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l 4\i, <br /> Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 8.2 <br /> Agenda Section Meeting Date Prepared by <br /> Workshop March 7,2016 Amanda Othoudt, EDD <br /> Item Description Reviewed by <br /> Allocation of Funding for the Blighted Properties Cal Portner, City Administrator <br /> Forgivable Loan programs. Reviewed by <br /> Action Requested <br /> Receive information on the Blighted Properties Forgivable Loan Programs and discuss funding <br /> allocation. <br /> Background/Discussion <br /> The HRA approved the Blighted Properties Forgivable Commercial and Industrial Loan program on <br /> September 8, 2015, the Blighted Properties Forgivable Residential Loan program on February 1,2016. <br /> To support both of these programs,it is appropriate to set a predetermined amount of reserves from the <br /> HRA fund balance. As of March 3, 2016, the HRA has a fund balance of approximately$1 million. <br /> Attachments <br /> • Blighted Properties Forgivable Commercial and Industrial Loan Program <br /> • Blighted Properties Forgivable Residential Loan Program <br /> iVila'N <br />