CompletedJanuary 14, 2025 Housing and Redevelopment Authority Meeting

January 14, 2025 Housing and Redevelopment Authority Meeting

Date: Wednesday, January 15, 2025 at 1:15 PMActual: Wednesday, January 15, 2025 at 1:15 PM

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Published Wednesday, January 15, 2025

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[0:44] , UH UH [0:55] . UH [1:06] . GOOD EVENING. I WOULD LIKE TO CALL. THIS IS NOT. [1:12] OH, I'M TRY THIS AGAIN. [1:20] I WOULD LIKE TO CALL TO ORDER THE TUESDAY JANUARY 14TH, 2025. AH, A BOARD MEETING. [1:27] FIRST ITEM IS APPROVAL OF THE AGENDA. ARE THERE ANY EDITS OR CHANGES [1:35] IF NONE? MAY I HAVE THE MOTION TO APPROVE THE AGENDA SOMEWHAT [1:42] MOTION MADE BY LUA SECOND SECOND BY DOUBLING OR ALL [1:49] IN FAVOR OF OPPOSED MOTION PASSES SIX ZERO RIGHT. [1:56] NEXT ITEM ON THE AGENDA IS THE APPROVAL OF MINUTES. SO WE HAVE THE APPROVAL OF THE [2:03] DECEMBER 10TH CITY COUNCIL PORT AUTHORITY HRA CONCURRENT MEETING MINUTES ARE THERE ANY [2:11] EDITS OR CHANGES? IF THERE ARE NONE MAY I HAVE A [2:18] MOTION TO APPROVE THE DECEMBER 10TH CITY COUNCIL PART. HRA CONCURRENT BOARD MEETING MINUTES SO MOVED SO MOTION [2:27] MADE BY S.A. SECOND BY. ANY DISCUSSION? [2:32] ALL IN FAVOR. OH OKAY. MOTION PASSES SIX NOTHING. [2:39] THE NEXT ITEM IS THE APPROVAL [2:45] OF THE DECEMBER 17TH HRA AND PLANNING CONCURRENT MEETING MINUTES. ARE THERE ANY EDITS OR CHANGES [2:53] ? IF NOT CAN HAVE A MOTION TO APPROVE THE DECEMBER 17TH HRA AND PLANNING MEETING MINUTES. [3:00] MOVE TO APPROVE SECOND MOTION MADE BY WOOTEN IN SECOND BY DOUBLING OR ANY DISCUSSION. [3:09] ALL IN FAVOR I MOTION SIX ZERO FOR CRUISING RIGHT ON. [3:16] OKAY NEXT ITEM IS ORGANIZATIONAL BUSINESS WHICH I BELIEVE THERE WAS NONE SO WE [3:27] WILL MOVE ON TO THE NEXT ITEM OF NEW BUSINESS. SO THE FIRST ITEM IS PROPOSED [3:33] CHANGES TO THE RENTAL HOMES FOR FUTURE HOMEBUYERS PROGRAM [3:39] . MAY I HAVE THE STAFF REPORT? GOOD EVENING. [3:44] CHAIR AND COMMISSIONERS ANNA SALVADOR ADMINISTRATOR I JUST [3:51] WANT YOU GUYS CAN HEAR ME RIGHT. OKAY. THE ITEM BEFORE YOU THIS EVENING OUR PROPOSED CHANGES [3:58] TO THE RENTAL HOMES FOR FUTURE HOMEBUYERS PROGRAM. THE PURPOSE OF THE RENTAL HOMES FOR FUTURE HOMEBUYERS [4:03] PROGRAM IS TO OFFER AFFORDABLE RENTS TO SUPPORT A PATHWAY TO HOMEOWNERSHIP FOR INCOME [4:10] QUALIFYING HOUSEHOLDS. THE PROGRAM ANNUAL COACHING AND EDUCATION ON HOMEOWNERSHIP GOALS AND GENERALLY RUNS FOR [4:17] ABOUT FIVE YEARS FOR EACH HOUSEHOLD. THE GOALS OF THE AMENDMENTS BEFORE YOU TONIGHT ARE FIRST [4:24] AND FOREMOST TO MAKE SURE THAT WE CAN CONTINUE TO PROVIDE SAFE AND QUALITY HOUSING. AS YOU KNOW, IN 2024 THERE WAS [4:29] A SIGNIFICANT CAPITAL IMPROVEMENTS THAT WERE COMPLETED AND AS PART OF THAT [4:36] WORK WE IDENTIFIED THAT RENTS NEEDED TO INCREASE TO GUARANTEE WE COULD CONTINUE TO MAINTAIN SAFE AND QUALITY HOUSING. [4:44] AND SO THAT IS KIND OF THE IMPETUS FOR THE AMENDMENTS YOU TONIGHT. ONE THING THAT STAFFERS [4:49] CONTINUE TO BALANCE WITH THIS WORK IS TO MAKE SURE THAT ANY RENT INCREASES AND ANY [4:56] AMENDMENTS TO THE PROGRAM WOULD CONTINUE TO SUPPORT THE UNDERLYING PROGRAMMATIC GOALS OF HOMEOWNERSHIP READINESS AND AFFORDABILITY. [5:03] AND ONE WAY WE WERE THROUGH THIS IS HOW DO WE MAKE SURE THAT INCOME LIMITS AND RENT [5:10] LIMITS ARE SET IN WAYS THAT …

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Topics Discussed (3)

Rental Homes for Future Homebuyers Program Amendments

AON Loan Deferral Request for Blooming Meadows

Sanitary Sewer Funding Update

Full Document Analysis
5-1 Approved
6-0 Approved

The purpose of the Rental Homes for Future Homebuyers Program is to offer affordable rents to support a pathway to homeownership for income qualifying households.

Anna Salvador [3:58]Proposed Changes to the Rental Homes for Future Homebuyers Program

rents needed to increase to guarantee we could continue to maintain safe and quality housing.

Anna Salvador [4:36]Proposed Changes to the Rental Homes for Future Homebuyers Program

I think it's really it would be a really good idea to actually speak to the tenants and where they're at because I understand you know there's the paperwork where their income is at but you know like I grew up in low income housing and know that the reality can be very different in the sense that there can be so many unexpected costs...

Commissioner [14:18]Proposed Changes to the Rental Homes for Future Homebuyers Program

SOME OF THE IMPROVEMENTS HAVE BEEN MADE. THEY'RE GOING TO BE MADE WHERE IMPROVEMENTS SHOULD HAVE BEEN. WE SHOULD HAVE BEEN MAKING THEM OVER A PERIOD OF TIME AND NOW AS IT APPEARS TO ME THAT MAYBE THE BURDEN OF THOSE IMPROVEMENTS NOT BEING MADE IN A TIMELY MANNER IS BEING BORNE BY THE PAY THE CURRENT TENANTS.

Commissioner Wooten [19:02]Proposed Changes to the Rental Homes for Future Homebuyers Program

GIVEN THE FINANCIAL SITUATION OF THE MEADOW SOUTH AND SECONDARY POSITION OF THE HRA AS LOAN. THERE IS FINANCIAL RISK THAT THEY WILL NOT BE ABLE TO MAKE FUTURE PAYMENTS ON THE LOAN

Staff [31:27]AON Loan Deferral Request

AFTER THE PANDEMIC AND THE EVICTION MORATORIUM WE BASICALLY SPACED ACROSS THE PORTFOLIO. WE LOST ROUGHLY 63% OF OUR REVENUE ACROSS THE ORGANIZATION TURNS TO NONPAYMENT OF RENT

Dr. Eric Anthony Johnson [36:11]AON Loan Deferral Request

I HAVE A PERSONAL STAKE IN THIS ONE BECAUSE I WAS HERE TO GET DEAL DONE AND I FEEL BLOOMINGTON IS A GREAT PARTNER AND WE DO NOT WANT TO DO ANYTHING TO DISRUPT THAT RELATIONSHIP.

Dr. Eric Anthony Johnson [43:13]AON Loan Deferral Request

I WILL SUPPORT THIS ONE THIS YEAR BUT IF THINGS START FALLING APART IF NEXT YEAR WE HAVE TO COME BACK AND DO THIS AGAIN IT'S REALLY HARD TO JUSTIFY THE CONTINUED PUBLIC SUPPORT

Commissioner [46:13]AON Loan Deferral Request

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