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<br /> <br />Special Meeting of the Elk River <br />Housing and Redevelopment Authority <br /> <br />Held at the Elk River City Hall <br />Monday, August 5, 2019 <br /> <br /> <br />Members Present: Vice Chair Dennis Chuba, Commissioners Louise Kuester and Nate Ovall <br /> <br />Members Absent: Chair Larry Toth and Commissioner Michelle Eder <br /> <br />Staff Present: Economic Development Director Amanda Othoudt, Economic <br />Development Specialist Colleen Eddy, and Deputy Clerk Jessica Miller <br /> <br /> <br />1. Call Meeting to Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Elk River Housing and <br />Redevelopment Authority was called to order at 4:33 p.m. by Vice Chair Chuba. <br /> <br />2. Consider Agenda <br /> <br /> Moved by Commissioner Ovall and seconded by Commissioner Kuester to approve <br />the August 5, 2019, special meeting agenda. <br /> <br />Motion carried 3-0. <br /> <br />3. HRA 2020 Budget and Budget Goals <br /> <br />Ms. Othoudt presented the staff report. <br /> <br /> She reviewed the performance measures. She noted the projected number of HRA <br />rehabilitation loans for 2020 is 11, which is the number necessary to recover costs associated <br />with plan administration. <br /> <br />Ms. Othoudt reviewed the HRA goals: <br /> Promote preservation of HRA housing stock <br /> Promote a vital downtown <br /> Enhance redevelopment opportunities for commercial/industrial properties <br /> <br />Commissioner Ovall indicated he does not recall how the amount of loan interest necessary <br />to recover plan administration costs was arrived at. Ms. Othoudt explained the HRA pays an <br />upfront fee for CEE to administer the loan program and it was discussed the HRA would <br />need interest from 11 rehabilitation loans to recoup the fee paid to the plan administrator. <br />She stated she will pull the minutes from this discussion late last year and provide to the <br />HRA. <br /> <br /> <br />