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• MEETING OF THE ELK RIVER HOUSING AND REDEVELOPMENT <br /> AUTHORITY <br /> HELD AT THE ELK RIVER CITY HALL <br /> FRIDAY, JUNE 30 , 1995 <br /> Members Present: Chair Gene Schuldt, Commissioners Duitsman, Hinkle and <br /> Kropuenske <br /> Members Absent: Commissioner Farber <br /> Staff Present: William Rubin, Executive Director <br /> 1. Call HRA Meeting To Order <br /> Pursuant to due call and notice thereof, the meeting of the Elk River Housing and <br /> Redevelopment Authority was called to order at 7:31 a.m. by Chair Schuldt. <br /> 2. Consider June 30, 1995, HRA Agenda <br /> COMMISSIONER DUITSMAN MOVED TO APPROVE THE JUNE 30, 1995, HRA AGENDA. <br /> COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 4-0. <br /> • 3. Consider Program Application - Commitment Agreement with Minnesota Housing <br /> Finance Agency <br /> Executive Director Bill Rubin explained that at its June 5 meeting, HRA <br /> Commissioners authorized an application to Minnesota Housing Finance Agency <br /> for a reservation of funds under its Minnesota City Participation Program (a first <br /> time homebuyer program). Based on the number of requests for a reservation of <br /> MCPP funds, as well as a new population based formula, Elk River's allocation is <br /> $256,501. To finalize this reservation, Minnesota Housing Finance Agency requires <br /> the execution of a program application - commitment agreement from each <br /> respective city or HRA requesting funds. <br /> COMMISSIONER HINKLE MOVED TO AUTHORIZE THE HRA CHAIR TO EXECUTE THE <br /> PROGRAM APPLICATION - COMMITMENT AGREEMENT ON BEHALF OF THE ELK RIVER <br /> HRA. COMMISSIONER DUITSMAN SECONDED THE MOTION. THE MOTION CARRIED <br /> 4-0. <br /> 4. Authorize Payment of Fees to Minnesota Housing Finance Agency <br /> The 1995 Minnesota City Participation Program requires a one percent allocation <br /> or reservation fee plus a processing fee. Elk River's allocation fee is $2,565.01; its <br /> processing fee is$60 for a total of$2,625.01. <br /> The one percent allocation fee will be refunded to the Elk River HRA after <br /> Minnesota Housing Finance Agency completes its bond issue. <br /> • COMMISSIONER DUITSMAN MOVED TO AUTHORIZE PAYMENT OF FEES IN THE <br /> AMOUNT OF $2,625.01 TO MINNESOTA HOUSING FINANCE AGENCY TO COVER THE <br />