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continuing to search for a private lender that would be willing to make a loan to the association. Member Maschka opined that the private financing was not an adequate solution given the collateral issue. Member Pust noted that the City Council would need to be certain that private financing was not an option before backing a loan (even a low-risk loan such as this). Ms. Bennett indicated that the private market terms are very unfavorable and thus preclude homeowners in the association from undertaking the improvements. Member Maschka wondered if the City Council would be taking on much risk by using its taxing authority to create collateral in this instance. He also wondered if HIA funds might be used for apartment rehabilitation as well. Ms. Bennett noted that special service districts have been created in the past to perform public types of improvements on private property which are repaid over time through taxation. She pointed out the strip mall at Lexington Ave. and Larpenteur Ave. as an example of this type of funding. Member Maschka noted that the homeowner’s obligation for the assessment would be paid once the unit is sold, further reducing the city’s risk. c.Update on HRA Staffing Interim Community Development Director Michael Darrow provided an update on the status of HRA staffing noting that he has discussed options with the City Manager to determine a course of action. Chair Majerus expressed his desire to make a permanent hire as soon as possible. d.Board & Staff Reports Ms. Bennett provided a copy of Resolution No. 10541 passed by the City Council at their August 13, 2007 meeting which clarifies the HRA board appointment process, in keeping with the limitations of statutes which govern HRA procedures. Member Pust added that the City Council undertook this endeavor to create an appointment process which would provide greater consistency among all of the city’s commissions. Ms. Bennett also pointed out the annual report from the Greater Metropolitan Housing Corporation (GMHC) that she provided to the board. GMHC manages the HousingResource Center which administers many of the housing programs offered by the HRA. Adjournment The meeting was adjourned at 8:32 p.m. Next Regular Meeting: September 18 2007, City Council Chambers at 7:00 p.m.