04-21-2015 HRAMjjjRA
Hutchinson Housing &
Redevelopment Authority
Regular Board Meeting Tuesday, April 21, 2015, 7:00 AM
Minutes
CALL TO ORDER: Chairman LaVonne Hansen called the meeting to order. Members Present: Gary
Forcier, LouAnn Holmquist, and Joel Kraft. Staff Present: Jean Ward and Judy Flemming.
2. CONSIDERATION OF MINUTES OF THE REGULAR BOARD MEETING ON MARCH 17, 2015
Joel Kraft moved to approve the Minutes of the regular board meeting as written. LouAnn Holmquist
seconded and the motion carried unanimously.
FINANCIAL REPORTS
a. LouAnn Holmquist moved to approve the City Center General Fund payments of $58,551.41, for
checks 8610 to 8625. Joel Kraft seconded and the motion carried unanimously.
b. Joel Kraft moved to approve the City Center March 31, 2015 Financial Reports. LouAnn Holmquist
seconded and the motion carried unanimously.
c. Joel Kraft moved to approve the Park Towers operating account payments of $92,420.46 for checks
13182 to 13218. LouAnn Holmquist seconded and the motion carried unanimously.
d. LouAnn Holmquist moved to approve the February 2015 Park Towers financial statements. Joel
Kraft seconded and the motion carried unanimously.
4. PARK TOWERS UPDATE
a. Occupancy Report: 100%
b. Move -In Summary Report: Statutory Requirement is 40% of new admissions must be extremely
low income — 76% of the move -ins in 2014 had extremely low income.
c. Consideration of Park Towers 2015 Improvements/Repairs Plan
Jean Ward reviewed the plan with the Board. Joel Kraft moved to approve the Park Towers 2015
Improvement/Repairs Plan. LouAnn Holmquist seconded and the motion carried unanimously.
CONSIDERATION OF RESOLUTION #2015-5 CITY CENTER SUB -PRIME LOAN POLICY
LouAnn Holmquist moved to approve Resolution #2015-5 City Center Sub -prime Loan Policy. Joel
Kraft seconded and the motion carried unanimously.
6. CONSIDERATION OF RESOLUTION #2015-6 CAPITALIZATION POLICY
Joel Kraft moved to approve Resolution #2015-6 Capitalization Policy. LouAnn Holmquist seconded
and the motion carried unanimously.
7. CONSIDERATION OF RESOLTUION #2015-7 EXECUTION OF BUDGETARY, FINANCIAL
AND CONTRACT DOCUMENTS
Gary Forcier moved to approve Resolution #2015-7 Execution of Budgetary, Financial and Contract
Documents. LouAnn Holmquist seconded and the motion carried unanimously.
8. REVIEW OF CITY CENTER LOAN POLICY LOG
Jean Ward reviewed with the Board the City Center Loan Policy Log
April 21, 2015 Minutes Page 1 of 2
9. CONSIDERATION OF RESPONSES TO RFP TO LIST HOUSE AT 445 ADAMS STREET SE
a. Jean Ward reviewed the project budget and received RFP's with the Board. Gary Forcier moved to
have Cheryl Dooley, Hometown Realty list the house at 445 Adams Street SE. Joel Kraft seconded
and the motion carried unanimously.
10. CONSIDERATION OF EXTENSION REQUEST FOR VALUE GAP IMPACT FUNDS SCHOOL
CONSTRUCTION 2015-2016
Joel Kraft moved to table this item until next month. LouAnn Holmquist seconded and the motion
carried unanimously.
11. INSURANCE RENEWAL REVIEW
Jean Ward reviewed the insurance renewal information with the Board.
12. COMMUNICATIONS
a. FYI: McDowall & Company Letter
b. FYI: 2015 First Quarter Foreclosure Report
c. FYI: Hutch leader
13. ADJOURNMENT
Joel Kraft moved to adorn and LouAnn Holmquist seconded. There being no other business, Chairman
LaVonne Hansen declared the meeting adjourned.
Recorded by Jean Ward, HRA Executive Director
Gary Forcier, Secretary/Treasurer
April 21, 2015 Minutes Page 2 of 2