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<br />Request for Action <br /> <br /> <br />To Item Number <br /> <br />Housing and Redevelopment Authority 6.1 & 6.2 <br />Agenda Section Meeting Date Prepared by <br /> <br />WorkshopMarch 2, 2015Jeremy Barnhart, Deputy Director, CODD <br />Item Description Reviewed by <br />-Discuss Housing Tax Increment Financing Policy <br />-Discuss Demolition Program <br />Reviewed by <br /> <br /> <br /> <br />After conducting normal business, the HRA will adjourn to a work session to discuss two projects, the <br />review of the Housing Tax Increment Financing process and a potential new demolition assistance <br />program. <br /> <br />Housing TIF: The Housing TIF policy was established early last year, and has been employed once, for <br />Blackhawk Woods, a senior housing project on the west side of the community. This project was <br />designed to meet the income restrictions imposed by the State for a Housing TIF district. While that <br />project did not proceed, the HRA has suggested looking at the policy in general, and the scoring sheet <br />specific, to ensure that it reflects the goals of the tool. Included in your packets is the Housing TIF <br />policy and application, including the worksheet employed by staff for the scoring of projects. This <br />worksheet is where various requirements of the TIF program are weighted. I anticipate our discussion to <br />start at the worksheet. For example, we only give points for senior, low to moderate income housing <br />projects. If we wanted to expand that, we could add points for other projects. Staff will have much more <br />information verbally. <br /> <br />Demolition: At the last couple HRA meetings, discussions arose regarding roadblocks to redevelopment <br />and reinvestment, and looking at possibly developing a demolition loan policy. Staff has researched two <br />Demolition Loan Program Policies and Applications; one offered through DEED and the other offered <br />through a local community. Both offer different aspects however the local community program might <br />offer more of a potential that fits what we are looking to achieve. Staff anticipates discussing the objects <br />of each program, and will continue developing our own for a future meeting. <br /> <br />Attachments <br /> <br /> <br /> <br />Housing TIF Policy and Application <br /> <br /> <br />Local Community Demolition Program <br /> <br /> <br />DEED Demolition Program <br /> <br /> <br /> <br />