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Housing and Redevelopment Minutes Page 3 <br />February 4, 2019 <br />----------------------------- <br /> <br />Motion carried 4-0. <br /> <br />8.3 2018 Annual Report <br /> <br /> Ms. Othoudt presented the staff report and distributed copies of the PowerPoint <br />presentation. <br /> <br />8.4 HRA Housing Rehabilitation Loan Program <br /> <br /> Ms. Othoudt presented the staff report. She indicated the loans currently serviced through <br />CMHP will be transferred to CEE and an agreement would be drafted and reviewed by the <br />HRA at a future meeting. <br /> <br />Chair Ovall suggested the bracketed sentences in red under Loan-to-Value Ratio on page 3 <br />of Exhibit A, Program Guidelines, be struck. The HRA concurred. <br /> <br />Motion by Commissioner Ovall and seconded by Commissioner Chuba to approve <br />the loan origination agreement with CEE as outlined in the staff report. <br /> <br />Motion carried 4-0. <br /> <br />Motion by Commissioner Ovall and seconded by Commissioner Chuba to approve <br />the program guidelines for the HRA Rehab Loan Program as outlined in the staff <br />report with the amendment as outlined above. <br /> <br />Motion carried 4-0. <br /> <br />Motion by Commissioner Ovall and seconded by Commissioner Eder to approve the <br />Loan Servicing Contract with CEE as outlined in the staff report. <br /> <br />Motion carried 4-0. <br /> <br />Motion by Commissioner Chuba and seconded by Commissioner Eder to approve <br />the Subordination agreement and policy as outlined in the staff report. <br /> <br />Motion carried 4-0. <br /> <br />8.5 Business Subsidy Agreement <br /> <br /> Ms. Othoudt presented the staff report. <br /> <br /> HRA review the business subsidy policy and approve changes. <br /> <br />Motion by Commissioner Eder and seconded by Commissioner Chuba to approve <br />the Business Subsidy Agreement as outlined in the staff report. <br /> <br />Motion carried 4-0. <br /> <br />