03-15-2016 HRAAh
HRA
City Center, 111 Hassan Street SE
Hutchinson, MN 55350
Website Site: www.hutchinsonhra.com
HUTCHINSON HOUSING AND (320) 234-4251 (320) 234-4240 Fax
REDEVELOPMENT AUTHORITY
Hutchinson HRA Regular Board Meeting
March 15, 2016
Agenda
1. CALL TO ORDER — 7:00 a.m. - CITY CENTER MAIN CONFERENCE ROOM
2. CONSIDERATION OF MINUTES OF THE REGULAR BOARD MEETING ON FEBRUARY 16, 2016
3. FINANCIAL REPORTS
a. Consideration of City Center General Fund payments of $118,397.27 for checks 8732 to 8742
b. Consideration of approval of Park Towers operating account payments of $233,367.04 for checks
13549 to 13578 and approval of Park Towers Security Account payments of $12.10 for check 1538
c. Consideration of December 31, 2015 and January 31, 2016 Park Towers Financial Statements
d. Consideration of February 29, 2016 City Center Financial Statements
4. PARK TOWERS
a. Occupancy Report
b. Elevator Project 100% Completion letter
c. Park Towers Newsletter
d. 2016 Operating Subsidy Calculation Amount $112,417
5. CONSIDERATION OF BORROWING RESOLUTION 2016-5 TO BORROW $234,000 IN BOND
PROCEEDS FROM THE PORP PROGRAM
6. DOWNTOWN RENTAL REHAB PROJECT INTEREST LIST
7. CONSIDERATION OF RESOLUTION 2016-6 TO AMEND THE CITY OF HUTCHINSON SCDP
DOWNTOWN RENTAL REHAB PROGRAM PROCEDURAL GUIDELINES TO INCLUDE THE
DEFINITION OF "AFFORDABLE RENTS"
8. CONSIDERATION OF RESOLUTION 2016-7 RESOLUTION TO AMEND THE CITY OF
HUTCHINSON SCDP DOWNTOWN RENTAL REHAB PROGRAM PROCEDURAL GUIDELINES
TO REDEFINE THE FINANCING TERMS OF THE MORTGAGE TO SAY "20% WILL BE
FORGIVEN EACH YEAR OVER THE FIVE YEAR TERM OF MEETING THE LMI TENANT &
AFFORDABLE RENTS REQUIREMENTS"
9. 445 ADAMS STREET
10. CONSIDERATION OF APPROVING THE STONE HRA HOME IMPROVEMENT LOAN AS AN
OWNER MATCH TO THE CITY HOME IMPROVEMENT LOAN (TIF FUNDS)
11. POTENTIAL TIF APPLICATION
12. CONSIDERATION OF APPROVING THE KRUEGER HOME IMPROVEMENT LOANS, TIF & HRA
3% CONTINGENT TO THE LOAN REVIEW COMMITTEE'S APPROVAL
13. COMMUNICATIONS —Foreclosure List and HRA part of RFP for City Job Evaluation & Comp Study
14. ADJOURNMENT