4.1. DRAFT HRA MINUTES (2 SETS) 07-05-2022

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Housing and Redevelopment Minutes Page 2 June 6, 2022 ----------------------------- 6. Public Hearings There were no public hearings. 7.1 HRA Housing Rehabilitation Loan Update Mr. O’Neil presented the staff report. He explained he would like to continue to do a more sustained run of advertising in both the newspaper and web-based for the loan program. He indicated the first round of analytics from the web ad showed out of 10,000 web page impressions, they received 5 click-throughs to CEE, which does not sound like a lot, but it is actually promising. He’ll continue to do 4 weeks of advertising in the summer and 4 weeks in the fall, with the goal to strike the balance between online advertising and in-print. He noted the web ad is more affordable than the print ad. Commissioner Ovall suggested placing an insert in the Star News or in with resident’s utility bills with a partnership through ERMU for direct impact to residents. Commissioner Swenson suggested a booth at the Sherburne County Fair. Mr. O’Neil was not sure about the fair, but he indicated they have been at the Farmer’s Market. Mr. O’Neil stated he would like to take more exhaustive review of the programs we offer. He asked the HRA to consider one adjustment presently: raising the current $25,000 lending limit to $35,000 limit. CEE would be able to modify this very easily. $150,000 is allocated program-wide for 2022. Commissioner Ovall is a little torn on this decision but realizes the increase is not a huge amount. He reminded the HRA that the purpose of this program is to help residents qualify for a loan that wouldn’t be typically financed in the traditional financial market. He worries a little bit about the conflict of competing with the banks, but what is our mission from the HRA standpoint. He does understand costs have increased and now considering the current economic market, this loan rate and increased lending amount will be very competitive. Moved by Commissioner Chuba and seconded by Commissioner Swenson to approve the modification of maximum loan limits for the Housing Rehabilitation Loan managed through CEE from $25,000 to $35,000 effective immediately. Motion carried 5-0. 7.2 Update on Placer.ai Mr. O’Neil presented the staff report. He asked if the HRA was interested in financially contributing a portion of the annual subscription cost with the EDA, who recently voted to approve purchase of a one-year subscription.