EDA Agenda 11-14-2018 (Workshop Meeting) (2)AGENDA
WORKSHOP MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, November 14th, 2018 — 5:30 p.m.
Mississippi Room, Monticello Community Center
Commissioners: President Steve Johnson, Vice President Bill Tapper, Treasurer Jon
Morphew Tracy Hinz, 011ie Koropchak-White and Council members Lloyd
Hilgart and Jim Davidson
Staff: Jeff O'Neill, Angela Schumann, EDA Executive Director Jim Thares, Jacob
Thunander, Wayne Oberg
1. Call to Order
2. Roll Call
3. Discussion — Housing Programs
4. CMHP Involvement
5. Federal Low -Income Housing Tax Credit (LIHTC) Program; CMHP Interest; Potential
Sites
6. Other
7. Adj ournment
Housing Programs Discussion
1. Update/Summarize current CMHP contract results
a. Windshield survey yields positive feedback on quantity and quality of homes for a rehab
program
b. Mapping to show additional target areas
2. Decision/Direction items:
a. Rehabilitation Program
i. City is eligible for CDBG
1. Grant can be prepared by CMHP — fee
2. Grant covers exterior envelope and HVAC/energy items
3. Requires income qualification
4. CMHP administers grant award for fee of 15% of award
S. Application interest by August 2019
6. City match gives application more points
ii. City may want to supplement CDBG program with its own
1. Can cover more usability and aesthetic items
2. Viewed as positive in CDBG app (may give more points)
b. Redevelopment Program
i. CMHP very interested partner
1. 36 units
ii. Two sites
1. Need direction on use preferred
2. Need direction on whether to pursue project with CMHP as partner
iii. Applications due June 2019 for tax credits
c. Resource info:
https://mn.gov/deed/government/financial-assistance/community-funding/
https://en.wikipedia.org/wiki/Low-Income Housing Tax Credit
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