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REDA Meeting Minutes—Tuesday,April 18,2017 Page 14 discussions with the Housing Resource Center (HRC) to define their financial status moving forward and ongoing interest at the Greater Minnesota Housing Corporation (GMHC). As part of that REDA direction, Ms. Kelsey noted that staff was tasked with coming up with alternate options to identify other loan originators already existing in the area. At this time, Ms. Kelsey reported that staff had identified only three as detailed in the staff report. Ms. Kelsey advised that the request before the REDA at this time would maintain loan program and construction advisory services, as offered by the GMHC through the second quarter of 2017; and direct staff to negotiate a contract with the Center for Energy and Environment (CEE). Ms. Kelsey opined that the other loan programs offered by the CEE and as detailed in the staff report (Attachment A) may prove a better fit for the REDA's energy improvements for businesses and related advisory services for energy improvements at those businesses. Ms. Kelsey advised that staff was seeking direction from the REDA; and didn't want to proceed with any further negotiations without that direction. If so directed, Ms. Kelsey advised that staff would provide a contract to the REDA at a future meeting for their consideration and whether or not to continue the current contract with the GMHC over the next quarter. Ms. Kelsey noted that there were many complications, but with changes made in 2014, it had allowed the city to target market those homes meeting value or less and allowing for reinvestment in them and for the REDA to make funds available to assist them in accomplishing those improvements. As of year-end 2016, Ms. Kelsey reported on nine such loan applications closed, with the specifics of each. At the request of Member McGehee, Ms. Kelsey reviewed the fees involved in a loan from the CEE, especially after its merger with the former Neighborhood Energy Connection (NEC). Ms. Kelsey advised that staff could seek further negotiations if so directed. Member McGehee stated that she just wanted to make sure she understood, opining that it was an important program and provided resources for someone to talk to. Member McGehee stated that she wasn't interested in discontinuing the service, and stated appreciation that the new agreement provided opportunities for the business as well as housing components. Even if the REDA decided not to utilize the services of CEE, Ms. Kelsey advised that the REDA could still advise businesses of the services offered by the CEE. If the HRC may perchance not operate over the next quarter, Ms. Kelsey noted that the CEE may be required to provide additional services to those it currently provided and serve as agents. However, at this point, Ms. Kelsey advised that the proposed agreement guaranteed that the CEE would work with the REDA prior to any potential future situation with the HRC and their potentially increased client loan commitments.