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REDEVELOPMENT AUTHReai6UTY
Hutchinson HRA Regular Board Meeting
February 17, 2026
minute'
(ALL TO ORDER m..- Renee Lynn lcnhnseyn-I ewtlarz called the meeting to order at 7:0() a.m.
Members present: Nicole Engli, Gary Forcier, Mayor; Peggy Godina.
Others present: Bruce Naausdahl, prospective nnernhef�r Tara Oher , Prospective nnnernnher; Judy
Flemming, Executive Director" John Olson, LII A, 7 echnician.
a. Approve the Hutchinson NRA Regular Board Meeting agenda and any agenda additions and/or
corrections. ylllotion by Forcacr„ second by Engh to approve the agenda, including an agenda
addition a,! 4,e. i)rca/t Audit Report, unanimous apapr°orval.
h. There were no declarations of conflict of interest,
2. PI„JBI. IC CoMMENTS No citizens addressed the HEIR ... Board of Commissioners
.
3. ('(.ONSIDE A'I'ION OF MIN(.J"IFS OF 1 LIE RE(it.)I.AIC. Nt)AI ..1) MFII7 INC ON D➢J.(l' IMH➢ R 16, 2025
Motion hi' Furcier, se and laa,, Engh to approve regular meeting minuta°.s°, unanimous at°r roval.
4. FINANCIAL REPORTS
a. City Center:
I ) Consideration of City Center General Fund papayments of $1(➢ 5 , fbr checks 9563 to 9570
and the ➢/ 13/2026 Visa Bill payment
2) Consideration of City Center General Fundpayments of S8,8II5 .1 fbr checks 9571 to 9575
3) Consideration ol'City ('enter December 2025 Pre-adlustnanennt Financial Statements
4) Consideration of City ( enter December 2025 adjusted Financial Statements
5) Consideration of City Center January 2026 Finnaanncial. Statements
rtlotrcwrr /ry F'ure°ter, second by Engh to aprpar•av C ityy ( enter payrraentws and City Center Fintzne jul
StatemeNnts for December 2025 and .pra wary 2026. r°ar unimouns approval
h. Park Towers:
I ) Consideration of Park Towers Operating Account payments f5308,4 fir checks 169 (1
to 16946, and the 1 13 2026 Visaa. Bill payment
2) Consideration of Park Towers Security Deposit Account payment of 50 for checks 1642
3)Consideration of Park Towers Operating Account payments of $4320326 , for checks 16947
to 16977, and the 2/11/2026 Visa Bill payment
4) Consideration of Park Towers December 2025 pre -audit Financial Statements
Motion by 1°,'rrrcier, second /v Frrrgh to approve Park pir-wtiyer s' payments and Park. Towerss ,Financial
Statements for December 2025 and danuaar3, 2026, unanu,,ous approval.
Draft Financial Statement Audit for 2075 (Abdo). Flemming presented the draft audit
presentation and report. The draft audit indicated an unmoditied auditor's opinion, no instances
of noncompliance, and reports indicated healthy cash balances 6.r both Multifamily I lousing and
State Local divisions within the reports. , ° uirorr l v Ion °icr, second by Clodina to approve the draft
✓audit report, unanimous approval.
5. C'ONSIDEP.ATION OF RE: SOL,I..YTION 2026-1 ADOPIING 2026 HRA COMPENSATION PIAN
motion hr For•tcr„ second hi r L`u /a to upparovcr to aj.q' ow°ea Resolution 2026-1, unanimous approval.
6. (:'ONSIE)ERATION OF H.A➢ GROUP INSLJRAANCE RENEWAL,
l `otion /rCroclirua„ .second hi f`arrc€car° to approve to 1/Al timup insurance renewal, unaanirnous approval.
I I I Fl assan Street. 51
t°➢uH➢�,urc.�son,� fVi 5'5350
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i32U2,34 425`1 13 1 234.4241 lax
7. PARK 1OWERS
a. Park Towers January & February Newsletters
b. Park Towers Vacancy Reports
c. Operation la1 pdat s:
1) NSPIRE Inspection, Flemming reported on the deficiencies fftund, indicating that all had
been repaired in a timer manner.
8. PROGRAM UPDATES
a. No participation in the MN II ousmFix Up Loan
b. Downtown I ousing Rehab Pro ram Update
c. Owner Occupied Rehab Programs
1) Consideration of approval of City Home Repairs Program grant: (ity Home Repair Grant
for 840 Dale Street SV. Motion bt lrder, second ba Engh to approve to C°itt' Homage
'pair (r°ontfirr• 840 Dal St U/, unanimous approval.
. COMM.il ICA1It1)N
a. MN Paid Leave Update
b, City 2026 Legislative Priorities
c. FYI: Mlll-'s 2026 State I lousinProfile
d. FYI: November & December 2025 Ilutchinson Ilousin . Market Update
e. FY 1:: January, Freddie Mac: Mortgage Rates Stab➢e, Purchase Demand Rising
In the first full week of the new year, mortgage rates remained within a narrow range, hovering close to the 61N,
mark, The combination of"sohc➢ economic growth and lower rates has led to improving momentum in for -sale
residential demand, with purchase applications up over 2V°14 from a year ago,
• "f"he 3t) year fixed rate nortgag,earc raga al4r lea" as crof"„January 8, 2026, up slightly from last neck when it
averaged 6, l 5''�za. A year ago at this tune, the 30 year 1 R averaged 6,93°'.
• 1 he 15 5'year faxed rate mortgage_mover girl 546°, up from last week when it averaged 514° A year ago at this
time, the 15 -year° FRM averaged 6,14° u,
h"e11a,rar.
Freddie Mac Mortgage Rates Mortgage Rates (,'ontinue to Show Stability, Hovering Near 6°
For the last several weeks, the 311 -year fixed-rate mortgage has remained at its lowest level in years. t'➢re
combination of improving affordability and availability of homes to purchase is a positive sign for buyers and sellers
heading into the spring home sales season.
• '1 lie 30-yYear fixed-rate mortgage averaged 61.1100 as of I ebruary 5, 2026, up slightly from last week when it
averaged 6.10°1^ . A year ago at this time, the 30 year I°':RM averaged �.0°
l0°'fi°°
• °the 15 -year fixes➢ -mate mortgage averaged 5,50°'ri,, up slightly horn last week when it, averaged 5 4)° o A year
ago at this time, the 15 ear IRM averaged 6.105%,
1. Updated Board and Staff" IWist
10. ADJOURNMENT -- 'There being no other business, Johnson-Kotlari declared the meeting
adjourned.
Recorded by Judy Flerrrnirr, I -IRA Executive Director
'7 1 / '
Gary Fcr, 'ier, Secretary/ Treasurer