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HomeMy WebLinkAboutHousing & Redevelopment Authority Minutes 05-27-2009APPROVED MINUTES PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY May 27, 2009 PRESENT: Chairman Jeff Kulaszewicz (arrived at 7:15 p.m.), Commissioners Steve Ludovissie, Bob Stein, Paul Caryotakis, and David Miller STAFF PRESENT: Housing Program Manager Jim Barnes, HRA Specialist Patty Schaffer and Office Support Representative Chele Kovacevick OTHERS PRESENT: Grace Management Representative Jody Boedigheimer 1. CALL TO ORDER Commissioner Caryotakis called the Plymouth Housing and Redevelopment Authority meeting to order at 7:07 P.M. Commissioner Caryotakis presided due to the initial absence of Chairman Kulaszewicz. Housing Program Manager Barnes added item 3 C to the agenda- City Council action of May 26, 2009 regarding the Community Development Block Grant (CDBG). Commissioner Ludovissie asked that the minutes from April 23, 2009 be withdrawn from the consent agenda and reviewed to more accurately reflect his comments relative to Section 4A, paragraphs three and four. MOTION by Commissioner Ludovissie, seconded by Commissioner Stein to remove the minutes from the consent agenda. Vote. 4 Ayes. MOTION approved unanimously. 2. CONSENT AGENDA A. Approve HRA Meeting Minutes from April 23, 2009. Removed from the consent agenda and added as item 3D under New Business. B. Plymouth Towne Square. Accept monthly housing reports. C. Vicksburg Crossing. Accept monthly housing reports. MOTION by Chairman Kulaszewicz, seconded by Commissioner Caryotakis to approve the consent agenda as amended. Vote. 4 Ayes. MOTION approved unanimously. Approved Plymouth Housing and Redevelopment Authority May 27, 2009 Page 2 3. NEW BUSINESS A. Vicksburg Crossing. Marketing Report. Grace Management Representative Jody Boedigheimer presented the Vicksburg Crossing marketing report which reflected an occupancy rate of 90%. Grace Management Representative Jody Boedigheimer stated that their office is currently developing ideas for summer events including National Night Out, Music in Plymouth and the City Sampler events. Housing Program Manager Barnes noted the arrival of Chairman Kulaszewicz and stated that since Commissioner Caryotakis opened the meeting in Chairman Kulaszewicz's absence, that Commissioner Caryotakis will continue to conduct the meeting. Grace Management Representative Boedigheimer stated that the residents are very appreciative for the exterior railings which were added at the property. Commissioner Ludovissie remarked that an ongoing marketing presence is important to sustain the visibility of the property even as full occupancy is approached. Grace Management Representative Boedigheimer said that a 34% attrition rate per year is not unusual for the senior population with their ever changing health needs. Commissioner Ludovissie asked if site visits are going to be conducted at both properties this year and remarked that it is a good opportunity to tour the buildings. Housing Program Manager Barnes will check the calendar and advise board members of the dates to visit the sites. B. Revisions to the First Time Homebuyer and Rehabilitation Loan Program Guidelines. HRA Specialist Schaffer presented the revisions to the FTHB and Rehab Loan programs. Commissioner Kulaszewicz asked if we have information on any other housing authority programs. According to HRA Specialist Schaffer, the City of Plymouth has provided their program information upon request to the City of Minnetonka. She also said that the City of Plymouth has positioned their program parameters midway between the State and the Minnesota Housing Finance Authority (MHFA) standards. Commissioner Miller asked if there is a minimum loan to value ratio specified in the program. Housing Program Manager Barnes responded that there has not been a need for such a requirement. Commissioner Caryotakis stated that there is a maximum asset amount stated in the guidelines although it is referred to as both "a maximum asset" and "a gross asset". Housing Program Manager Barnes stated that is a terminology issue and that will be corrected. Approved Plymouth Housing and Redevelopment Authority May 27, 2009 Page 3 Housing Program Manager Barnes asked if there were any further questions. Commissioner Stein asked about the Executive Director's discretion to waive equity requirements in the Rehab Loan program as noted on page 31. Housing Program Manager Barnes explained it as a tool in this market to enable homeowners who are upside down in their home equity who need help in maintaining their property. The City attorneys are helping the HRA achieve a policy to administer that waiver uniformly. Commissioner Miller asked if staff is exploring adding subordination language as well. According to Housing Program Manager Barnes staff is not exploring that issue at this time although it could be addressed in the guidelines specifically in regard to federally funded loan programs. Commissioner Stein asked if there have been many loan defaults as a result of foreclosures. HRA Specialist Schaffer responded there have been three foreclosures over the past three years, none in the past six months. Commissioner Caryotakis asked if in the event of a short sale, would we waive or reduce the amount of repayment due to accommodate the seller and to help preserve their credit. Housing Program Manager Barnes stated that we do have that flexibility, as well as the right to waive restrictive covenants in the case of a hardship circumstance. The family who approached the HRA with a request to waive some of the loan as well as the restrictive covenant has asked to address the board once again with their request. They will likely attend the June meeting. Staff will provide some ideas to the Board in June on possible approaches to future work-out cases. MOTION by Commissioner Caryotakis, seconded by Commissioner Ludovissie to approve the revisions to the First Time Home Buyer and Rehab Loan programs. Vote. 5 Ayes. MOTION approved unanimously. C. City Council action May 26, 2009 regarding the Community Development Block Grant (CDBG) Chairman Kulaszewicz asked if staff is aware of any other funds coming available to the HRA. According to Housing Program Manager Barnes the City Council adopted staff recommendations to split the roughly $70,000 in recovery money through the CDBG as follows: 25,000 to the FTHB Program, $40,000 to the Hammer Residence, and $5,000 to the administrative budget. Housing Program Manager Barnes relayed that the census tract which would qualify for the second round of NSP funds is in the northwest quadrant of the city and there are very few homes in that area and it is unlikely that the HRA will see any benefit from that fund. There are some funding opportunities outside of the HRA realm that may come to the City. Other City departments are working on the application at this time. D. Approve HRA Meeting Minutes from April 23, 2009. Approved Plymouth Housing and Redevelopment Authority May 27, 2009 Page 4 Commissioner Ludovissie asked that the minutes from April 23, 2009 be tabled and reviewed by staff for adoption at the June meeting. MOTION by Commissioner Ludovissie, seconded by Commissioner Stein to table the minutes. Vote. 5 Ayes. MOTION approved unanimously. 4. ADJOURNMENT MOTION by Commissioner Caryotakis to adjourn. Vote. 5 Ayes. MOTION approved unanimously. The meeting was adjourned at 8:05 p.m.