01-20-2015 HRAM1j1RA
Hutchinson Housing &
Redevelopment Authority
Regular Board Meeting Tuesday, January 20, 2015, 7:00 AM
Minutes
CALL TO ORDER: Chairman LaVonne Hansen called the meeting to order. Members Present: Gary
Forcier, LouAnn Holmquist, Joel Kraft, and Steve Jensen. Staff Present: Jean Ward and Judy
Flemming.
2. CONSIDERATION OF MINUTES OF THE REGULAR BOARD MEETING ON DECEMBER 16, 2014
Steven Jensen moved to approve the Minutes of the regular board meeting as written. Joel Kraft
seconded and the motion carried unanimously.
3. FINANCIAL REPORTS
a. Joel Kraft moved to approve the City Center General Fund payments of $40,559.42 for checks
8575 to 8589. Steve Jensen seconded and the motion carried unanimously.
b. Steve Jensen moved to approve the City Center December 31, 2014 Financial Reports. LouAnn
Holmquist seconded and the motion carried unanimously.
c. Joel Kraft moved to approve the Park Towers operating account payments of $44,217.87 for checks
13073 to 13116. LouAnn Holmquist seconded and the motion carried unanimously.
d. LouAnn Holmquist moved to approve the November 2014 Park Towers financial statements. Steve
Jensen seconded and the motion carried unanimously.
4. PARK TOWERS UPDATE
a. Jean Ward reviewed the 2015 Improvement Schedule with the Board and that estimates will be
solicited with any estimate more than $50,000 subject to Board approval. LouAnn Holmquist
moved to approve the 2015 Improvement Schedule. Joel Kraft seconded and the motion carried
unanimously.
b. Jean Ward also reviewed with the Board information on the 2015 Operating Subsidy Formula -
$145,732 vs. 2015 budget $120,666.
5. SCHOOL CONSTRUCTION PROGRAM
a. Steve Jensen moved to approved CRPI Loan #2 - Simonson and #3 - Hanson contingent to the
Loan Committee's approval. LouAnn Holmquist seconded and the motion carried unanimously.
Committed Program Income to three owner occupied projects $27,215 out of $50,000 allocated.
b. LouAnn Holmquist moved to approve the loan review committee's recommendation to approve
#8684, Koeppen SCDP Loan Subordination Request. Steve Jensen seconded and the motion
carried unanimously.
6. POLICY UPDATES
a. Joel Kraft moved to approve Resolution #2015-1 Adopting HRA Policy and Procedure on Data
Protection, Security and Access Requirements for Credit Reports. LouAnn Holmquist seconded
and the motion carried unanimously.
b. Steve Jensen recommended implementing a document control system that lists all HRA policies
and sets up an audit cycle for the policies.
7. SCDP Rental Rehab Application
January 20, 2015 Minutes Page 1 of 2
a. Jean Ward reviewed with the Board the Memo from DEED regarding SCDP Rental Rehab Program
Pre -Application -recommendation to strengthen application by increasing leverage and interest.
Proposed changes to SCDP Rental Rehab Application: DEED proposed EDA MIF for project -
$175,000 along with increase in interest from 67 units to 80 units in target area. Timeline for
application is: EDA Board approval for use of MIF —January 28, 2015, Public hearing and City
Council Resolution on February 10, 2015, application submitted by Thursday, February 26, 2015.
Joel Kraft made a motion to move forward with the SCDP application and to set a public hearing at
the February 10th City Council Meeting. Steve Jensen seconded and the motion carried
unanimously.
8. COMMUNICATIONS
a. 2014 Hutchinson Foreclosure Sales
b. 2014 YE Real Estate data
c. We are still looking for a vacant property for the 2015-2016 school year.
d. A possible homebuyer for 445 Adams Street has contacted Jean.
e. The City Council approved Resolution # 14372, the HRA Levy of $155,553 at the 12-23-14 City
Council meeting.
9. ADJOURNMENT
There being no other business, Chairman LaVonne Hansen declared the meeting adjourned.
Recorded by Jean Ward, HRA Executive Director
Gary Forcier, Secretary/Treasurer
January 20, 2015 Minutes Page 2 of 2