HomeMy WebLinkAbout03-17-2026 HRAM II°.I Hasrn Sree't S
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REDEVELOPMENT AUTHORITY
Hutchinson HRA Regular Board Meeting
March 17, 2026
Mm wrote
l. C T l..< TO ORDER-_ Renee Lynn Johnson-Kotlarx called the meeting to order at 7:00 a.rra.
Members present Nicole Engh„ Gary Forcier, Mayoa and Bruce Nausdahl
Others present: Judy Flemming, Executive Director
a. Approve the Hutchinson HRA Regular Board Meeting agenda and any agenda additions and/or
corrections,corrections, `otion b 'P ornc c r, second by Engh to eyyvo'e the agenda, including Park l�arw errs
a ehr°uar v I'Thancryials, unanimous approval.
b. There we're no declarations of conflict of interest,
2. PUBLIC "OMMENT No citizens addressed the HHRA Board of Commissioners,
3. CONSIDERATION ERATION OF MINUTES OF THE REGL LAR BOARD MEETING ON FEBRUARY 17,
2026
Motion hr ^arr ,cae'r, second i r a 'rrg/a to approve regular an ctrn*minutes, unaarrirnou.s aappro'al
4. FINANCIAL REPORTS
a. City Center:
1 ) Consideration of City (:"enter General Fund payments of" 1,fi l 1.c)1 for checks 9576 to 9581
2) Consideration of City Center February 2026 Financial Statements
.' approve y p v ('cnt -i''inaanc Taal
Motion r ' . aar't°a"�r', sec and In �'w'rr ,fir to (:'at �,'awrrta:�r^ aaurrraa rrts°and C/tv
for P°chruaai yr 2026, unanimous'approval.
b. Park lowers
1) Consideration of Park Towers Operating Account payments of 1065,9 0 for checks 16978
to 17013, and the 3/9/2026 Visa Bill payment
2) Consideration of Park Powers January & February 2026 Financial Statements
3) PILOT S28,33: .74 for Fiscal Year Ended 12/ 1/2025
4) Insurance Register
Motion by ''oreter„ second by Engh to approve Para Btrrareros°pay'merats, 1 aarA° I'olvers Financial
5taat rrrcrats for January & h"ebi-'wvy 2026, the 2025 P'/LOT and the insurance rcgi.stc r° aanaaninious
approval.
5, 7:30 A.M. - 2025 AUDIT PRESENTATION BY ABDO
2025 Audit presentation was given by Abby Schmidt from ABDO.
'Potion by P'ore/cr, second by Engh to approve 2025 Hut hins'on /I/?A ,-f ueli't, unanimous aapprovaal,,
6, PARK TOWERS
a. Park Towers March Newsletters
b. Park Tossers Vacancy Reports
c, Operation Updates:
I) The Board had a discussion on a building retrofit for a fire sprinkler system.
7. PROGRAM UPDATES
Flemming updated the Board on Downtown Housing Rehab Program, which is in the Oww°ner-
Occupied Rehab Phase,
in Hassan Street SF
H R A Hutc inson, MN 55350
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REMVELOF FNT*JTHOR¢I
8. COMMUNICATIONS
a. MN Paid Leave Update: The equivalent plan was accepted so the HHI . will be on the same
plan as the city starting the second quarter of the year,
b. Social Media Marketing Performance Report
e. l otice of Pending Partnership for King Motel SRO Housing Initiative
d. FYI; City Council and County Board are having a joint meeting on March 31 ' at ti PM.,
e, Discussion on a past owner-occupied rehab project.
f. HHR..A Board members will review 2026 Priorities fiver next Board meeting
g. FYI: Information on affordable housing that legislators are currently discussing.
la. FYI. Coalition offClreater MN Cities° report `'Advancing Housing Policy in Minnesota. C"ities"
i. FYI: March Freddie Mac: Mortgage rates held steady at tiro this eek, hovering near their lowest
level since 2022. In fact, rates are down nearly a full percentage point from this time in 2024,
spumng aetiw ity from buyers, sellers and ov ners. As a result, refinance activity is up, and
purchase applications are ahead of last year's pace.
The 10-year fixed-rate mortgage averaged 6.00" , as of March 5, 2026, slightly up from last
week when it averaged 5 0 °o. A year ago at this tine, the 30-year I'RM averaged63°c.
The 15-year fixed-rate mortgage averaged 5.43%, slightly down from last week wvlien it.
averaged 5.44%. A year ago at this time, the 15-year FRM averaged 5.79°o.
9. A JOU NMFl T- There being no other business, Johnson- .,otlaarz declared the meeting
adjourned.
Recorded by Judy Flemr`ning, IJ' .A Executive Director
a .n orcier, Secretaiy/Treasurer