08-05-2019 HRA MIN SPECIAL - Laserfiche WebLink

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