Title
Approval of the July 25, 2012 HRA meeting minutes.
Body
ROLL CALL
Present: Commissioners Bostrom, Brendmoen, Carter, Lantry, Stark, Thune
Excused: Commissioner Tolbert
CONSENT
1. Approval of the July 11, 2012 HRA meeting minutes.
Commissioner Lantry moved approval.
VOTE: Yeas - 6 Nays - 0
DISCUSSION
2. Approval to Allocate $56,408 of Community Development Block Grant Funds to Lake Energy Investment, Inc. for Rolling Hills Apartments, 1336 Westminster Street, and Budget Amendment, District 5, Ward 5.
Ms. Cecile Bedor, Executive Director for the HRA stated that this is a 108-unit, six building, 100% affordable housing project. While the entire project is in need of renovation, the project needs funding now for an emergency loan to repair the roof on one of the six buildings.
Ms. Bedor explained that Rolling Hills is now assembling financing to renovate the entire project, and staff anticipates returning to the Board with more specifics at a later date.
Commissioner Brendmoen moved approval. Approved as set forth in resolution RES 12-1463.
VOTE: Yeas - 6 Nays - 0
ADJOURNMENT
Commissioner Lantry moved adjournment. The HRA meeting was adjourned.