreed there should be two separate funds for commercial /industrial and residential. He explained that there may be other ways a building could qualify such as being unsafe or functionality issues such as being undersized, but that was getting more into the scope of the EDA. Chair Wilson stated that blighted or unsafe falls under the scope of redevelopment, which is the HRA's focus. Chair Wilson stated that he felt the HRA's concern should be for what the city needs, whether commercial or residential. She explained that in discussions with city Fire and Building & Safety, several commercial properties were mentioned that could be considered blighted, so she was proceeding with the commercial program first. Ms. Othoudt stated that there is a need for both and it is her intention to do two separate programs. She stated that the HRA could continue their review of this item to the July meeting. Chair Wilson stated that he felt the residential program should be given priority and they should dedicate their efforts to residential first.