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Housing and Redevelopment Minutes Page 3 <br /> July 6,2015 <br /> the property. Chair Wilson added that the goal is to achieve more stability in a <br /> neighborhood. <br /> Ms. Othoudt suggested forgiveness of the loan 5 years after completion of the project. <br /> Chair Wilson stated that he would like to defer a decision on the loan programs to the <br /> September meeting,since two commissioners were absent. <br /> Ms. Othoudt noted that a couple of businesses have approached her that are very interested <br /> in the commercial demolition program to redevelop a couple properties in Elk River. <br /> Chair Wilson stated that he would prefer to wait to review the programs again next month <br /> with a full Commission present before making a decision whether or not to approve the <br /> proposed programs. <br /> 7.5 Blighted Properties Demolition and Forgivable Commercial/Industrial Loan <br /> The staff report was presented by Amanda Othoudt. She reviewed changes made as a result <br /> of last month's HRA meeting discussion. Chair Wilson stated he supported the$75,000 <br /> limit,since$200,000 could eat up the funding dollars very quickly. <br /> Commissioner Burandt asked how the number of jobs and hourly wage requirement was <br /> determined. Chair Wilson stated these numbers were recommended by their consultant. <br /> Ms. Othoudt added that these numbers are consistent with the city's other microloan <br /> programs. <br /> 8.1 Announcements <br /> Chair Wilson noted that the HRA project to install new lighting on the trees in the <br /> downtown has been completed. He noted that there are more lights and they are much <br /> brighter than previously. <br /> 9. Adjournment <br /> There being no further business,Chair Wilson adjourned the meeting. The meeting <br /> adjourned at 6:15 p.m. <br /> Minutes prepared by Debbie Huebner. <br /> Tina Allard,City Clerk <br /> Stewart Wilson,Chair <br /> Housing&Redevelopment Authority <br />