Laserfiche WebLink
HRA’s goals and objectives. He would like to make sure that there are no other private options <br />but that if this is the only option, it would be a good tool to use and fund. <br />Member Masche noted that as other funding options become available banks will begin funding <br />these projects as more and more will be getting to the age of deterioration. He could confirm that <br />older complexes did not have the legal right to put adequate funding away for these future <br />purposes. <br />Member Kelsey would like to first evaluate the full budget for the project and see a more <br />complete analysis prior to making a recommendation. <br />Chair Majerus noted that the City Council is looking for some direction on this request from the <br />HRA. <br />Motion <br />: Member Maschka motioned, seconded by Member Kelsey, to support the <br />concept of using a Housing Improvement Area for Westwood Village I if it can be <br />proven that no other private or public private partnership funding option can be provided <br />. <br />in an affordable manner <br />Ayes: 6 <br />Nays: 0 <br />Motion carried. <br />c.Consider Policy on Reimbursement of Program and Development Fees <br />(HF0054) <br />Executive Director Bennett provided a summary of information collected regarding <br />reimbursement of program and development fees and reviewed the possibility of using a <br />development agreement to proceed with financial review associated with development projects in <br />the future. <br />Community Development Director Stark noted that in his experience each project is reviewed on <br />a case by case basis with the understanding that if the project is worth exploring and has met a <br />certain threshold that the private developer pays for outside consulting to review financial and <br />legal fees. <br />Member Maschka asked for clarification on the threshold. Mr. Stark noted that the threshold <br />usually is when the developer wants exclusivity in working with the city on the property. <br />Member Kelsey wondered how this works when the developer already owns the site and the city <br />has no property rights. She noted that some property owners feel that since they pay property <br />taxes they are already paying for this review. (Each case should be reviewed based upon its <br />merits). <br />Member Pust wondered if the agreement should also include reimbursement for staff time. <br />Mr. Stark noted that many communities do require all internal and external costs covered by the <br />developer but it will need to be evaluated based upon what the public purpose is and how much <br />the HRA and/or City wants the property improved. <br />4 <br /> <br />