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Housing and Redevelopment Minutes Page 2 <br /> March 1,2021 <br /> ----------------------------- <br /> b. Public Hearings <br /> There were no public hearings. <br /> 7.1 HRA Rehabilitation Loan Program Update <br /> Ms. Eddy presented the staff report. <br /> 7.2 Discuss Main/Gates Redevelopment <br /> Ms. Eddy presented the staff report. She updated the commission that she requested from <br /> legal counsel the legal options the HRA has with the last remaining homeowner who <br /> remains in the redevelopment area and noted there are a few options. She did send the <br /> homeowner a letter today requesting a meeting with city staff. <br /> Commissioner Chuba stated after the HRA special meeting, he was thinking about the <br /> suggested option of the efficiency apartments. He explained he did not know how much the <br /> building would cost to construct or what the revenue stream would be,but he felt it might <br /> mean that if the HRA provided a significant financial support towards the project, they <br /> should be prepared to not receive their contribution back immediately. He stated he has not <br /> run the numbers but a project like this might require a fair amount of subsidy to make it <br /> work. <br /> Commissioner Swenson asked for clarification of his statement. <br /> Commission Chuba stated if the goal were an efficiency apartment, the project would have <br /> to have some sort of incentive to keep rents low. <br /> Commissioner Swenson stated her idea on an executive studio was for people traveling <br /> through the area to stay temporarily as the location is near several airports and is walkable. <br /> Chair Toth apologized for being late for tonight's meeting and stated although he was not at <br /> the special meeting,he understood the specific things the HRA has in mind for this area. He <br /> stated he would also like to see what developers will be proposing and would feel more <br /> comfortable having developer insight and ideas before making a final decision. <br /> Commissioner Chuba stated he felt the HRA was very open to hearing from developers and <br /> felt they were at a point to seek feedback from developers. <br /> Commissioner Wagner agreed and felt the commission vetted out what they would like to <br /> see but agreed that developers could provide an interesting vision. She felt after that, the <br /> HRA could determine incentives. <br /> Ms. Eddy stated staff will be putting together the developer's forum to get feedback and <br /> then move forward with that information for an RFP. <br /> Commissioner Chuba asked what the timeframe would be to have the forum. <br />