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City of <br /> Elk Regular Meeting of the Elk River <br /> River Housing and Redevelopment Authority <br /> Held at the Elk River City Hall <br /> Monday, September 8, 2020 <br /> Members Present: Chair Larry Toth, Commissioners Denny Chuba, Michelle Eder,Nate Ovall, <br /> Jayme Swenson <br /> Members Absent: None <br /> Staff Present: Economic Development Director Amanda Othoudt and Economic <br /> Development Specialist Colleen Eddy -- <br /> or 1, <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 5:31 p.m. by Chair Toth. <br /> 2. Pledge of Allegiance <br /> The Pledge of Allegiance was recited, <br /> 3. Consider September 8, 2020, Agenda,,: <br /> Motion by Commissioner Chuba and seconded by Commissioner Eder to approve <br /> the September 8, 2020, HRA agenda. <br /> Motion carried 5- <br /> 4. Consent Agenda <br /> Commissioner Eder asked for clarification about item 4.5 and if holding 3rd subordinate <br /> position was allowed in the policy. She wasn't aware the HRA approved a loan being in 3"' <br /> position and would that be allowed in future loan approvals. She asked for clarification that <br /> the home equity line of credit would remain open even at a zero balance. <br /> Ms. Othoudt stated it was allowed in the policy and the city was currently in 3rd position. The <br /> loan was approved prior to CEE administering the loan program. Ms. Othoudt stated it <br /> would not be likely that the HRA would be in any future loan approvals in 3rd subordinate <br /> position. <br /> Moved by Commissioner Eder and seconded by Commissioner Swenson to approve <br /> the September 8, 2020, consent agenda as follows: <br /> 4.1 August 3, 2020, minutes. <br /> 4.2 Check Register as outlined in the staff report. <br />