Title
Approval of the March 14, 2012 HRA meeting minutes.
Body
ROLL CALL
Present: Commissioners Bostrom, Carter, Lantry, Tolbert
Excused: Commissioners Brendmoen, Stark, Thune
CONSENT
1. Approval of the February 22, 2011 HRA meeting minutes.
Commissioner Lantry moved approval.
VOTE: Yeas - 4 Nays - 0
2. Resolution Authorizing Acquisition of Tax Forfeited Properties; Dayton’s Bluff District 4; Payne Phalen District 5 under the ISP/NSP Rebuilding Work Plan 2009-2013
Commissioner Lantry moved approval. Approved as set forth in resolution RES 12-511
VOTE: Yeas - 4 Nays - 0
PUBLIC HEARING
3. Resolution Authorizing Entering into a Development Agreement, Obligating NSP Funds and Approving Sale and Conveyance of Land to BB Housing Associates, LLC for Properties Located within ISP/NSP Neighborhoods Identified as:
1. Parcel 991 Wakefield Street, Dayton’s Bluff District 4
2. Parcel 991-993 Hudson Road, Dayton’s Bluff District 4
3. Parcel 686 Bradley Street, Payne-Phalen District 5
4. Parcel 854-856 Burr Street, Payne-Phalen District 5
5. Parcel 982 Burr Street, Payne Phalen District 5
Ms. Cecile Bedor, Executive Director for the HRA, stated that the HRA has received approximately $30 million in NSPI, NSPII, and NSPIII funding to buy, renovate, and sell or lease residential properties. Ms. Bedor noted that NSP regulations require that 25% of the total NSP funds must be spent on housing units that will serve families at or below 50% of the area median. BB Housing has been one of our partners in meeting the 50% requirement; they’ve done excellent work that has been very well received in the community.
Ms. Bedor explained that the proposal is to sell these properties to BB Housing and provide subsidy to ensure affordability. She noted that the development agreement will have repayment provisions.
Loren Brueggemann from BB Housing was present at the meeting.
Chair Bostrom announced the public hearing, there being no testimony Commissioner Lantry...
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