10-20-2009 HRAMHutchinson Housing & Redevelopment Authority
Regular Board Meeting Tuesday, October 20, 2009, 7:00 AM
Minutes
CALL TO ORDER: Chairman Joel Kraft called the meeting to order. Members Present: Bill Arndt,
Becky Felling, LaVonne Hansen and Ruth Kimball. Staff Present: Jean Ward and Judy Flemming.
2. MINUTES OF THE HRA BOARD MEETING ON SEPTEMBER 15, 2009
Bill Arndt moved to approve the Minutes as written. Ruth Kimball seconded and the motion carried
unanimously.
3. FINANCIAL REPORTS
a. Bill Arndt moved to approve the City Center General Fund payments of $11,409.91 for checks
7495 to 7506 and September 30, 2009 Financial Statements and Park Towers August Financial
Statements and payments of $138,539.47 for checks 10876 to 10915 and Revised Check Register
for August Payments of $39,755.54 instead of $49,755.54 to reflect voided check 4 10865 of
$10,000 payable to City of Hutchinson (should have been payable to Hutchinson HRA -City
Center office). Ruth Kimball seconded and the motion carried unanimously.
b. Jean Ward reviewed with the Board the spreadsheet showing local leverage allocated by program.
4. OTHER UPDATES PARK TOWERS PROJECT
a. ARRA funds - Parking Lot Project: The City Council had the first reading of the ordinance
authorizing the transfer of municipally owned real property. The next step is the second reading.
b. Park Towers Vacancy Status: there is one apartment vacant right now.
c. Other projects FYI: boiler repairs estimate is around $4,800.
d. Final HUD pre- ration of operating subsidy for 2009 budget is 88.42% or $182,462.
5. CONSIDERATION OF RESOLUTION 409 -10 TO APPROVE SHORT SALE LOAN
FORGIVENESS POLICY
LaVonne Hansen moved to approve Resolution #09 -10 to Approve the Short Sale Loan Forgiveness
Policy. Becky Felling seconded and the motion passed unanimously.
6. CONSDIERATION OF RESOLUTION 409 -11 TO WRITE OFF $2,000 ENTRY COST
ASSISTANCE LOAN FOR SHORT SALE SANDRA KARG
Bill Arndt moved to table Resolution 409 -1 luntil next meeting because the closing was postponed.
Ruth Kimball seconded and the motion carried unanimously.
7. 2009/2010 SCHOOL CONSTRUCTION HOUSE UPDATE
a. 1116 Lewis Avenue Update: The bank would like to get the first mortgage amount of $86,000, so
the bank's next step is to get an updated broker's price option. The High School has projects to
keep busy until November.
b. 400 Lynn Road Discussion is tabled until next meeting.
8. LOAN ADMINISTRATION
a. Becky Felling moved to approve Krumwiede HHPOP Loan. LaVonne Hansen seconded and the
motion carried unanimously.
b. Bill Arndt moved to approve the subordination request for Franklin Grove Loan 48680 -26. Ruth
Kimball seconded and the motion carried unanimously.
October 20, 2009 Minutes Page 1 of 2
9. OTHER/FYL
a. Preliminary General Apartment Vacancy Rate October 2009 13.98% vs. 7.54% in 2008.
b. Jean Ward reviewed with the Board the Foreclosure Sale Report.
c. Jean Ward reviewed with the Board the Website Analytics
d. FYI: Plans for Hospital Senior Campus
e. Section 3 Compliance now required for PHA. Federally funded projects will have met Section 3
compliance by hiring low - income people from the area to work on the projects.
10. ADJOURNMENT
There being no other business, Chairman Joel Kraft declared the meeting adjourned.
Recorded by Jean Ward, HRA Executive Director
Becky Felling, Secretary /Treasurer
October 20, 2009 Minutes Page 2 of 2