Title
Approving the October 24, 2018 HRA Board meeting minutes
Body
The HRA will recess and reconvene after todays City Council meeting to consider RES PH 18-328.
ROLL CALL
Present 7 - Commissioners Bostrom, Brendmoen, Jalali Nelson, Noecker, Prince, Thao and Chair Tolbert
CONSENT AGENDA
1. Approving the October 10, 2018 HRA Board meeting minutes
Adopted as set forth in MIN 18-34
Moved by Commissioner Noecker, Consent Agenda is Adopted
VOTE: Yeas - 7 Nays - 0
FOR DISCUSSION
2. Reservation of year 2019 Low Income Housing Tax Credits for PPL Ain Dah Yung Supportive Housing, Saint Paul Preservation Project and North West University Dale, Districts 2, 3, 6 and 7, Wards 1, 2, 5 and 6 (Laid over from the October 10, 2018 HRA Board meeting)
Dr. Bruce Corrie, HRA Executive Director, presented an amended resolution and stated that during the May 2018 HRA meeting the HRA established criteria for selecting projects for the 9% tax credit and in August 2018, four applications were received. They were scored and ranked according to these points; the Ain Dah Yung project received 45 points, the Saint Paul Preservation project received 31 points, North West University Dale received 29 points and the Parkway project received 27 points.
The criteria states that if two projects are within two points of each other, the projects shall be deemed substantially equivalent and the HRA Board will select the project that best meets the City’s housing priorities. Based on financials and documents, staff recommends the Ain Dah Yung and Saint Paul Preservation project be completely funded. Dr. Corrie recommended two other projects for funding: North West University Dale and Parkway Apartments projects.
Commissioner Bostrom made a motion to move the amended resolution.
Commissioner Noecker asked for clarification on which projects will be fully funded as a result of the amendment. Dr. Corrie stated it’s the Ain Dah Yung and Saint Paul Preservation projects. Commissioner Noecker as...
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