10-21-2008 HRAAHutchinson Housing & Redevelopment Authority
Regular Board Meeting - October 21, 2008
Agenda
1. CALL TO ORDER - 7:00 a.m. - CITY CENTER MAIN CONFERENCE ROOM
2. MINUTES OF HRA BOARD MEETING ON SEPTEMBER 16, 2008
3. FINANCIAL REPORTS
a. City Center
- Approval of City Center September 2008 Financial Statements and City Center
General Fund Payments of $68,925.68 (checks 7286 -7308) and
Downpayment Assistance Payments of $8,000 (checks 1266 & 1267)
- Approval to pay off MHFA interim construction loan plus interest upon sale of
school construction house October 24, 2008. (Total payoff of $98,933.03
Interim loan $96,735 with interest at 2% of $2,198.03)
- Approval to pay Herald Journal Publishing $433.46 for Marketing Signs
b. Park Towers
- Approval of Park Towers August 2008 Financial Statements and Park Towers
Payments of $143,947.98 (checks 10425 - 10465)
- Approval to pay interim pay request of $49,902 for caulking project upon
completion of initial contract work. (Does not include change order amount).
4. PARK TOWERS UPDATE
a. Update on Apartment Renovation Project- Project Schedule
b. Update on Caulking project- Change order $19,962
c. Occupancy Status - 5 apartments currently vacant for renovation, 1 vacant due to
eviction, and 1 vacant due to turnover.
d. 2008 Final Operating Subsidy amount of $163,962 based on 88.96% proration.
2008 budget amount of $160,000.
e. Future needs- Stucco replacement needed between 5th & 6th floors and 6th & 7th
floors at front entrance.
5. HOME IMPROVEMENT LOANS
a. Consideration of Home Improvement Resolution #08 -16.
6. SCHOOL CONSTRUCTION UPDATE
a. 1170 Prairie View Drive SW
• Consideration of Resolution #08 -15 to approve sale of house at 1170 Prairie
View Drive SW and authorization to execute closing documents. (Closing
scheduled for October 24, 2008)
• Consideration of removal of Appliance Allowance from Purchase
Agreement due to CASA loan requirements and approval of revised listing
agreement for Diane Sorensen
b. 1863 Islandview Circle SW
c. Correspondence to School Officials regarding Memorandum of Understanding for
building a house in the 2009 -2010 school year.
7. HHPOP
a. Consideration to Approve CASA Workforce Loans: City Revolving Loan & HRA
Entry Cost Loan CW #9NC /E for Amber Wagner to Purchase 1170 Prairie View
Dr. School Construction House
8. FRANKLIN GROVE EXPANDED REHAB PROJECT UPDATE
a. Consideration to Approve EFG Schumaci Loan #8694 Contingent to Loan Review
Committee
b. Consideration to Approve EFG Solis Loan #8695 Contingent to Loan Review
Committee
c. Subordination Request for CR & EFG Schmeling Loan #8686
9. OTHER
a. Foreclosure Update Report for Hutchinson as of 9 -30 -2008
b. Report on October 17TH Meeting at MHFA on Neighborhood Stabilization
Program funding for foreclosed homes
c. HRA Logo
10. ADJOURNMENT