08-02-2021 HRA MIN SPECIALSpecial Meeting of the Elk River
Housing and Redevelopment Authority
Held at the Elk River City Hall
Monday, August 2, 2021
Members Present: Chair Larry Toth, Commissioners Denny Chuba, Jayme Swenson, and
Jennifer Wagner
Members Absent: Commissioner Nate Ovall
Staff Present: Economic Development Director Brent O'Neil, Economic Development
Specialist Colleen Eddy, City Administrator Cal Portner, and Recording
Secretary Jennifer Green
I . Call Meeting to Order
Pursuant to due call and notice thereof, the meeting of the Elk River Housing and
Redevelopment Authority was called to order at 4:30 p.m. by Chair Toth.
2. HRA 2022 Budget and Budget Goals
Mr. O'Neil presented the staff report and explained the budget performance measures and
goals. Mr. O'Neil then reviewed the draft budget. He stated he has worked with the finance
director to prepare a budget similar to 2021 but some accounting method changes were
made to the loan program. He noted the timeline of September 6 for the HRA to approve
the budget and receiving a Council recommendation at the same meeting for inclusion in the
preliminary levy.
Mr. O'Neil explained the HRA fund balances and asked the HRA to strategically consider
what is the best position to be in to have a low enough fund balance to be responsible, but
high enough to allow for response to any planned or unplanned property acquisitions.
The commission discussed increasing the marketing opportunities of the HRA loan
programs and ways of assertively promoting funding opportunities to residents and
businesses alike. Options discussed to explain and market available funds were direct mail,
social media, advertisements, forums and open houses, website could use improvements and
Google ads, and networking outreach to local business groups, like the Chamber of
Commerce and local builders and developers.
The HRA discussed increasing the rehabilitation loan program loan cap and decreasing the
interest rate to provide more funding opportunities for the HRA dollars. Commissioners
discussed the current cost of renovation is very high and wondered if now was the right time
to modify the program to match the current economy. They also discussed the performance
Housing and Redevelopment Minutes
August 2, 2021
Page 2
measure of the number of applications being a true measurable objective, or should it be
modified to measure something else such as an annual dollar amount for the building
permits pulled on rehab loan projects as a way to measure the amount invested by the
community in property upkeep.
It was the consensus of the HRA to proceed with this budget while considering additional
ways to utilize the advertising and marketing dollars in the 2022 budget. The HRA will also
review the rehabilitation loan program later this fall and consider modifying some of the
terms while zeroing in on what they would like to accomplish with the funds. Suggested
goals discussed were increasing housing stock, improving blighted properties, and creating
energy efficient homes.
3. Adjournment
Chair Toth adjourned the meeting at 5:36 p.m.
Minutes prepared by Jennifer Green.
----7 Y
Tina Allard, City Clerk
it Toch :Bair
Housing & Redevelopment Authority