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HRA Meeting Minutes – Tuesday, October 21, 2014 Page 5 1 them at an affordable price, and spend additional monies to convert them to a more open floor 2 plan, making them more amenable to today’s lifestyles. 3 4 Mr. Bilotta noted that, from the HRA’s perspective, was this something they could move along 5 or help to happen. 6 7 Member Masche noted areas of potential blight on the map that were of concern to him. 8 9 Mr. Bilotta concurred that there were areas to watch, and pointed out one that Ms. Kelsey had 10 mentioned before, that of the James Addition (directly north of Rosedale and south of the 11 Byerly’s strip mall). Mr. Bilotta noted that, while there was some investment going on on the 12 west side, homes backing up to retail may not provide the most pleasant environment, which 13 may be attributable to this area. Mr. Bilotta clarified that they were not in terrible shape, but 14 the area may be one for the HRA to look at to determine if something was going on or if it was 15 simply an access issue. 16 17 Ms. Kelsey noted that the James Addition was also the hardest hit area in Roseville during the 18 recent foreclosure crisis; but it may also prove to be an opportunity for first-time homebuyers 19 with the smaller homes and favorable lending. 20 21 Mr. Bilotta further noted that it was evident that, in places with neighborhood parks, they 22 served to add value and stability to those homes. 23 24 At the request of Chair Maschka, Mr. Bilotta offered to provide subsequent information 25 overlaying improvements based on building permits issued, showing where investment was 26 happening in the current marketplace, based on affordable housing options available in 27 Roseville and allowing for additional investments to be made in those homes. 28 29 Mr. Bilotta concurred with the HRA’s observations that the overall market in general was 30 seeing a lot of movement at the core, but that the millennial generation was not looking to 31 move too far, with Roseville serving as the outer edge based on its proximity to both 32 downtowns. When the BRT was provided, Mr. Bilotta opined that it would serve that 33 generation even more, since they were a very transit-friendly generation, not just financially, 34 but as a way of life; and as the Central Corridor development and other areas continued to 35 develop, it would make Roseville even more attractive to that younger population. Mr. Bilotta 36 noted that the City of Roseville offered a great number of the amenities being sought, 37 including offering a stable community. However, Mr. Bilotta noted that the City also had an 38 older population, allowing housing stock that may fall into the lower purchase price and allow 39 for upgrading as well; and also noted that housing stock built in the 1950’s and 1960’s was 40 built sturdier than more recent stock. 41 42 Chair Maschka thanked Mr. Bilotta for his presentation and comments. 43 44 9.Action/Discussion Items 45 46 a.Roseville Loan Program 47 Ms. Kelsey reviewed the history of the Roseville Home Improvement Loan Program (HF0065) 48 as detailed in the staff report dated October 21, 2014. Ms. Kelsey noted the combination of the 49 Revolving Loan Program and the Family Home Ownership Rehab Loan in 2008, including 50 loan balances at that time, had created the Roseville Home Improvement Loan Program. Ms, 51 Kelsey reviewed the programs prior to the inception of the HRA and the status of the loans as 52 the HRC exhibit and status report from January 1, 2000 through September 30, 2014; 53 indicating activity from 2008 to now was steadily going down. Ms. Kelsey referenced the 54 specific project descriptions, loans and specific Roseville addresses participation in the 55 Roseville Home Improvement Loan Program from May 1, 2008 through September 30, 2014.