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hi Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 7.2 <br /> Agenda Section Meeting Date Prepared by <br /> General Business January 4, 2016 Amanda Othoudt, EDD <br /> Item Description Reviewed by <br /> HRA Blighted Properties Residential program Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Approve,by motion,the Blighted Properties Forgivable Residential Loan program and policy. <br /> Background/Discussion <br /> After several discussions and workshop sessions over the past year, the HRA directed staff to develop a <br /> program to meet the untapped need for assistance with demolition and other redevelopment activities <br /> when either there is no current development plan or where future development visions are hindered by <br /> current blight. <br /> At the last HRA work session,members and staff discussed the changes to the policy to reflect a <br /> standardized definition of"blight." The changes are reflected in the attached document that defines <br /> blight as "structurally substandard" defined per MN State Statue 117.025, Subdivision 7. <br /> It was the consensus of the HRA to seek formal approval of this new program at their next HRA <br /> meeting. <br /> The Blighted Properties Forgivable Residential Loan program will be the third program and policy <br /> offered by the HRA to help assist in the removal and/or redevelopment of blighted properties in the <br /> community. <br /> Financial Impact <br /> None <br /> Attachments <br /> • Final HRA Blighted Properties &Forgivable Residential Loan program. <br /> 1P-111111111 11 <br /> INATURE <br />