04-07-2025 HRA MIN - Laserfiche WebLink

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Housing and Redevelopment Authority Minutes April 7, 2025 Page 3 of 4 Commissioner Dietz asked questions about the trust funds and how they're invested and when the funds have to be spent. Mr. O'Neil will check to see if it can be invested. He stated they have until the end of 2027 to spend the first allocation the city has received. Commissioner Ovall asked about providing emergency funds for residents, such as Elk River Municipal Utilities customers, or catastrophic repairs. Commissioner Dietz stated this was timely as many residents don't realize homeowners own the water line out to the street and the cost of repairs is high. Mr. O'Neil stated commercial properties wouldn't qualify, but residential would if it affects essential services to the residents. Commissioner Ovall asked about the excess cash on hand. Commissioner Dietz liked the options presented and have the HRA continue discussing the fourth option of funds. Commissioner Ovall felt the fourth option of funds could be dispersed into the other three fund options. Mr. O'Neil stated the $25,000 for Habitat for Humanity was an initial amount and excess funds could be used for future lot purchases. It was the consensus of the HRA to bring in a representative from Habitat for Humanity to discuss their project, and continue discussions on how to best distribute these funds. 6.4 General Updates Mr. O'Neil presented the staff report. - Small Area Downtown Plan open house will be April 22. - Staff will work with DERBA on an agreement to place the picnic tables and large chair downtown. - Hanging baskets will be arriving soon. - Main and Gates: siding, working on finding a tenant that can occupy the property west of them. September will be their target open date. 7. MOTION TO ADJOURN REGULAR MEETING Moved by Commissioner Ovall and seconded by Commissioner Beaudry to adjourn the meeting. Motion carried 4-0. The meeting adjourned at 5:57 p.m. Minutes prepared by Jennifer Green.