--- title: 2026-07-20 EDA Minutes ## author: Justin LaRue date: D:20210914194400Z --- ## Richfield Economic Development Authority Minutes July 20, 2026 ## Note: Meeting begins immediately following HRA Meeting ## Richfield Municipal Center ## Council Chambers ## 6700 Portland Avenue South 1. ## Call to Order Called to order at 7:14pm 2. ## Roll Call 3. ## Open Forum a. Participants can share their comments in person, by voicemail, or email, and may also request to participate virtually. For more information on submitting comments, refer to the Economic Development Authority Agenda and Minutes page on the City's Website. 4. Approval of the Agenda Supple moved approval with amendment item 13a to Other Business as item 11a. ## As amended Supple/seconded by Hayford Oleary Motion carries: 5:0 5. ## Approval of Minutes Approval of minutes May 18, 2026. ## Motion: Young/Britt Motion carries: 5:0 a. Approval of the Minutes of the Regular Economic Development Authority Meeting of May 18, 2026. 6. ## Presentations 7. ## Consent Calendar a. Consideration of a policy for use of the 4d (1) tax classification as a tool to create and preserve affordable housing. Poehman presented Consent Calendar item(s). ## Motion: Young/Supple Motion carries: 5:0 8. ## Consideration of Items, if Any Removed From Consent Calendar 9. ## Public Hearings 10. ## Resolutions 11. ## Other Business Item 13a moved to 11a. Hillary Lovelace presented item 11a, Continuation of Consideration of Transformation Home Loan Guideline Revisions. Housing Specialist Lovelace reviewed the remodeling program for small and outdated homes, noted 2025 indicated a smaller share of total project expenses, applications in 2026 highlight inconsistencies and indicated a need for clarity with the program. Lovelace reviewed income guidelines and limits to be used in the program, including accessory units, duplexes, and (review at 7:20pm). Lovelace reviewed loan thresholds, eligible costs, and exemptions. HRA and staff reviewed AMI percentages, actual versus aggregate, HUD chart and clarified how program numbers are calculated. ## Motion: Hayford Oleary/Supple Supple appreciated further discussion of funding incentives. Hayford Oleary noted clarity of program for applicants and also for staff. Motion carries: 5:0 12. ## Executive Director’s Report Poehlman shared an update on the Richfield Resiliency and noted applications have been reviewed with eligibility determined out of 46, 24 were fraudulent, with 12 ineligible, and 10 were eligible applicants. Next stage will be closing with businesses in person with businesses, awards totaled approximately $60,000 and within the $150,000 limit set forth by the EDA. Supple shared appreciation for small businesses and the program. Staff and EDA discussed future of program, and noted the program is a one-time need based program. Will begin focusing on Revive Program - businesses with older buildings remodel their existing business space. 13. ## EDA Discussion Items a. Continuation of Consideration of Transformation Home Loan Guideline Revisions. 14. ## Approval of Claims Young/Supple to approve claims. Motion carries: 5:0 15. ## Adjournment Adjourned at 7:29pm.