Laserfiche WebLink
REDA Meeting <br /> Minutes—Tuesday,April 18,2017 <br /> Page 13 <br /> and whether or not a storm shelter was available and accessible for one with <br /> disabilities. <br /> Applicant Blake Huffman,Journey Home MN <br /> Mr. Huffman noted that the proposed detached garage access had caught his <br /> attention as well; and advised that he would discuss it further with REDA staff <br /> as the development agreement process continued. Specific to a shelter, Mr. <br /> Huffinan advised that an accessible safe room would be installed. <br /> Member Etten expressed appreciation for and agreement with the overall <br /> proposal. Member Etten asked for more detail on the $115,000 financing <br /> piece. <br /> Mr. Huffinan advised that the mortgage would initially be first and intended to <br /> facilitate ongoing work with the veteran and family to seek private financing <br /> and encourage home ownership that would ultimately determine the city's <br /> mortgage interest. <br /> Ms. Kelsey clarified that with the considerable amount of sweat equity in the <br /> home for potential long-term homeowners, the intent was to ensure that the <br /> participants didn't turn around and make money on the home, making it no <br /> longer considered affordable and walking away with Journey Home MN's <br /> equity. With the REDA remaining in a second mortgage position, Ms. Kelsey <br /> advised that the intent and opportunity was that the REDA regained their <br /> original investment of $115,000 at the sale and Journey Home MN would <br /> regain their initial investment as well. <br /> President Roe opened and closed the public hearing at approximately 8:06 <br /> p.m., with no one appearing for or against. <br /> Willmus moved, Etten seconded, adoption of REDA Resolution No. 6 <br /> (Attachment D) entitled, "Resolution Authorizing Negotiation of a <br /> Purchase and Redevelopment Contract between the REDA and Journey <br /> Home USA, and the Conveyance of Land in Connection with the <br /> Contract;" and approval of an application (Attachment B) from Journey <br /> Home MN, for sale of 196 S for construction of a single-family home on <br /> the site. <br /> Ayes: 5 <br /> Nays: 0 <br /> Motion carried. <br /> d. Consider Contract Options for Housing Loan Program Services and <br /> Construction Consulting Services <br /> Housing & Economic Development Program Manager Jeanne Kelsey noted <br /> that at the last REDA meeting, staff was directed to hold subsequent <br />