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<br />Request for Action <br /> <br /> <br />To Item Number <br /> <br />Housing Redevelopment Authority 4. <br />Agenda Section Meeting Date Prepared by <br /> <br />General BusinessSeptember 29, 2015Amanda Othoudt, EDD <br />Item Description Reviewed by <br />HRA Strategic Plan Workshop Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br /> <br />Information presented for discussion only. Action is to be taken at the October 5, 2015, HRA meeting. <br /> <br />Background/Discussion <br /> <br />Staff has included the Blighted Properties Commercial/Industrial Forgivable Loan program as approved <br />by the HRA on September 8th and subsequently the City Council on September 21. Staff would like to <br />discuss the recently approved commercial/industrial program, and the amount of funds to be allocated <br />towards this program from the HRA reserves. <br /> <br />Also, included in the packet is the HRA Blighted Properties Residential Forgivable Loan program as <br />discussed at the September 8th HRA meeting with the following changes and additions: <br /> <br /> <br /> <br />Awarding Loans: Removal of the former scorecard. <br /> <br /> <br />Addition of an Application Review Worksheet (Staff Scorecard). <br /> <br /> <br />Addition of an Attachment Checklist. <br /> <br /> <br />Financial Information: Changes to the language and financial information obtained for loan <br />purposes. <br /> <br />Staff will present the final HRA Blighted Properties Residential Forgivable Loan program to the HRA on <br />October 5 and subsequently to the City Council for final approval on October 19. <br /> <br /> <br />Financial Impact <br /> <br />To support this program, the HRA would appropriate a predetermined amount of reserves from the <br />HRA fund balance at the October 5 meeting for each program separately. As of September 25, 2015, the <br />HRA has a fund balance available for Housing and Redevelopment purposes of approximately $1 million. <br /> <br />Attachments <br /> <br /> <br /> <br />HRA Blighted Properties Commercial/Industrial Forgivable Loan Program <br /> <br /> <br />HRA Blighted Properties Residential Forgivable Loan Program <br /> <br />