10-17-2017 HRAM�0�
HRA
HUTCHINSON HOUSING AND
R EPEVE4OPMENT AUTHORITY
Regular Roared Meeting Tuesday, October 17, 2017, 7:00 AM
Minutes
CALL TO ORDER: Chair Renee Lynn Johnson Kotlarz called the meeting to order. Members
Present: Gary Forcier, Steve Jensen, and Nikki Willemssen. Staff Present: Jean Ward and Judy
Flemming.
2. CONSIDERATION OF MINUTES OF THE REGULAR BOARD MEETING ON SEPTEMBER 19, 2017
Nikki Willemssen moved to approve the Minutes of the regular board meeting as written. Steve
Jensen seconded and the motion carried unanimously.
3. FINANCIAL REPORTS
a. Steve Jensen moved to approve City Center General Fund payments of $25,056,00 for checks
8879 to 8887. Nikki Willemssen seconded and the motion carried unanimously.
b. Steve Jensen moved to approve City Center September 30, 2017 financial statements. Nikki
Willemssen seconded and the motion carried unanimously.
c. Steve Jensen moved to approve Park Towers operating account payments of $67,271.07 for
checks 14095 to 14112 and approve Park Towers Security Account payments of $185.96 for
checks 1558. Nikki Willemssen seconded and the motion carried unanimously.
d. Gary Forcier moved to approve Nark 4bwers August 2017 Financial Reports. Nikki
Willemssen seconded and the motion carried unanimously.
e. Steve Jensen moved to approve Resolution 42017-8 adopting the Housing & Redevelopment
Fund Balance Policy. Gary Forcier seconded and the motion carried unanimously.
f. Steve Jenscn moved to approve the I IRA Cash Balance Analysis Report 1012017. Nikki
Willemssen seconded and the motion carried unanimously.
g. Nikki Willemssen moved to approve assignment up to $150,000 in operating fund reserve to
2017 Park Towers Building Improvement Plan. Steve Jensen seconded and the motion carried
unanimously.
4. PARK TOWERS UPDATE
a. Occupancy Report — 99% occupied.
b. Park Towers' October Newsletter: FYI
c. FYI Low Loss Ratio Award
d_ Jean Ward update the Board on the Operating subsidy offset litigation.
5. SEPTEMBER 2017 VACANCY RATE of 1.76 — no change from 2016 for Market Rate General
Occupancy.
6. CONSIDERATION OF RF.SOI,i ITION #2017-9 AUTHORIZING EXECUTIVE DIRECTOR TO
BID AND MAKE PAYMENT UP TO $2,000 (EXCLUDING ASSESSMENTS) AT TAX
FORFEITURE AUCTION FOR 25 JEFFERSON STREET.
The tax forfeiture auction is scheduled for November 16, 2017 at 9:00 A.M.
Steve Jensen moved to approve Resolution #2017-9 Authorizing Executive Director to Bid and
Make Payment up to "$5,000" (Excluding Assessments) at tax forfeiture auction for 25 Jefferson
Street. Nikki Willemssen seconded and the motion carried unanimously.
October 17, 2017 Minutes Page 1 of 2
7. UPDATE ON TAX FORFEITURE PROPERTY AT 486 CALIFORNIA STREET.
Habitat for Humanity will be declining to bid at tax forfeiture auction on 486 California Street.
However, more information will be needed to decide if the HRA should purchase that lot, since
there is a large utility easement that crosses the property and a house with a garage would need to
fit in the available space taking into account the easement. In addition, the marketability is limited
and is estimated to need considerable resources in value gap (Total Development Cost — Appraised
Value) and possibly affordability gap (Appraised value — purchaser financing available). Staff will
be getting more information to present to the Board.
8_ C'.ONSIDERATION OF ASSIGNING $170,000 IN CONSTRUCTION FINANCING FOR 25
JEFFERSON FROM HRA AVAILABLE BALANCE WITH VALUE GAP FOR PROJECT
FROM TIF AVAILABLE BALANCE,
Steve Jensen moved to assign $170,000 in construction financing for 25 Jefferson from HRA
available balance with value gap for project from TIF available balance. Nikki Willemssen
seconded and the motion carried unanimously.
9. CONSIDERATION OF AUTHORIZING PURCIIASE OFFER OF UP TO $5,000 FOR CITY
COUNCIL DESIGNATED PUBLIC NUISANCEIHAZARDOUS BUILDING AT 141 5TH AVE
NE SUBJECT TO ENTERINU INTO A SHARED DRIVEWAY AGREEMENT WITH BRIX &
STIR, OWNERS OF 125 5TH AVE NE, TO BE DRAFTED BY MARC SEBORA.
Steve Jensen moved to authorize the purchase offer of up to $5,000 for City Council designated
Public Nuisance/Hazardous Building at 141 5 1 Ave NE subject to entering into a shared driveway
agreement with Brix & Stix, owners of 125 5`h Ave NE, to be drafted by Marc Sebara. Nikki
Willemssen seconded and the motion carried unanimously.
10. CONSIDERATION OF ASSIGNING $100,000 TO FIRST TIME HOMEBUYER WORKFORCE
INITIATIVE LIVE AND WORK IN HUTCHINSON AVAILABLE JANUARY 1, 2018
Nikki `]Villemssen moved to assign $100,000 to First Time Homcbuycr Workforce Initiative Live
and Work in Hutchinson available January 1 201 S. Steve Jensen seconded and the motion carried
unanimously.
11. FYI 2017 HUTCHINSON FORECI.0S1 JR ES
12. 2017 THIRD QUARTER I IOUSING DATA
Jean Ward reviewed with the Board the 2017 third quarter housing data.
13. ADJOURNMENT
Steve Jensen moved to adjourn and Nikki Willemssen seconded. There being no other business,
Chair Renee Lynn Johnson Kotlarz declared the meeting adjourned.
Retarded by Jean Ward, HRA Executive Director
Gary Forger, Secretary/Treasurer
October 17, 2017 Minutes Page 2 of 2