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City of <br /> Elk Special Meeting of the Elk River <br /> River Housing and Redevelopment Authority <br /> Held at the Elk River City Hall <br /> Monday, August 3, 2020 <br /> Members Present: Chair Larry Toth, Commissioners Denny Chuba, chelle Eder,Nate Ovall, <br /> and Jayme Swenson <br /> Members Absent: None <br /> Staff Present: Economic Development Director Amanda Othoudtand Economic <br /> Development Specialist Colleen Eddy <br /> t <br /> I. Call Meeting to Order < A* <br /> Pursuant to due call and notice thereof,the meeting of the Elk River Housing and <br /> Redevelopment Authority was called t rder at 4:30 p.m,. by Chair Toth. <br /> 2. HRA 2021 Budget and Budget Goals <br /> Ms. Othoudt presented the staff report. Ms. Othoudt in ic"ed she will have the estimated <br /> market value by the September 7 meeting and will be able to provide levy options at that <br /> time. Ms. Othoudt explained the HRA can levy the previous rate,balanced rate, or <br /> maximum rate. The commission discussed if reserves could help fund the difference <br /> between the 2020 and 2021 proposed expenditures instead of levying to avoid raising taxes. <br /> Ms. ch c?�that. <br /> 4`'- <br /> Ms. 0thoudt presented the budget. The commission felt comfortable with the proposed <br /> 145,000 for property acquisition,noting they at used approximately$500,000 towards the <br /> Main and Gates redevelopment.This amount will allow them to act on purchasing an <br /> additional property in the block. The commission discussed adjusting lines item for the Main <br /> and Gates property maintenance and decided to leave them as proposed. <br /> Ms. Othoudt explained the changes to the Contractual Services line items,noting the <br /> $150,000 would fund 6 CEE loans, and modified the breakdown of the CEE Administrative <br /> Fee to this fund, originally in Other Professional Services. She discussed how leveraging <br /> other program dollars along with our HRA loan program was able to help Elk River citizens <br /> and complimented CEE on assisting in this. She also noted how helpful CEE has been in <br /> administrating this loan program. She stated she did not budget additional funds for the <br /> blighted properties program because there are available funds which should cover 3 <br /> properties. Chair Toth asked if additional funds could be added if there were more than 3 <br /> blighted properties to consider. She stated she felt 3 properties was a very approachable <br />