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HomeMy WebLinkAboutHousing & Redevelopment Authority - Minutes - 09/19/2023HOUSING AND REDEVELOPMENT AUTHORITY OTTERTAIL COUNTY • MINNESOTA The Otter Tail County HRA Board of Commissioners Met for a regular meeting on September 19, 2023 at 11 :45am At the Otter Tail County Government Services Center Board Members Present: Kurt Mortenson Betty Murphy Leland Rogness, Vice Chairperson 500 W Fir Ave, Fergus Falls, MN Absent: Wayne Johnson, Chairperson and Jeff Ackerson Others Present: Barbara Dacy, OTC HRA Executive Director Paula Grunewald, OTC HRA Administrative Assistant Tanya Westra, OTC HRA Project Manager Julie Bakken, OTC HRA Accounting Specialist Amy Baldwin, OTC CDA Director 1. CALL TO ORDER Chairperson Johnson called the meeting to order at 11 :47 am. 2. APPROVAL OF AGENDA Government Services Center 500 West Fir Avenue Fergus Falls. MN 56537 Motion made by Betty Murphy, second by Kurt Mortenson to approve the September 19, 2023 Agenda with no changes needed. Motion passed unanimously. 3. APPROVAL OF CONSENT AGENDA ITEMS Motion made by Kurt Mortenson, second by Betty Murphy to approve the Consent Agenda. Motion passed unanimously. 4. NEW BUSINESS Resolution 251 Adopting Revenue Cycle Cash Management and Program Funding Policy Barbara Dacy, Otter Tail County HRA Executive Director described the "Revenue Cycle Cash Management and Program Funding" policy. She stated that there are two important aspects for cash management, primarily regarding the use of federal funds: 1) Funds cannot be transferred between Public Housing and Section 8; and 2) transfers from the General Revolving fund to the federal programs is not permitted unless specifically authorized by the program. She stated that the policy also includes monthly monitoring to determine if funds should be invested. Motion made by Kurt Mortenson, second by Betty Murphy to approve. Motion passed unanimously. 5. Discussion A. North Fields of Dalton Update Director Dacy stated that JBC Construction & Ohren Electric had submitted their estimates totaling $2,036,000 for the two triplexes in the North Fields of Dalton development. She stated that originally the construction budget was estimated at $1 ,500,000, including a contingency. Dacy stated that there would be no action taken today and staff 218·998·8730 ® OTTER TAIL COUNTY IS AN EQUAL OPPORTUNITY EMPLOYER @ ottertailcounty.gov LIVE YOUR be.\f life HERE. r--~-----~ will identify potential options for the future, including, but not limited to, including the development in a potential 2024 Housing Infrastructure Bond Application with other proposed triplexes. Ms. Westra stated that a letter will be mailed to the people on the waiting list. B. Statewide Local Housing Aid (SAHA) Director Dacy stated that SAHA will be distributed to Minnesota's 87 counties, Tier 1 cities in Greater Minnesota (populations over 10,000), and tribal governments. She stated that this aid must be spent within four years on ·qualifying projects", which include homeownership developments serving households with 115% AMI and rental developments serving households with 80% AMI. She stated that qualifying projects also include production, preservation, acquisition/rehabilitation, emergency rent assistance, gap financing, demolition, etc. She stated that these allocations are in recognition of the lack of financial resources in the past and intended to add to existing resources. She stated that Otter Tail County will receive $143,671 in December 2023 and then the same amount again in 2024. She stated that the County Board will approve the use of these funds and must report annually to state. She suggested that HRA discuss potential options at the October meeting and then transmit to the County Board for discussion. 6. EXECUTIVE DIRECTOR REPORT Director Dacy reported the following: • • • • If the North Fields of Dalton development moves ahead in the future, she recommends that the HRA form a sole member Limited Liability Company (LLC) to limit liability to the assets of the development itself. She also stated that as a LLC, the project is eligible for the Otter Tail County Housing Trust Fund. Because the Otter Tail County HRA acts as the administrator of the Housing Trust Fund, she recommends that the County Board adopt a resolution to "consent" to the allocation. Local lenders have issued 5 ·start Up" (first time homebuyer) mortgages and 5 ·step Up" mortgages issued to repeat homebuyers under the Minnesota Cities Participation Program. The State Tax Credit Program is a new program where Minnesota taxpayers can receive an income tax credit for making contributions to eligible affordable housing developments. She stated that the state income tax liability can be reduced $.85 on each $1 .00. Mitch Harry has been hired to be the new Project Manager . 7. GENERAL DISCUSSION -TOPICS BY COMMISSIONERS Director Dacy let the commissioners know that on September 27 there's a session on "The Role of the Commissioner in Performance Management" from 11 :30-1 :00 pm. 8. ADJOURNMENT At 12:40 p.m. a motion was unanimously carried to adjourn the meeting. Kurt Mortenson/Secretary/Clerk Pg.2