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Housing and Redevelopment Minutes Page 3 <br /> September 8,2015 <br /> Commissioner Toth questioned how the increase in tax base would be determined,by <br /> redeveloping the property. Ms. Othoudt stated that staff works very closely with the County <br /> Assessor on all projects the city is involved in to estimate taxes. <br /> Commissioner Kuester asked if blighted properties can be vacant buildings or properties that <br /> already have the building(s) torn down. Ms. Othoudt stated either situation can be <br /> determined to be blighted. Commissioner Kuester stated that a smaller property may have <br /> difficulty meeting the requirement to create 5 new jobs, and she felt some flexibility in the <br /> number of jobs may be needed. Commissioner Burandt stated that the number of jobs was <br /> not reduced when they reduced the amount of the program from$200,000 to $75,000. Ms. <br /> Othoudt indicated that the program allows for the applicant to apply for$15,000 in loan <br /> dollars for every 1 job created. The applicant would need to create 5 new jobs to qualify for <br /> the maximum loan amount. <br /> Chair Wilson stated that he supported the requirement for job creation. Commissioner <br /> Burandt suggested the number could be based on the size of the business. Commissioner <br /> Toth stated he also supported job creation. <br /> Discussion followed regarding job creation. <br /> Commissioner Kuester asked if the time limit for completion of the job, since demolition <br /> would take longer. Ms. Othoudt stated that the "clock would start ticking"at the time of <br /> closing on the building,regardless of whether it was an existing building or a new building. <br /> Motion by Commissioner Chuba and seconded by Commissioner Burandt to <br /> approve the HRA Blighted Properties and Forgivable Commercial/Industrial Loan <br /> Program Policy and Application as presented. Motion carried 4-1. Commissioner <br /> Kuester abstained. <br /> 8.1 Announcements—None <br /> 9. Adjournment <br /> There being no further business, Chair Wilson adjourned the meeting. The meeting <br /> adjourned at 6:07 p.m. <br /> Minutes prepared by Debbie Huebner. <br /> Tina Allard, City Clerk <br /> Stewart Wilson, Chair <br /> Housing&Redevelopment Authority <br />