09-20-2011 HRAMI ARA
Hutchinson Housing &
Redevelopment Authority
Regular Board Meeting Tuesday, September 20, 2011, 7:00 AM
Minutes
CALL TO ORDER: Chairman Becky Felling called the meeting to order. Members Present: Bill
Arndt, LaVonne Hansen, LouAnn Holmquist, and Joel Kraft. Staff Present: Jean Ward and Judy
Flemming.
2. CONSIDERATION OF MINUTES OF THE REGULAR BOARD MEETING ON AUGUST 16, 2011
Joel Kraft moved to approve the Minutes of the regular board meeting as written. LouAnn Holmquist
seconded and the motion carried unanimously.
3. FINANCIAL REPORTS
a. Bill Arndt moved to approve the City Center General Fund payments for checks 7936 to 7955 for
$23,321.50 and consideration of City Center August 2011 City Center Financial Statements.
LouAnn Holmquist seconded and the motion carried unanimously.
b. LouAnn Holmquist moved to approve the Park Towers payments of $80,326.35 for checks 11678
to 11716 and consideration of Park Towers July 2011 Year End Financial Statements. Joel Kraft
seconded and the motion carried unanimously.
4. PARK TOWERS UPDATE
a. Occupancy Update — 100% occupancy!
5. SCDP PROJECT UPDATE
a. Joel Kraft moved to approve SCDP Loan 48683 -20 Kashuba contingent to Loan Review
Committee's approval. LouAnn Holmquist seconded and the motion carried unanimously.
b. Joel Kraft moved to approve the subordination request for NEN SCDP Loan 48683 -1 Anderson.
LouAnn Holmquist seconded and the motion carried unanimously.
6. UPDATE ON 400 LYNN ROAD, 630 PARK ISLAND & 755 MILWAUKEE AVENUE
a. 400 LYNN ROAD: Demolition is done and the foundation is being started.
b. 630 Park Island Drive: Closing on September 291H
c. 755 Milwaukee Avenue: Closing on September 30'.
7. CONSIDERATION OF RESOLUTION 411 -13 AUTHORIZING HRA LOAN REVIEW
COMMITTEE TO APPROVE ACQUISITION OF BANK OWNED PROPERTIES
The Board discussed this resolution and decided to modify it. Joel Kraft moved to approve Resolution
411 -13 Authorizing the Acquisition of Bank Owned Properties with the Approval of Two Board
Members. LaVonne Hansen seconded and the motion carried unanimously.
8. DISCUSSION OF DONATION OFFER FOR 587 FRANKLIN STREET
After Board discussion, LaVonne Hansen moved to approve the acceptance of the bare lot donation.
Joel Kraft seconded and the motion carried unanimously.
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9. 7:30 A.M. PUBLIC HEARING FOR PARK TOWERS ANNUAL PLAN, 2012 CAPITAL FUND
PROGRAM AND 2012 OPERATING BUDGET
a. Joel Kraft moved to approve the 2012 Park Towers Annual Plan Resolution 411 -12. LouAnn
Holmquist seconded and the motion carried unanimously.
b. Jean Ward reviewed the Park Towers budget with the Board. Because of the proposed cuts at
HUD, this budget is calculated without an operating subsidy. LouAnn Holmquist moved to
approve the 2012 Park Towers Budget Resolution 411 -10. LaVonne Hansen seconded and the
motion carried unanimously.
c. Bill Arndt moved to approve Resolution #11 -11 Approval of Revised ACOP. Joel Kraft seconded
and the motion carried unanimously.
10. OTHER - FYI
a. Point in Time Homelessness Count Summary - in July McLeod County's Homeless count dropped.
b. 2011 MHFA Legislative Summary Report
c. City of Hutchinson Survey Report
d. Approval of HRA Tax Levy Request at September 13, 2011 City Council Meeting
e. Foreclosure sale update
f Nahro Conference —Judy and Jean will be out of the office September 21st -23rd
11. ADJOURNMENT
Bill Arndt moved to adjourn and LaVonne Hansen seconded. There being no other business,
Chairman Becky Felling declared the meeting adjourned.
Recorded by Jean Ward, HRA Executive Director
LaVonne Hansen, Secretary /Treasurer
September 20, 2011 Minutes Page 2 of 2