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Special Meeting of the Elk River <br />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, Michelle Eder, Nate Ovall, <br />and Jayme Swenson <br />Members Absent: None <br />Staff Present: Economic Development Director Amanda Othoudt and Economic <br />Development Specialist Colleen Eddy <br />I. Call Meeting to Order <br />Pursuant to due call and notice thereof, the meeting of the Elk River Housing and <br />Redevelopment Authority was called to order at 4:30 p.m. by Chair Toth. <br />2. HRA 2021 Budget and Budget Goals <br />Ms. Othoudt presented the staff report. Ms. Othoudt indicated 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. Othoudt will check on that. <br />Ms. Othoudt 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 />