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Regular City Council Meeting Monday, October 08, 2012 Page 12 demolition/rehabilitation (Item 4.b on the Action Plan) would only be utilized if and when such opportunities came forward, and that they would not be ongoing. Ms. Kelsey concurred, noting that funds were designated for acquisition and demolition; however, the line item on the Action Plan were income-restricted funds; and the goal of such a program was designed to allow the marketplace to bring up the overall value of a neighborhood. Ms. Kelsey advised that such a program had been used in the past by the City for code enforcement properties, with negotiations with owners to sell those properties. At the request of Mayor Roe, Ms. Kelsey reviewed criteria for such a program, using a previous example of a single-family home on a single lot on Rice Street near County Road C available, but since no funds were in place the HRA had been prevented from taking advantage of the opportunity presented, even though other redevelopment activity was occurring in that area. Chair Maschka noted that, since this was a missed opportunity, the property would continue to deteriorate and degrade that area of the community. Member Lee also concurred, noting that the property was no longer on the mar- ket and was now a rental property; advising that such a situation had spurred this program by the HRA. Mayor Roe recognized the HRA's determination to build a fund balance to ad- dress future similar situations, suggesting that it could be realigned with the levy as appropriate. Reiterating her original statement, Councilmember McGehee advised that she was not opposed to the HRA bringing these proposals forward, suggesting they be addressed on an urgency basis with the City Council. As an example, Coun- cilmember McGehee noted a request several years ago from a condominium as- sociation seeking a loan for necessary repairs, a very desirable site for use of such a program, since this represented a former apartment complex converted to condominium units. Councilmember McGehee noted her observation that the tenants/owners included young couples who had purchased units as first-time homebuyers unaware of the calamity about to befall them. While being sup- portive of the HRA's efforts, Councilmember McGehee noted her need to bal- ance public money requests, and asked that the HRA cooperate in recognizing the many needs of those public monies. Mayor Roe suggested that the HRA revisit their Action Plan as part of their 2013 budget request. Councilmember McGehee was amenable to that at this time.