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Housing and Redevelopment Authority Minutes <br />May 6, 2024 <br />--------- <br />Page 2 of 4 <br />Commissioner Wagner arrived at 5:35 p.m. <br />6.1 Housing Rehabilitation Loan Program Update <br />Mr. Mollan presented the staff report. He noted an ad was placed in the Spring Home Improvement <br />section of the Star News promoting the loan program funds. <br />Commissioner Ovall asked if the loan program interest rate should be raised to be in line with the <br />current market, noting that prime is currently at 8.5%. <br />Mr. O'Neil stated the HRA can review the loan program policy at any time to discuss changing the <br />interest rate. <br />Chair Chuba stated he doesn't feel it's necessary to raise the interest rate, and felt it was a benefit to <br />the residents to have a lower rate. <br />Commissioner Caswell asked about the loan criteria for the loan program. <br />Mr. O'Neil explained the criteria. He asked that the upcoming utility mailer highlight the low interest <br />rate of 4%. <br />6.2 Placer.ai Renewal <br />Mr. Mollan presented the staff report. <br />Commissioner Ovall asked if the data from Placer.ai is available to outside users or strictly staff. <br />Mr. Mollan indicated only staff are allowed the use of the software and sometimes staff shares <br />information with outside entities. <br />Mr. O'Neil stated the license agreement restricts the usage to staff only. <br />Moved by Commissioner Lynn Caswell and seconded by Commissioner Nate Ovall to <br />approve a one-year renewal of the Placer.ai subscription. Motion Carried 5-0. <br />6.3 State Affordable Housing Aid <br />Mr. O'Neil presented the staff report. He indicated future work sessions would be held for the HRA to <br />develop programs to provide funds to support affordable housing initiatives. <br />6.4 Furniture Placement at 724 Main Street <br />Mr. O'Neil presented the staff report and stated the agreement is being finalized. He ask the HRA to <br />approve the placement of the outdoor furniture, stating it was important to recognize the efforts of our <br />community partners and the furniture will be a nice amenity to this area. <br />Moved by Commissioner Jennifer Wagner and seconded by Commissioner Mel Beaudry to <br />approve placement of outdoor furniture at 724 Main Street by Furniture and Things (FT), <br />Plants and Things (PT), and the Downtown Business Association (DERBA) for public use DRAFTPage 4 of 65