Title
Approving the January 8, 2020 HRA Board meeting minutes
Body
SWEARING IN OF NELSIE YANG
ROLL CALL
Present 7 - Commissioners Brendmoen, Jalali, Noecker, Prince, Thao, Yang and Chair Tolbert
ORGANIZATIONAL MEETING
1. Electing the officers of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota
Moved by Commissioner Noecker, Resolution Adopted and set forth in RES 20-109
VOTE: Yeas - 7 Nays - 0
FOR DISCUSSION
2. Resolution authorizing acceptance of a grant from the United States Department of Housing and Urban Development (“HUD”) as a subgrantee of the Minnesota Home Ownership Center (“MNHOC”) for funding of administrative costs for counselors for the Mortgage Foreclosure Prevention Program, Citywide
Kristin Guild, Interim Executive Director, stated this is a $10,000 grant from HUD that flows through the Minnesota Home Ownership Center. It provides support for our foreclosure prevention counseling services and defrays some of our staff costs.
Commissioner Brendmoen thanked Michelle Vojacek and Jen Bruntlett for their work providing foreclosure counseling services.
Moved by Commissioner Brendmoen, Resolution Adopted and set forth in RES 20-59
VOTE: Yeas - 7 Nays - 0
3. Resolution approving issuance of a $49,500 loan under the Strategic Investment Fund program to Emmons & Olivier Resources, Inc. for 1919 University Ave, District 12, Ward 4
Ms. Guild stated that Emmons & Olivier Resources is a water resources firm that is relocating to Saint Paul from Oakdale, bringing 30 jobs to start and projecting at least three more. This will be a 5-year loan at a 5.75% interest rate. The loan will be forgiven if EOR maintains at least 33 jobs in Saint Paul over the course of the 5-year term of the loan.
Commissioner Jalali asked for more information on SIF loan program requirements. Mary Rick, PED Principal Project Manager, shared information on the SIF scorecard and stated that the company is relocating their headquarters into Sain...
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