[3:27] . CALL TO ORDER THE TUESDAY,

[3:33] FEBRUARY 25TH 2025 HRH BOARD MEETING. FIRST ITEM ON THE AGENDA IS THE APPROVAL OF AGENDA.

[3:40] ARE THERE ANY EDITS OR CHANGES IF NONE MAY I HAVE A MOTION TO

[3:48] APPROVE THE AGENDA. SOME ARE SAYING MOVED BY WHO

[3:55] AND SECOND BY ME. ANY DISCUSSION? ALL IN FAVOR. HI. HI.

[4:00] HI. MOTION PASSES. OKAY. 620 APPROVAL OF THE MINUTES.

[4:05] APPROVAL OF THE FEBRUARY 11TH

[4:12] 2025 HRA BOARD MEETING MINUTES. ARE THERE ANY EDITS OR CHANGES IF NONE MAY HAVE A MOTION TO

[4:20] THE FEBRUARY 11TH H.R. BOARD MEETING MINUTES. SECOND MOVED BY WOOTEN AND

[4:27] SECOND BY DOUBLING OR ANY DISCUSSION. ALL IN FAVOR. I MOTION 6 TO 0 NEXT ITEM IS

[4:38] ORGANIZATIONAL BUSINESS AND WE WILL HAVE AN UPDATE ON

[4:44] OWNERSHIP PROGRAMS

[4:52] . GOOD EVENING CHAIR AND COMMISSIONERS ANA SALVADOR

[4:57] ASSISTANT ADMINISTER LEADER. THIS PRESENTATION IS INTENDED TO PROVIDE AN OVERVIEW

[5:04] OF CURRENT HOMEOWNERSHIP RELATED PROGRAMING THE AGENCIES INVOLVED AND AS THERE

[5:09] ARE UPCOMING ITEMS LATER THIS YEAR THAT ARE ASSOCIATED WITH THIS PROGRAM WE THOUGHT IT WOULD. OUR PROGRAM MEETING WE THOUGHT

[5:16] IT WOULD BE GOOD TO ESTABLISH A FOUNDATION ON CURRENT PROGRAM STATUSES AND KIND OF THE FULL RANGE OF WE'RE

[5:24] WORKING ON WITHIN THE HOME HOMEOWNERSHIP UMBRELLA. THERE ARE NO ACTION ITEMS FROM THIS PRESENTATION IT'S PURELY

[5:29] INFORMATIONAL. SO WHEN DESIGNING AND EVALUATING THE HOMEOWNERSHIP

[5:35] RECORD WE KEEP IN MIND THE FOLLOWING GUIDING PRINCIPLES. DEVELOPING MULTIPLE PATHWAYS TO HOMEOWNERSHIP FOR RESIDENTS

[5:43] REDUCING THE HOMEOWNERSHIP GAP BETWEEN BIPOC AND WHITE HOUSEHOLDS. AND THEN MORE ON THE PHYSICAL

[5:50] OR BUILT ENVIRONMENT SIDE OF THINGS IT'S INCREASING THE THE OVERALL STOCK OF OWNERSHIP HOUSING WITHIN THE CITY

[5:55] PARTICULARLY AROUND AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES AND ALSO PRESERVING THE

[6:02] EXISTING STOCK OF OWNERSHIP HOUSING WITHIN THE CITY. HOMEOWNERSHIP INTERVENTIONS FALL UNDER FORWARD KIND

[6:10] OF BROAD CATEGORIES. MY PRESENTATION THIS EVENING IS REALLY GOING TO FOCUS ON THE EDUCATION AND FINANCIAL ASSISTANCE PROGRAM PROGRAMS

[6:17] BUT I DID WANT TO TOUCH BRIEFLY ON THE OTHER TWO BUCKETS WHICH ARE DEVELOPMENT AND HOMEOWNERSHIP PRESERVATION

[6:24] . UNDER THE DEVELOPMENT BUCKET THE BIGGEST ONE OBVIOUSLY IS THE BLOOMINGTON AFFORDABLE

[6:29] HOMEOWNERSHI PROGRAM WHICH CAME BEFORE THIS BOARD THIS YEAR. THAT PROGRAM IS ROLLING OUT

[6:36] AND WE HAVE THAT FIRST RFP COMING RELATIVELY SOON AGAIN 9030 PARK WHICH IS ANOTHER

[6:41] THING THAT THIS BOARD WAS HEAVILY INVOLVED IN IS ALSO IN PROCESS RIGHT NOW HOPING

[6:47] START CONSTRUCTION IN THE SPRING. AND THEN LASTLY ONGOING PARTNERSHIP WITH HOMES WITHIN

[6:52] REACH WHICH THIS HAS HISTORICALLY BEEN FUNDED THROUGH CDBG DOLLARS WE PROVIDE SOME FUNDING FOR

[6:59] ACQUISITION AND REHABILITATION OF EXISTING HOMEOWNERSHIP UNITS TO BE SOLD IN AT AFFORDABLE PRICES AND THEN

[7:06] WITHIN HOMEOWNERSHIP PRESERVATION. THIS IS REALLY WHERE THE REHAB LOAN PROGRAM FITS INTO THE

[7:12] HOMEOWNERSHIP UMBRELLA OF PROGRAMS. AND THEN WE ALSO HAVE A NUMBER

[7:19] OF AGREEMENTS THAT EXTEND THE REACH OF OUR REHAB PROGRAMING. THE FIRST ONE BEING A ONE WAS

[7:25] CENTER FOR ENERGY AND ENVIRONMENT WHICH WORKS ON ENERGY EFFICIENCY IMPROVEMENTS ON HOME HOME HOMES THROUGHOUT

[7:33] THE CITY AND THEN SENIOR COMMUNITY SERVICES WITH THEIR HOME PROGRAM AND HABITAT FOR

[7:38] HUMANITY WITH THEIR BRUSH WITH KINDNESS PROGRAM ALL KIND OF STILL WITHIN THAT REHAB

[7:44] PROGRAM KIND OF COMPONENTS. AND THEN LASTLY DID WANT TO TOUCH ON THE HOME IMPROVEMENT AREAS OR THE HRA PROGRAM WHICH

[7:52] ALSO FALLS WITHIN THIS. HOMEOWNERSHIP PRESERVATION A KEY PROJECT THAT IS UTILIZING THIS RIGHT NOW IS THE HEIGHTS

[7:57] WHICH I KNOW WE'LL HEAR ABOUT TONIGHT SO I WON'T SPEND A TON OF TIME ON THAT.

[8:02] SO AGAIN THIS PRESENTATION IS FOCUSING THOSE FIRST TWO BUCKETS.

[8:09] THE FIRST PROGRAM I JUST WANT TO HIGHLIGHT IS THE JOURNEY TO HOMEOWNERSHIP WORKSHOPS.

[8:14] THESE WERE ESTABLISHED INITIALLY IN 2023 AND THESE ARE SHORT KIND OF INITIAL

[8:20] WORKSHOPS THAT ARE OFFERED IN SOMALI, SPANISH AND ENGLISH THROUGHOUT THE YEAR.

[8:26] THEY'RE 1 TO 2 HOURS AND IT'S REALLY JUST AN INTRODUCTION TO THE HOMEBUYING PROCESS AND AN OPPORTUNITY TO GET CONNECTED

[8:34] FURTHER RESOURCES THAT INCLUDES FIRST TIME HOMEBUYER COURSES ONE ON ONE COUNSELING

[8:39] AND THE GET AN INTRODUCTION OF THE HCV HCV HOMEOWNERSHIP

[8:46] AND THE RENTAL HOMES FOR FUTURE HOMEBUYERS PROGRAM. THIS WORKSHOP IS REQUIRED FOR BOTH OUR RENTAL FOR FUTURE

[8:54] HOMEBUYERS PARTICIPANTS AND OUR HCV HOMEOWNERSHIP PARTIES OPENS THIS YEAR AND WE'RE HOPING TO ADD ADDITIONAL

[9:02] PARTNERS TO EXPAND THE REACH OF THESE WORKSHOPS AND ALSO TO DIG IN A LITTLE DEEPER AND FOCUS MORE ON THE LIKE FOLLOW

[9:09] UP ONE ON ONE COUNT COUNSELING AFTER KIND OF THE BRIDGE BETWEEN OKAY I'VE ATTENDED THIS INITIAL WORKSHOP WHAT'S

[9:17] MY NEXT STEP AND FOCUSING RESOURCES THERE A LITTLE BIT MORE IN THE AGREEMENTS ARE

[9:22] IN CONTRACTS WE WORK THROUGH THE JOURNEY TO HOMEOWNERSHIP PROGRAM AND ANOTHER THING THAT

[9:29] I JUST WANT TO FIND WITH THIS THAT WILL BE NEW IN 2025 IS INCORPORATING POST-PURCHASE

[9:37] INTO THIS MODEL AS WELL. THAT'S A REQUIREMENT OF THE HCV PROGRAM IN PARTICULAR AND SO WE REALLY WANTED TO MAKE

[9:42] SURE THAT WAS SOMETHING THAT WAS AVAILABLE SINCE IT IS A REQUIREMENT OF THAT PROGRAM AS

[9:49] A NEXT STEP AFTER JOURNEY TO HOMEOWNERSHIP WE HAVE ALSO PARTNERED WITH PROJECT FOR

[9:54] PRIDE LIVING ON HOME STRETCH COURSES AND THIS IS THE MORE IN-DEPTH EIGHT HOUR HUD

[10:00] APPROVED HOMEBUYER EDUCATION COURSE. THIS COURSE IS OFTEN REQUIRED FOR MOST DOWN PAYMENT

[10:06] ASSISTANCE PROGRAM AND WE ALSO REQUIRE IT REQUIRE IT FOR OUR RENTAL HOMES PARTICIPANTS AND

[10:12] HCV HOMEOWNERSHIP PARTICIPANTS YOU HAVE SEEN THESE TOTALS IN OUR LAST MEETING AND JUST

[10:17] IN TERMS OF OUTCOMES FROM 2024 BUT I DID JUST WANT TO HIGHLIGHT THAT FOR THE COURSES

[10:24] THAT WERE OFFERED HERE IN BLOOMINGTON WE DID HAVE 30 HOUSEHOLDS WHO ATTENDED THOSE COURSES AND HOUSEHOLDS

[10:31] PURCHASED A HOME AFTER PARTICIPATING IN THE HOME STRETCH PROGRAMING.

[10:38] I'M GOING TO SWITCH GEARS NOW AND TALK ABOUT ANOTHER EDUCATION KIND OF FOCUS PROGRAM WHICH IS THE RENTAL HOMES FOR FUTURE HOMEBUYERS

[10:44] PROGRAM. AGAIN, THIS IS OFFERED WE

[10:50] OFFER AFFORDABLE RENT TO SUPPORT A PATHWAY TO HOMEOWNERSHIP FOR HOUSEHOLDS IN 21 RENTAL UNITS IN THE IN THE CITY INCLUDED IN THIS

[10:58] PROGRAM IS ANNUAL WITH STAFF AND AGAIN EDUCATION ON HOMEOWNERSHIP GOALS AND THAT'S

[11:06] REALLY WHERE THE JOURNEY TO HOMEOWNERSHIP AND HOME STRETCH COURSES TIE INTO. WE SEE THE ONE ON ONE COACHING THAT WE'RE KIND OF BUILDING

[11:13] OUT A LITTLE BIT MORE THIS YEAR AS ANOTHER KEY CRITICAL TOOL FOR OUR RENTAL HOMES PARTICIPANTS SINCE 1993 WHEN

[11:21] THE PROGRAM WAS ORIGINALLY FOUNDED WE'VE HAD 61 HOUSEHOLDS PURCHASE A HOME AND

[11:26] THIS WILL BE COMING BACK TO THE BOARD LATER THIS YEAR WHICH IS A COMPREHENSIVE REVIEW OF THE ADMINISTRATIVE

[11:32] PLAN FOR THIS PROGRAM.

[11:38] NEXT WE'RE KIND OF MOVING NOW INTO THE FINANCIAL ASSISTANCE KIND OF BUCKET OF PROGRAMS, THE FIRST ONE BEING HCV

[11:45] HOMEOWNERSHIP. THIS IS A RELATIVELY NEW PROGRAM FOR THE AGENCY. WE HAVE OUR FIRST HOUSEHOLD

[11:50] THAT IS BE CLOSING IN THE NEXT TWO WEEKS SO IT'S VERY EXCITING BUT.

[11:56] AGAIN, RELATIVELY NEW PROGRAM THAT WE'RE ROLLING OUT I THINK A FEW KEY THINGS WITH THIS

[12:01] PROGRAM TO NOTE THIS IS YOU HAVE IN ORDER TO BE ELIGIBLE FOR THIS PROGRAM YOU HAVE TO BE IN ACTIVE HOUSING CHOICE

[12:07] PROGRAM PARTICIPANT IN BLOOMINGTON. SO AGAIN THE SCOPE OR OF THIS PROGRAM IS PRETTY NARROW. IT'S NOT IT'S NOT UNLIKE SOME

[12:15] OF THE OTHER PROGRAMS I'VE PREVIOUSLY DISCUSSED. THIS ONE IS REALLY NOT OPEN TO THE GENERAL PUBLIC OF BLOOMINGTON.

[12:21] THE FIRST FEW STEPS WITHIN THIS PROGRAM ARE REALLY LED BY

[12:26] THE PROGRAM PARTICIPANT AND THAT INCLUDES COMPLETING THE EDUCATION REQUIREMENTS, GETTING QUALIFIED A MORTGAGE

[12:33] AND APPLYING FOR A DOWN PAYMENT ASSISTANCE. OBVIOUSLY STAFF SUPPORT AND SERVES AS A CONNECTOR TO THOSE

[12:41] HOUSEHOLDS THAT ARE WORKING THROUGH THIS PROCESS BUT REALLY WE'RE HRA STAFF REALLY COME INTO PLAY IS AFTER A

[12:49] HOUSEHOLD HAS HAD AN OFFER APPROVED ON A HOUSE AND THEY'RE GOING THROUGH KIND OF THAT CLOSING PROCESS WE

[12:56] AGAIN REVIEW ELIGIBILITY FOR THE PROGRAM DO AN INCOME ANALYSIS AND ALSO COMPLETE EACH QC INSPECTION OF THE UNIT

[13:04] WHICH IS THE SAME INSPECTION THAT WE DO ON OUR RENTAL VOUCHERS AND THEN WE ENTER

[13:11] INTO A HAP CONTRACT OR A HOUSING ASSISTANCE PAYMENTS CONTRACT DIRECTLY WITH THE HOUSEHOLD. SO THIS IS A SHIFT FROM A

[13:17] TRADITIONAL VOUCHER THAT TYPICALLY THAT CONTRACT IS SIGNED BETWEEN US AND THE PROPERTY OR THE LANDLORD.

[13:22] THIS IN THIS INSTANCE WE SIGN IT DIRECTLY WITH THE TENANT AND THEN WE MAKE OUR HOUSING

[13:30] ASSISTANCE PAYMENTS DIRECTLY TO THE HOUSEHOLD THAT THEN USE TO PAY TOWARDS THEIR MORTGAGE THE CALCULATION IN TERMS OUR

[13:38] PORTION OF ASSISTANCE IS REALLY SIMILAR TO THAT UNDER THE VOUCHER OR TRADITIONAL VOUCHER PROGRAM REALLY THE ONLY EXCEPTION IS WE ALSO ADD

[13:47] AN ADDITIONAL ALLOWANCE FOR MAINTENANCE NEEDS. SO IN ADDITION TO A UTILITY ALLOWANCE ALSO RECEIVE FOR THE

[13:54] CALCULATION INCORPORATE IT'S A MAINTENANCE ALLOWANCE AS WELL. THAT'S THE KIND OF THE NUANCE

[13:59] THERE. SO THAT ASSISTANCE IS GUARANTEED FOR THE FIRST 15

[14:04] YEARS THAT THEY RESIDE IN THAT UNIT AS LONG AS THEY REMAIN ON TOP OF THEIR FAMILY OBLIGATIONS UNDER THE PROGRAM

[14:12] AND ONE OF THOSE BEING OUR MOST CRITICALLY BEING THE POST-PURCHASE COUNSELING THAT I MENTIONED BEFORE SO WE DID

[14:20] HAVE TWO HOUSEHOLDS GET REALLY CLOSE TO COMPLETING THE PROCESS IN 2024 AND LIKE I SAID ONE IS REALLY CLOSE TO

[14:27] CLOSING WE'RE HOPING THAT HAPPENS IN THE NEXT FEW WEEKS HERE IN 2025 WE'RE REALLY FOCUSING ON TARGETED ENGAGEMENT HOUSEHOLDS WHO HAVE

[14:35] ALREADY EXPRESSED INTEREST AND OR MEET PROGRAM QUALIFICATIONS WHETHER THAT BE INCOME OR OTHER KIND.

[14:43] THEY'VE INDICATED AN INTEREST IN HOMEOWNERSHIP PROGRAMING IN THE PAST AGAIN BECAUSE ONE THIS PROGRAM IS FOCUSED ON

[14:50] CURRENT HCV PARTICIPANTS AND ALSO OUR CURRENT ADMIN PLAN ONLY ALLOWS FOR UP TO FIVE

[14:57] VOUCHERS PER YEAR. THE REASON FOR THAT IS THESE VOUCHERS ARE FUNDED THROUGH OUR ANNUAL ALLOCATION SO WE DON'T GET ADDITIONAL FUNDS

[15:04] FROM HUD FOR THESE VOUCHERS. SO WE WANT TO BE COGNIZANT OF OUR UTILIZATION ACROSS THE PROGRAM WHEN FACILITATING THIS

[15:12] PROGRAM THE LAST FINAL FINANCIAL ASSISTANCE PROGRAM I WANT TO TOUCH ON TONIGHT IS

[15:17] DOWN ASSISTANCE. WE DID HAVE A HISTORICAL PARTNERSHIP WITH NEIGHBORWORKS

[15:23] AND THIS WAS FUNDED THROUGH THE AMERICAN RESCUE RESCUE PLAN ACT DOLLARS THROUGH THIS WE FUNDED JUST OVER $218,000

[15:31] OF DOWN PAYMENT ASSISTANCE WHICH AVERAGES OUT TO ABOUT

[15:37] $10,400 PER YEAR PER AWARD I GUESS IS THE BEST WORD AND

[15:45] LIKE I SAID THESE FUNDS HAVE ALREADY FULLY BEEN EXPENDED. THIS WAS A ONE TIME SOURCE OF FUNDING AND SO THIS PROGRAM

[15:51] WITH OUR PARTNERSHIP WITH NEIGHBORWORKS CURRENTLY IS KIND AT A CLOSE BUT WE ARE ROLLING OUT A NEW DOWN PAYMENT

[15:59] ASSISTANCE PROGRAM IN PARTNERSHIP WITH TWIN CITIES HABITAT FOR HUMANITY AS THIS BOARD IS AWARE AND WE

[16:06] ANTICIPATE THERE WILL BE ABOUT 25 HOUSEHOLDS SERVED THROUGH THIS PROGRAM OVER THE FIVE YEARS OF THAT AGREEMENT WITH

[16:12] HABITAT FOR HUMANITY. I THINK THE NICE NUANCE HERE IS THE ANTICIPATED SOURCES OF FUNDING ARE FUNDING FOR

[16:20] THIS PROGRAM THE TWIN CITIES HABITAT HOPEFULLY A MUCH MORE SUSTAINING SOURCE OF FUNDING.

[16:27] SO THERE ARE MORE OPPORTUNITIES TO HAVE THIS BE AT LIKE FUNCTION LESS AS A ONE TIME FUNDING SOURCE AND MORE

[16:33] AS AN ONGOING SOURCE POTENTIALLY. AND THEN I JUST WANTED TO

[16:38] QUICKLY LIKE PUT THIS ALL IN LIKE BIG PICTURE AND

[16:44] HIGHLIGHT THE OUTREACH AND TARGETED ENGAGEMENT THAT IS

[16:49] DONE THROUGH THESE VARIOUS PROGRAMS THAT I'VE HIGHLIGHTED TONIGHT BECAUSE SOME THEM ARE OPEN TO THE GENERAL PUBLIC AND THEN SOME OF THEM HAVE A REALLY TARGETED AUDIENCE FIRST

[16:56] BEING JOURNEY TO HOMEOWNERSHIP AND HOME STRETCH AGAIN ARE OPEN TO THE PUBLIC AND REALLY HOW THEY'RE RELEVANT TO THIS

[17:03] IS THAT THEY'RE HOSTED IN BLOOMINGTON AND WE DO TIE SOME OF OUR RENTAL LIKE RENTAL HOMES AND HCV HOME OWNERSHIP

[17:09] PARTICIPATION TO THESE PROGRAMS. BUT AGAIN IT'S OPEN TO THE GENERAL PUBLIC.

[17:16] WE A LOT OF THE PROMOTION HAPPENS WITH OUR PARTNERS WHO LEAD THOSE WORKSHOPS BUT WE DO ALSO ADVERTISE ON THE CITY

[17:23] CITY WIDE COMMUNICATIONS ABOUT THESE OPPORTUNITIES RENTAL HOMES FOR FUTURE HOMEBUYERS IS

[17:30] FILLED THROUGH AN EXISTING WAITING LIST AND WHEN THAT WAITING LIST IS OPEN WE'RE ACCEPTING APPLICATIONS. WE ADVERTISE THAT AVAILABILITY

[17:37] ON HOUSING LINK AND ALSO ON THE CITY WEBSITE FOR DOWN PAYMENT ASSISTANCE. THIS AGAIN WOULD BE TO INCOME

[17:46] QUALIFYING BLOOMINGTON RESIDENTS AND THE HCV HOMEOWNERSHIP PROGRAM IS

[17:52] AVAILABLE LIKE I MENTIONED TO CURRENT PROGRAM PARTICIPANTS ONLY FOR CITY WIDE COMMUNICATIONS.

[18:01] I JUST WANT TO HIGHLIG EVERY MARCH WE DO KIND OF A FULLER SPREAD OF HRA PROGRAMS AND

[18:09] IN THE BRIEFING AND I THINK THAT'S ONE KEY WAY THAT WE PROMOTE A LOT OF THESE OPPORTUNITIES THAT ARE ARE

[18:15] HAPPENING ON AN ONGOING BASIS UPCOMING ITEMS TO THIS BOARD

[18:21] IN 2025 I KNOW I MENTIONED A FEW OF THEM THROUGHOUT THE PRESENTATION BUT THERE'S A LOT OF POLICY AND MANUAL UPDATES

[18:26] COMING TO YOU THIS YEAR BOTH FOR THE RENTAL HOMES PROGRAM, THE REHAB PROGRAM AND ALSO THE

[18:33] HRA MANUAL UPDATE AND THEN HCV HOMEOWNERSHIP PROGRAM GUIDELINES THOSE ARE BAKED INTO OUR ADMIN PLAN FOR THE

[18:42] HOUSING CHOICE VOUCHER PROGRAM AND THAT AGAIN IS AN ANNUAL ITEM THAT COMES BEFORE THE BOARD FOR CONSIDERATION AND

[18:48] THEN YEAH JUST UPDATES AROUND THE DOWN PAYMENT ASSISTANCE PROGRAM WITH HABITAT ARE ANTICIPATED THROUGHOUT THE

[18:55] YEAR AS WELL. THAT CONCLUDES MY PRESENTATION . TURN IT OVER FOR QUESTIONS OR COMMENTS.

[19:00] THANK YOU.

[19:06] THANK YOU. SO I GUESS THIS MIGHT BE A

[19:11] QUESTION THAT MANY OF HAVE BUT HOW HOW OUR DECISIONS AT THE

[19:18] NATIONAL LEVEL AFFECTING THESE PROGRAMS AND SPECIFICALLY I'M THINKING ABOUT THE HCV PROGRAM

[19:25] NOT I WAS TRYING TO LOOK AND SEE WHICH ONES WERE FUNDED BY THE FEDERAL AND SOME OF THEM I

[19:30] WASN'T SURE BUT YEAH THANKS. THANKS CHAIR COMMISSIONER CARTER A MAJORITY OF THESE PROGRAMS RELY ON LOCAL FUNDING

[19:37] OR STATE FUNDING WITH THE EXCEPTION OBVIOUSLY OF THE HCV HOME OWNERSHIP PROGRAM AT THIS

[19:44] TIME FROM THE INFORMATION WE'VE RECEIVED FROM HUD WE ANTICIPATE THAT OUR REGULAR ALLOCATION THAT WE RECEIVE MONTHLY WILL CONTINUE FOR THE

[19:52] FORESEEABLE FUTURE. AND SO BECAUSE OF THAT WE'RE WORKING TO CONTINUE TO MEET OUR UTILIZATION GOALS UNDER THE PROGRAM WE HEAR

[19:59] DIFFERENTLY. SO WHAT HAPPENS IF THEY DO JUST STOP FUNDING THAT PROGRAM AND WE'VE ONLY GOT ONE PERSON

[20:06] THAT'S ALMOST THROUGH THE PROCESS BUT WHAT IS I MEAN AND MAYBE THAT'S NOT AN AT RISK PROGRAM I GUESS I'M JUST

[20:14] THINKING ABOUT YEAH. CHAIR COMMISSIONER FOR THE HOME OWNERSHIP PORTION YOU MEAN OR FOR THE HOUSING CHOICE

[20:20] VOUCHER PROGRAM IN GENERAL? BOTH I GUESS YEAH SO I WILL

[20:27] SAY AT THIS TIME WE HAVE NOT SO OUR GENERAL INFORMATION SO FAR IS THAT WHILE THERE ARE

[20:34] SOME A LOT OF THINGS HAPPENING AT THE FEDERAL LEVEL WE DON'T HAVE ANY CONCRETE INFORMATION ABOUT THE HOUSING CHOICE VOUCHER PROGRAM SPECIFICALLY

[20:41] RIGHT NOW WE'RE OPTIMISTIC AS AN ASIDE THAT WE WILL CONTINUE RECEIVING ALLOCATION DOWN THE ROAD. YOU KNOW THAT PROBLEM THAT

[20:50] PROGRAM RECEIVES IS A IT'S A SIGNIFICANT PORTION OF OUR FUNDING. IT'S 6 TO $7 MILLION. SO I THINK WE'LL HAVE TO JUST

[20:57] BE NIMBLE AND DEVISE A SOLUTION DEPENDING ON WHAT THOSE REDUCTIONS LOOK LIKE. THE HRA COULD PROGRAMING TO

[21:05] TRY TO FILL ANY GAP ACCORDING TO OUR BUDGET SO THAT TYPE OF REDUCTION WOULD NOT BE

[21:12] SOMETHING THAT WE COULD MAKE UP WITH HRA LEVY BUT WE COULD EXPLORE ADDITIONAL PROGRAMING ALSO THERE ARE SOME STATE

[21:19] COMING IN THE SPACE FOR A STATE FUNDED VOUCHER PROGRAM THAT MIGHT BE ANOTHER OPTION TO FILL THE GAP. AS OF RIGHT NOW WE'RE KIND

[21:27] OF JUST MAKING SURE WE'RE BEING AWARE OF ANY FEDERAL ANNOUNCEMENTS, THE SPACE AND THEN AGAIN IT'LL REALLY

[21:32] DEPEND. I THINK IT'S QUITE UNPREDICTABLE IN TERMS OF WHAT THAT WILL LOOK LIKE AND WHEN

[21:37] THAT WILL HAPPEN AND SO WE'RE JUST TRYING TO BE CONSCIOUS OF OUR PROGRAMING AND WHAT OPPORTUNITIES WE DO HAVE AND

[21:43] AND MOVING FORWARD WITH THE FUNDING THAT WE'RE RECEIVING AS SCHEDULED IS THIS FALL

[21:51] OF THE SAME UMBRELLA IS SECTION EIGHT. UM YES. SO I HAVE A CONCERN BECAUSE

[21:57] THEY ARE LOOKING AT REDUCING SECTION EIGHT. SO EVEN THOUGH THEY NOT TALKING ABOUT HCV SPECIFICALLY

[22:04] YEAH WE NEED TO BE LOOKING AT A SECOND CHOICE OR AN ALTERNATIVE PLAN FOR SURE. YEAH I AGREE AND WOULD SAY FOR

[22:12] HCV HOMEOWNERSHIP I THINK THAT ONE SPECIFICALLY BECAUSE THERE'S THE LONGER TERM 15

[22:19] YEAR OBLIGATION IF ALL OF A SUDDEN YOU THIS YEAR WE GET OR

[22:25] THESE FIVE PEOPLE YOU KNOW FIVE HOUSEHOLDS GET THROUGH THE PROCESS AND THEN WE HAVE A 15 YEAR OBLIGATION AND THEN

[22:30] THAT FUNDING THE PROGRAM THE PROGRAM IS GONE, YOU KNOW WHAT DOES THAT MEAN FOR CITY?

[22:37] WHAT LIABILITY DOES THAT MEAN? I MEAN OBVIOUSLY WE DON'T WANT TO SEE ANYBODY LOSE THAT BUT THEN ALSO IS IT IS THE THEN

[22:44] OBLIGATED FOR THE NEXT 15 YEARS TO FIGURE OUT SOME WAY TO PAY THAT OR ANYWAY AND MAYBE THOSE YOU MAY NOT HAVE

[22:52] THOSE ANSWERS RIGHT NOW BUT I GUESS I'M JUST THINKING LIKE WITH THAT KIND OF LOOMING RISK DO WE PUSH PAUSE ON THIS ONE

[22:59] SPECIFICALLY KNOWING THAT THERE IS A RISK THAT THE FUNDING MIGHT NOT EVEN BE THERE AND WE DON'T HAVE TO

[23:06] ANSWER ANY OF THOSE QUESTIONS TONIGHT BUT I GUESS IT JUST I

[23:11] FEEL WORRIED ABOUT I FEEL WORRIED ABOUT THE THE ENTIRE PROGRAM. BUT THEN AS WE'RE TALKING

[23:16] ABOUT HOME AND THE LONG TERM IMPLICATIONS OF THERE IF THE

[23:23] PROGRAM ISN'T THERE. SO I THINK YOU CAN MEASURE I WILL JUST SAY IN THE EVENT THAT OUR LIKE IS REDUCED OUR

[23:31] ADVENT PLAN KIND WALKS THROUGH HOW WE WOULD MAKE DECISIONS AROUND LIKE WHAT'S THE FIRST

[23:38] STEP WHAT'S THE SECOND STEP IN TERMS OF MAKING SURE THAT WE'RE FOR AS LONG AS POSSIBLE MEANING THE OBLIGATION OF THE

[23:46] HAVE CONTRACTS THAT WE'VE SIGNED FOR BOTH RENTAL ASSISTANCE AND FOR THE HCV HOME OWNERSHIP PROGRAM.

[23:51] I THINK THE ONE THING THAT'S SPECIAL ABOUT THE HCV HOME OWNERSHIP PROGRAM IS IT'S NOT ACTUALLY CREATING A NEW

[23:57] VOUCHER. SO THIS IS A HOUSEHOLD WE'RE ALREADY ASSISTING WE'RE JUST ASSISTING THEM IN A DIFFERENT WAY AND.

[24:03] SO EVEN IF FOR EXAMPLE WE WERE TO DECIDE TO MOVE FORWARD, THAT HOUSEHOLD IS SOMEONE

[24:08] WE'RE ALREADY SERVING THROUGH THE PROGRAM AND I THINK I THINK THAT'S AN IMPORTANT NUANCE BECAUSE WHILE WE'RE COMMITTING TO THEM IN A

[24:14] DIFFERENT WAY THROUGH THE HAP CONTRACT, THE HCV HOME OWNERSHIP PROGRAM THEY THEORETICALLY WOULD ALREADY BE RECEIVING ASSISTANCE FROM OUR

[24:22] OFFICE FOR POTENTIALLY THAT 15 YEAR TIME FRAME TOO. SO THAT'S REALLY HELPFUL CLARIFYING INFORMATION AND I

[24:29] THINK WHAT WORRIES ME THOUGH IS IF ALL OF A SUDDEN THOSE VOUCHERS GO AWAY THEN SOMEBODY IS LIVING IN A HOUSE WITH A

[24:34] MORTGAGE AND THEY CAN'T MAKE THE MORTGAGE PAYMENT. WHAT DOES THAT MEAN FOR THEM AND THEIR FAMILY SO I WAS

[24:40] OBVIOUSLY STILL A BIG DEAL IF THEY'RE RENTING AND THEY LOSE THE VOUCHER BUT TO HAVE THE

[24:45] OBLIGATION OF A MORTGAGE AND ALL OF THAT THAT'S I THINK

[24:51] WHAT WORRIES ME. BUT I BUT THANK YOU FOR CLARIFYING ON THAT. IT'S NOT LIKE DIFFERENT VOUCHERS DO YOU THINK OKAY I

[25:00] ACTUALLY HAVE A LIST TO HAVE SOMETHING THAT I HAVE A QUESTION ABOUT THE DOWN PAYMENT ASSISTANCE PROGRAM

[25:06] THAT YOU'RE PARTNERING WITH HABITAT FOR HUMANITY IS THAT OPEN TO AND I THINK YOU SAID ANY RESIDENT OR THEIR

[25:13] QUALIFICATIONS FOR I MEAN I KNOW THERE'S USUALLY INCOME QUALIFICATIONS BUT DO THEY

[25:20] ALREADY HAVE TO BE IN A PROGRAM HOUSING PROGRAM WITHIN BLOOMINGTON SO I'M NOT SURE

[25:29] I'M SO SORRY I DIDN'T BECAUSE YOU REPEAT THE QUESTION. WELL HABITAT WE'RE PARTNERING WITH HABITAT FOR HUMANITY FOR DOWN PAYMENT AND I THINK ON

[25:36] THE ONE SLIDE IT SAID IT'S OPEN TO THE PUBLIC AND I JUST WANTED CLARIFICATION IF IS OR

[25:43] IF YOU ALREADY HAVE TO BE INVOLVED IN A HOUSING PROGRAM IN BLOOMINGTON YEAH CHAIR AND COMMISSIONERS I'M ACTUALLY NOT

[25:51] SURE THE ANSWER TO THAT QUESTION. I BELIEVE IT IS OPEN BUT THEY'LL BE HANDLING THE BULK OF THE RECRUITMENT BUT THAT'S SOMETHING WE CAN DOUBLE CHECK

[25:56] AND, VERIFY AND GET BACK TO YOU ON. OKAY THANK YOU COMMISSIONER.

[26:01] MORE LATER. THANK YOU FOR THE PRESENTATION. I'VE BEEN THINKING ABOUT THIS

[26:10] A LOT AND I THINK YOU ALL KNOW I'M VERY SUPPORTIVE OF THE HOMEOWNERSHIP PROCESS. RIGHT. AND THE ONE PIECE THAT I'VE

[26:15] BEEN THINKING A LOT LATELY IS THE INCREASE IN HOME PRICES AS

[26:24] WELL AS THE LESS INCREASE IN CAREER. AND WHEN I THINK OF OUR HOMES

[26:30] THOSE TWO GO HAND IN HAND BUT HOME PRICES INCREASE. HOW DO PEOPLE AFFORD HOUSES

[26:36] WHEN WHEN THEIR SALARIES AREN'T KEEPING UP? AND I DID SOME QUICK MATH

[26:43] RIGHT SO FOR THE THE RENTAL FOR A FUTURE HOMEBUYERS 61 HOW ARE HOMES PURCHASED IN 93

[26:50] THAT'S 32 YEARS THAT'S ONLY THAT'S LESS THAN TWO A YEAR THAT WE'RE GETTING IT'S ALL THE PIECE THAT SEE THAT WE'RE

[26:57] POSSIBLY MISSING AND I'M WONDERING IF WE HAVE PARTNERS IN AS DO WE HAVE CAREER COACHING OPPORTUNITIES TO HELP

[27:03] LEVEL UP IN THEIR CAREERS TO INCREASE THEIR EARNINGS BECAUSE I THINK THAT LEADS TO

[27:08] A LOT OF MORE OPPORTUNITY FOR HOME ESPECIALLY IN THE HOME MARKETPLACE. I MEAN IF YOU BOUGHT A HOME

[27:15] BEFORE 2020 YOU'RE ABLE TO CAPITALIZE ON DOUBLE DIGIT GROWTH OVER THE LAST FIVE YEARS WHEREAS IF YOU WERE AREN'T YOU'VE BEEN TRYING TO

[27:23] SAVE YOUR CAREER JUST ISN'T PROGRESSING. THERE'S NO WAY YOU CAN CAPTURE THAT AND GET INTO IT NOW. SO THAT'S MY QUESTION IS DO WE

[27:30] HAVE ANY PARTNERSHIPS OR POSSIBLE OPPORTUNITIES TO INCREASE THAT CAREER COACHING THAT GOES HAND IN HAND WITH THE HOMEOWNERSHIP PIECE?

[27:36] THANK YOU CHAIR AND COMMISSIONER MILLER I WOULD SAY A FEW FEW COMPONENTS

[27:42] SPECIFICALLY WITH THE RENTAL HOMES FOR FUTURE HOMEBUYERS PROGRAM THERE IS A COMPONENT OF THE PROGRAM THAT'S ANNUAL

[27:47] GOAL SETTING AND AT A BARE MINIMUM PART OF THAT GOAL SETTING IS LIKE HOW WE

[27:53] EVALUATING OVERALL HOUSEHOLD INCOME AND PURSUING OPPORTUNITIES TO INCREASE HOUSEHOLD INCOME. THAT'S PART OF THE

[27:58] CONVERSATIONS THAT WE'RE HAVING ANNUALLY WITH THE HOUSEHOLDS ON TOP OF THAT THE PARTNERS THAT WE WORK WITH FOR

[28:04] HOMEOWNERSHIP AND HOME STRETCH SO PEOPLE AND POTENTIALLY OTHER PARTNERS ALSO HAVE

[28:12] FINANCIAL COUNSELING AS PART OF THEIR LIKE PROGRAMING THAT THEY GENERALLY OFFER. AND SO I KNOW FOR SOME

[28:17] HOUSEHOLDS SOMETHING THAT THEY'VE ALREADY TAKEN ADVANTAGE OF WHEN THEY'VE CONNECTED TO PEOPLE THROUGH

[28:23] THE JOURNEY TO HOMEOWNERSHIP PROGRAM. SO IT'S IT'S HAPPENING SOMEWHAT BUT IT'S NOT AGAIN AS

[28:28] YOU'RE MENTIONING KIND OF LIKE A TARGETED REQUIREMENT FOR THE PROGRAM AT THIS POINT. BUT IT'S DEFINITELY SOMETHING THAT WE CAN EXPLORE AS PART

[28:35] OF THAT CONTRACT TOO. YEAH, I'D LOVE TO SEE WHAT WE HAVE TO INCREASE BOTH LEVERS SO THANK YOU

[28:46] . WELL I MIGHT JUST ADD COMMISSIONERS THAT THE TURNOVER THIS PROGRAM IS ALSO VERY FAIRLY LOW.

[28:51] IT'S A LONGER TERM PROGRAM SO I THINK WE'RE GETTING TURNOVER OF BETWEEN THREE AND FIVE A

[28:57] YEAR. SO HAVING AN AVERAGE OF ABOUT ONE OR TWO MORE OF THEM GRADUATING TO OWN THEIR OWN HOME IS A FAIRLY SUCCESS RATE

[29:03] FOR THIS PROGRAM. BUT YES, AS AS AN ASSET AND AS WE'VE DISCUSSED I THINK EXPLORING WHERE WE ARE

[29:08] EXPLORING ADDITIONAL AND WE CAN CONTINUE TO DO SO TO MAKE THAT SUCCESS RATE EVEN HIGHER

[29:17] . ANY OTHER QUESTIONS, COMMENTS . THANK YOU. YEAH.

[29:25] ALL RIGHT. THE NEXT ITEM OF BUSINESS IS THE HEIGHTS TAX INCREMENT

[29:32] FINANCING DISTRICT. MAY WE HAVE THE STAFF REPORT? THANK YOU CHAIR AND COMMISSIONERS SO A FAMILIAR

[29:39] ITEM TONIGHT IS THE HEIGHTS AND WE'RE LOOKING TONIGHT SPECIFICALLY AT A COMPONENT OF THE FINANCING PACKAGE WHICH IS THE TAX INCREMENT FINANCING

[29:45] DISTRICT. SO TO GROUND YOU AGAIN WITH THIS THIS IS THE 30 UNIT

[29:51] CONDOMINIUM OVER XERXES AVENUE SOUTH. THE PROJECT IS A COMPREHENSIVE RENOVATION OF THEIR PARKING

[29:59] STRUCTURE WHICH WAS HAD ITS CERTIFICATE OF OCCUPANCY REVOKED BY THE CITY IN AUGUST OF LAST YEAR. THE PROJECT WILL ALSO INCLUDE

[30:07] REPLACEMENT OF BALCONIES THAT ARE NOT COMPLIANT WITH BUILDING CODE AND IT WILL INCLUDE IMPROVEMENTS TO BUILDING ACCESSIBILITY ARE

[30:15] REQUIRED BY BUILDING CODE AND THERE ARE NO ZONING OR LAND USE CHANGES THAT WOULD RESULT FROM THIS PROJECT AND THEN I

[30:22] MENTIONED THAT AS A RESULT OF THIS PROJECT THE BUILDING WILL BE ABLE TO MEET ITS REQUIREMENTS FOR PARKING

[30:27] MINIMUMS THAT IMPOSED THROUGH ZONING AND LAND USE.

[30:34] CAN YOU GO NEXT SLIDE PLEASE. I DON'T KNOW WHY TUCKER SO

[30:40] THANK YOU. SO I'VE LISTED SOME OF THE RECENT ACTIONS THAT ARE PERTINENT TO THE CURRENT APPLICATION FOR FINANCING.

[30:48] THIS LEAVES OFF THE SEVEN OR EIGHT YEARS PREVIOUS THAT INCLUDED PRIOR TWO APPLICATIONS FOR HIV FINANCING SO AS YOU'RE AWARE THE HRA YOU

[30:56] AS A BODY APPROVED IN MADE A RECOMMENDATION FOR APPROVAL OF THE REQUESTED HOUSING IMPROVEMENT AREA BACK

[31:02] IN OCTOBER AND THAT INITIATED THIS PROCESS OF IT MOVING THROUGH APPROVALS WHICH INCLUDED THE CITY COUNCIL AND

[31:08] ITS PUBLIC HEARING. AND THEN WE'VE CONTINUED TO IMPLEMENT THE COMPONENTS OF THE THE FINANCING PACKAGE

[31:14] WHICH DO INCLUDE THE TAX INCREMENT FINANCING DISTRICT AND SO AS PART OF ESTABLISHING A TIFF DISTRICT THERE WAS A

[31:19] PUBLIC HEARING LAST NIGHT AND WE DID RECEIVE SOME PUBLIC TESTIMONY WHICH EMPHASIZED THE

[31:26] URGENCY OF THIS PROJECT AND SO THEN TONIGHT WE HAVE THE CONSIDERATION OF ESTABLISHING THAT TIFF DISTRICT AND THEN

[31:34] LATER ON IN THE PRESENTATION I'LL GO THROUGH NEXT STEPS WITH THE PROJECT A WHOLE SO WHAT WAS APPROVED IN THAT

[31:40] FINANCIAL PACKAGE IS THIS LIST OF ITEMS AND THE DIFFERENT COMPONENTS ALLOW FOR A LEVEL

[31:48] OF AFFORDABILITY THAT STAFF WERE COMFORTABLE RECOMMENDING FOR APPROVAL AND THAT WAS CHANGED FROM THE PREVIOUS TWO

[31:54] APPLICATIONS IN WHICH STAFF FELT THAT THE FINANCIAL BURDEN RESULTING FROM THE REQUESTED HRA WAS TO IT WAS TOO EXTREME

[32:02] FINANCIALLY SO THE SIGNIFICANT ENTER FUND LOAN FROM THE HRA PROVIDES LOW INTEREST

[32:09] FINANCING THAT INCREASES THE AFFORDABILITY OF THE LOAN AND THEN ESTABLISHING A TIFF DISTRICT DECREASES WHAT THE

[32:16] WILL HAVE TO PAY AND THEN FINALLY THERE WAS AN APPROVAL INVESTMENT OF LOCAL AFFORDABLE HOUSING AID THROUGH A DIRECT

[32:22] INCOME BASED ASSISTANCE PROGRAM AND THAT'S 450,000 WHICH WE HAVE BEGUN

[32:27] ADMINISTERING. THERE WERE EIGHT APPLICANTS, SIX OF WHOM QUALIFIED FOR THE ASSISTANCE.

[32:34] FIVE OF THOSE APPLICANTS ARE OWNER OCCUPIED HOUSEHOLDS AND ONE IS A UNIT THAT IS RENTED AND SO THAT UNIT WILL HAVE

[32:41] AFFORDABILITY RESTRICTIONS. SO WE'LL CONTINUE FORWARD WITH THOSE UNITS THAT HAVE BEEN WE'VE HAD FUNDING COMMITTED

[32:48] THEM SO ALL TOGETHER THIS PACKAGE MAKES FOR A MORE AFFORDABLE HRA REQUEST SO PART

[32:57] OF TONIGHT SO TONIGHT WE'RE CONSIDERING THE APPROVAL OF A REDEVELOPMENT OF DISTRICTS AND TO MAKE THAT APPROVAL THERE

[33:02] ARE STATUTORY FINDINGS THAT HAVE TO BE MADE. SO I'M GOING TO BRIEFLY GO

[33:08] THROUGH AN OVERVIEW OF WHAT THOSE FINDINGS ARE. SO THE FIRST IS THAT THE DISTRICT AND THE PROJECT QUALIFY FOR REDEVELOPMENT

[33:15] DISTRICTS AND THE WAY TO MAKE THAT FINDING IS TO COMPLETE A SUBSTANDARD STRUCTURE ASSESSMENT AND SO THE CITY'S

[33:23] BUILDING OFFICIAL DID DO THAT ANALYSIS AND MAKE THAT FINDING AND THAT WAS THAT TO BRING THE BUILDING UP TO CODE COMPLIANCE

[33:30] IT'S IN EXCESS OF 15% OF THE COST TO REPLACE THE BUILDING AND IN CASE THAT THE COST FAR

[33:37] EXCEEDS 50% OF THE VALUE OF THE BUILDING SO THAT FINDING WAS MADE THE NEXT STATUTORY FINDING IS BUT FOUR

[33:45] TEST WHICH IS THAT THIS PROJECT COULD NOT OCCUR BUT FOR USE OF TAX INCREMENT FINANCING AND IN THIS CASE THE HRA FINANCIAL PACKAGE THAT WAS

[33:53] APPROVED BY THE HRA IN THE CITY COUNCIL THAT REQUIRES THE COMPONENT FOR THAT LEVEL OF AFFORDABLE D TO BE

[34:01] POSSIBLE. SOF TIFF WERE NOT APPROVED THEN THAT APPROVED HRA PACKAGE WOULD NOT BE FEASIBLE AND THERE HAVE TO BE RESTRUCTURING

[34:08] OF THE PROJECT. THE NEXT FINDING IS THE TIFF PLAN AFFORDS THE MAXIMUM OPPORTUNITY FOR THIS

[34:15] DEVELOPMENT AND SO WE'VE HIGHLIGHTED THAT YES THE INCREMENT FINANCING ALLOWS FOR THE AFFORDABILITY TO THE

[34:20] HEIGHTS OWNERS AND IT ALSO INCREASES THE SECURITY OF THE BOND AND RAISE ENTER FUND LOAN

[34:27] BECAUSE AS THOSE TIFF REVENUES COME IN THEY WILL GO TO REPAYING THOSE OBLIGATIONS SPECIFICALLY THE BOND

[34:34] PRIMARILY AND THEN THE FINAL FINDING THAT THE PLAN THE TIFF PLANS CONFORM WITH GENERAL PLANS FOR DEVELOPMENT OF THE

[34:41] CITY AS A WHOLE AND THE COUNCIL MADE THAT FINDING AT ITS MEETING LAST NIGHT AS PART

[34:46] OF THEIR RESOLUTION TO APPROVE THE TIFF DISTRICT THE PLANNING COMMISSION CONSIDERED MAKING THAT FINDING ITS JANUARY 30TH

[34:52] MEETING BUT ULTIMATELY DIDN'T VOTE TO MAKE THAT FINDING SO STAFF BROUGHT THAT FOR CONSIDERATION TO THE CITY

[34:58] COUNCIL LAST NIGHT AND THEY DIDN'T MAKE THAT FINDING. SO HERE IS TIFF DISTRICT WHICH

[35:04] THE PROJECT BOUNDARY IS COTERMINOUS WITH THE HEIGHTS PARCEL AND YOU'LL SEE IT

[35:10] INCLUDES THE 30 CONDOMINIUM UNITS AS WELL AS THEIR OWNED PARKING AND THAT'S SO THAT'S

[35:17] THE SQUARES AND CIRCLES THIS JUST HIGHLIGHTS WHAT STAFF IDENTIFIED AS THE CITY'S

[35:23] GENERAL PLANS FOR DEVELOPMENT AS A WHOLE AND HOW THEY ALIGN WITH THE TIFF PLAN. SO THOSE WERE HIGHLIGHTED THE

[35:31] COUNCIL AS WELL LAST NIGHT AND THEN AS I MENTIONED WE'LL GO THROUGH THESE NEXT STEPS. SO THIS EVENING WE'LL HAVE

[35:37] THIS FOR THE TIFF DISTRICT AND THEN IF THAT'S APPROVED THEN

[35:42] WE'LL MOVE FORWARD WITH EXECUTING A DEVELOPMENT AGREEMENT BETWEEN THE HRA AND THE HEIGHTS CONDOMINIUM ASSOCIATION. ONCE THAT'S IN PLACE THEN

[35:50] WE'LL HAVE THE ABILITY TO DEPLOY FINANCING TO BEGIN CONSTRUCTION AND IN MY DISCUSSION WITH THE

[35:58] ASSOCIATION THEY'RE EXPECTING CONSTRUCTION COULD BEGIN AROUND APRIL AND MAY AND THEN THE EXPECTATION IS THAT THAT

[36:04] WOULD BE COMPLETED THIS YEAR IN 2025. SO REMAINING ITEMS TO APPEAR

[36:10] BEFORE PUBLIC BODIES ARE ASSOCIATED THE BOND SO WE'VE DECIDED TO MOVE FORWARD WITH

[36:18] WHAT'S CALLED A NEGOTIATED BOND SALE AND THAT WILL BE HANDLED BY OUR MUNICIPAL WHICH IS BAKER TILLY SO THEY'LL CONDUCT AN RFP AND BANKS CAN

[36:25] SUBMIT A PROPOSAL TO PURCHASE THOSE BONDS AND THEN ONCE ONCE THAT RFP PUTS FORWARD A

[36:33] PROPOSAL THAT PROPOSAL WILL GO TO THE CITY COUNCIL FOR FINAL SO THAT ITEM IS EXPECTED IN SPRING OF THIS YEAR AND THE

[36:41] TIMING WILL BE DETERMINED OF WHEN THOSE FUNDS ARE NEEDED THE CONSTRUCTION AND ONCE THAT'S COMPLETED WE'LL HAVE THE AN UNDERSTANDING OF THE

[36:48] FINAL INTEREST COSTS THAT ARE RELEVANT TO THE FINANCING PACKAGE AT WHICH POINT THE FEE PER UNIT BE RECALCULATED AND

[36:55] THEN THOSE ASSESSMENTS WILL BE SENT TO THE COUNTY. AND SO ONCE THOSE ARE IN PLACE THAT BEGINS THAT 20 YEAR TERM

[37:01] FOR THAT FINANCING. SO I'VE HIGHLIGHTED THE DEVELOPMENT AGREEMENT TERMS

[37:07] THAT I FELT WERE IMPORTANT TO GO OVER AS A BODY AND THIS IS A BETWEEN THE HRA AND THE

[37:15] CONDOMINIUM ASSOCIATION SO I'LL JUST BRIEFLY GO THROUGH THESE THE MAIN MAIN ITEM THAT

[37:21] I THINK THE BODIES WILL WANT TO KNOW IS THAT THERE IS A ANNUAL REPORTING REQUIREMENT THAT THE CONDOMINIUM ASSOCIATION WILL MAKE WHICH

[37:29] INCLUDES THERE A REPORT ANNUALLY ON THEIR FINANCES AS WELL AS AN ANNUAL REPORT

[37:36] CONDUCTED BY AN ENGINEER ON THE PHYSICAL CONDITIONS OF THE PROPERTY. THOSE IMPROVEMENTS ARE MADE SO

[37:41] THAT WE'LL GET SOME ASSURED THAT ONCE THE IMPROVEMENTS ARE MADE THAT THEY STAY IN GOOD CONDITION AND, GET THE

[37:47] LONGEVITY THAT'S NEEDED FROM THIS IMPROVEMENT SO SOME OF THE OTHER TERMS TO HIGHLIGHT ARE EMPHASIZING

[37:55] FISCAL RESPONSIBILITY. SO THAT'S THAT OVERSIGHT OF THE FINANCIAL PLAN. IT'S ALSO A REQUIREMENT THAT

[38:02] THE ASSOCIATION WILL AGREE TO HOLD A MINIMUM BALANCE WITHIN THEIR RESERVE FUND SO THAT IF SOME SIGNIFICANT EXPENSES

[38:09] ARISE SUCH AS THERE IS A EXPECTATION THAT THE ROOF WILL NEED REPLACING THAT THEY'LL HAVE THAT MINIMUM BALANCE

[38:17] IN TO MAKE THAT COST. AND THEN THE OTHER TERM THAT I WANTED TO HIGHLIGHT ARE THAT

[38:22] IF COLLECTIONS OF REPAYMENTS FROM UNIT OWNERS EXCEED WHAT

[38:29] OBLIGATION WHAT THE OBLIGATIONS ARE THAT EXCESS GETS RETURNED TO THOSE OWNERS AT THE END OF THE TERM WHICH

[38:37] COULD BE AT THE END OF 20 YEARS OR IT COULD BE AT THE POINT THAT IF ENOUGH COLLECTIONS ARE MADE THE

[38:43] IN THE CITY COULD CHOOSE TO REPAY ITS BOND EARLY IF THAT IS PART OF THE THE BOND AND THE NEGOTIATED BOND AGREEMENT

[38:51] AND REPAY THE HRA IN HER FUND LOAN EARLY AS WELL SO THOSE ARE IN CONSIDERATION AS WELL AND INCORPORATED INTO THE DEVELOPMENT AGREEMENT.

[38:59] SO WITH THAT I CAN STAND FOR QUESTIONS. WE DO HAVE THIS RECURRENT RECOMMENDED MOTION

[39:06] COMMISSIONER WOOTEN FOR THE ANNUAL REPORT FROM THE

[39:16] CONDOMINIUM ASSOCIATION IS THAT A PARTY AUDIT REPORT CHAIR AND COMMISSION CHAIR AND

[39:25] COMMISSIONERS THE REPORT WOULD BE PREPARED BY THE HRA MANAGEMENT COMPANY AND SO THAT'S IN THIS CASE THAT'S WESTPORT BUT IS IT AUDITED?

[39:33] WELL WE THE CITY HAVE THAT OVERSIGHT TO MAKE THE INQUIRY ON THOSE DOCUMENTS THE BACKING

[39:40] DOCUMENTS FOR THAT REPORT I WOULD ASK THAT THEY BE AUDITED CPA AUDITED

[39:54] THEIR QUESTIONS AND THAT'S OKAY BEFORE WE MOVE

[40:05] TO ADOPT THE EMOTION I WAS WONDER IF ANYONE FROM THE HEIGHTS WOULD LIKE TO SPEAK NO

[40:16] PRESSURE. YOU DON'T HAVE TO BUT IF YOU WANT TO COMMENT JUST KEEP IT UNDER 5 MINUTES OR IF NOT NOT

[40:26] COULD JUST AND IF YOU COULD STATE YOUR NAME FOR THE

[40:35] RECORD. SURE. MY NAME IS SUSAN SCHULBERG. I LIVE IN THE HEIGHTS UNIT 105I HAVEN'T PREPARED ANYTHING

[40:41] WASN'T EXPECTING YOU WERE ALLOWED TO SAY SOMETHING. I HOPE YOU FOLKS CAN HELP US.

[40:49] I HOPE YOU WILL APPROVE THIS BECAUSE SOME OF US HAVE LIVED THAT LIVED THERE QUITE A WHILE AND THIS IS HOME.

[40:56] IT'S REALLY HARD PARKING OUT THERE ON THE STREET ALL WINTER LONG YOU DEALING WITH WINTER WEATHER AND ICY ROADS AND BEING CAREFUL TO FALL AND

[41:03] BREAK BONES SO YES, PLEASE PLEASE JUST HELP US.

[41:09] THANK YOU. THANK YOU ALL RIGHT.

[41:17] NEXT TO A NEED A MOTION TO ADOPT RESOLUTION NUMBER 025-7A

[41:27] RESOLUTION ESTABLISHING THE HEIGHTS REDEVELOPMENT PROJECT SITE AND APPROVING A

[41:32] REDEVELOPMENT PLAN THERE FOUR ESTABLISHING THE HEIGHTS TAX

[41:38] FINANCING DISTRICT AND APPROVING A TAX INCREMENT FINANCING PLAN. THEREFORE AND AUTHORIZING THE

[41:46] EXECUTION OF RELATED DOCUMENT APPROVE SECOND MOTION TO

[41:53] APPROVE BY WOOTEN AND SECONDED BY WHO SHE I SORRY I PRONOUNCE YOUR NAME WRONG SORRY IRATE

[42:00] ALL IN FAVOR I I WRITE MOTION

[42:06] PASSES TO ZERO

[42:13] SO NEXT ADMINISTRATOR ABE HAS SOME

[42:22] UPDATES YES JUST A COUPLE OF QUICK BEFORE WE MOVE TO THE CLOSED SESSION I WANTED TO

[42:29] JUST MAKE YOU ALL AWARE YOU MAY HAVE SEEN YOU KNOW WE'VE HAD A LOT OF CONVERSATION ABOUT THE FEDERAL FUNDING TONIGHT. THERE IS A DEADLINE OF MARCH

[42:35] 14TH FOR THE GOVERNMENT TO PASS A BASICALLY A CONTINUING TO CONTINUE SPENDING IF THERE ISN'T A RESOLUTION PASSED ON

[42:43] THE 14TH THAT WOULD RESULT IN A FEDERAL GOVERNMENT SHUTDOWN. SO WE'RE JUST KEEPING AN EYE ON THIS, MONITORING IT.

[42:48] WE MAY HAVE MORE INFORMATION FOR ON MARCH 11TH ABOUT IF THERE WOULD BE ANY IMMEDIATE IMPACTS TO THE HRA AS A RESULT

[42:55] OF THAT. RIGHT NOW WE'RE LOOKING AT RECORDS OF WHAT'S HAPPENED IN PREVIOUS SHUTDOWNS AND IT DOES LOOK LIKE WE RECEIVED PAYMENTS ON TIME AT THAT TIME

[43:03] BUT WE'RE STILL KIND OF TRYING TO EXPLORE OPTIONS AND MAKE SURE WE HAVE A CONTINGENCY PLAN IN PLACE. IF ANYTHING WERE TO HAPPEN THE NEXT NOTE IS JUST A HEADS UP

[43:12] THAT WE HAVE ONE MEETING SCHEDULED IN MARCH ONLY IT'S MARCH 11TH THE FIRST TUESDAY. THERE IS NOT A SECOND MEETING SCHEDULED IN MARCH SO JUST

[43:19] MAKE SURE TO HAVE THAT IN YOUR HEADS. YOU DON'T NEED TO COME FOR THE SECOND MEETING IN MARCH AND THE LAST THING IS THAT WE ARE

[43:25] CONSIDERING NO LONGER PRINTING PACKETS FOR EACH OF THE YOU CAN YOU FEEL FREE TO USE YOUR IPADS ALSO IF YOU WOULD LIKE A

[43:32] PRINTED PACKET DEFINITELY WE CAN PROVIDE THAT WE'RE JUST NOT SURE IF PEOPLE ARE WANTING THEM OR USING THEM OR IF YOU WOULD LIKE TO USE AN

[43:38] ELECTRONIC VERSION. SO IF YOU WOULD LIKE A PRINTED PACKET IN THE FUTURE PLEASE JUST LET US KNOW AND WE CAN

[43:44] MAKE SURE TO GET ONE PRINTED FOR YOU FOR THE MEETINGS. IS THERE ANYONE HERE THAT KNOWS YOU WOULD LIKE A PRINTED

[43:49] PACKET. OKAY GREAT. YES THAT'S GREAT THAT'S HAVE FOUR UPDATES FEATURE SO I

[44:02] TOTALLY UNDERSTAND AND I PRINTED THE PACKETS. CAN WE AT LEAST GET THE AGENDA PRINTED LIKE TO TAKE NOTES ON. YES.

[44:12] ALL RIGHT. SO NOW WE NEED A MOTION TO GO INTO A CLOSED SESSION.

[44:19] SOME WOULD BY KLINGER IN SECONDED BY COMMISSIONER OH

[44:31] DIRECTING CLOSURE OF A PUBLIC MEETING THIS I'M IN AN ARTERY

[44:38] HERE THAT

[44:45] OH I'M SORRY BEFORE WE CLOSE BEFORE WE CLOSED THE MEETING OUR ATTORNEY WOULD LIKE TO SAY A FEW WORDS

[44:59] MICHAEL KIND OF LIKE

[45:24] IF THERE IS A SECOND

[45:44] THERE JUST CLOSED SESSION SO IT'S OKAY WE'LL

[45:53] JUST GO TO THE COURT SESSION OKAY. WE ARE NOW IN A CLOSED SESSION AND THAT TOOK A MINUTE PARDON.

[46:02] GIVE THE FACT THE MINUTES OH I THOUGHT THEY WERE DONE. OKAY. SORRY SORRY

[46:51] . YEAH

[54:49] , THAT'S

[1:15:35] AND THE TIME IS 714 SO WE'LL GIVE WE'LL GIVE TAC JUST A MINUTE AND THEN

[1:15:42] WE'LL MOVE TO THE OPEN SESSION

[1:16:10] . WE'RE READY. LET ME GET

[1:16:24] SO ARE READY FOR ONE MORE SECOND OKAY

[1:16:39] GOOD THANK OKAY WE ARE BACK TO THE

[1:16:47] OPEN SESSION AND I WILL NEED A MOTION TO AUTHORIZE AND DIRECT

[1:16:55] STAFF TO TAKE ACTIONS CONSISTENT WITH DISCUSSION DURING THE CLOSED MEETING MOVED SIR SO I CAN MOVE BY

[1:17:03] COMMISSIONER WOOTEN SECOND BY DOUBLING BOLLINGER TO AUTHORIZE AND DIRECT STAFF TO

[1:17:10] THESE ACTIONS CONSISTENT WITH THE CLOSE MEETING ALL IN FAVOR I MOTION PASSES SIX ZERO RATE

[1:17:19] THAT IS THE END OF OUR AGENDA SO NOW I HAVE I NEED A MOTION TO ADJOURN THE TUESDAY,

[1:17:26] FEBRUARY 25TH 2020 EACH AREA BOARD MEETING MOVED BY COMMISSIONER WOOTEN AND SECOND

[1:17:34] BY COMMISSIONER MUELLER ALL IN FAVOR I I IRATE MEETING ADJOURNED.

[1:17:39] THANK YOU