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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 llreparejXb eb `�e Huebner. <br />Tina Allard, City Clerk <br />Stewart Wilson, Chair <br />Housing & Redevelopment Authority <br />