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City of Roseville - Housing & Redevelopment Authority Meeting Minutes for May 17, 2005Page 4 of 5 required criterion, an annual modification will account for normal and customary inflationary increases in value without additional improvements. Based upon an 8% increase, the assessed value limitation for 2005 would be $216,000. By changing this value maximum, approximately 1,300 additional homes would become eligible under the program. Member Kelsey asked that the RHRA Board annually review the county Assessor’s estimated market value as the first step in annual adjustments. Member Hermes suggested using press releases with the local paper. Motion: Member Kelsey moved, seconded by Member Scheunemann, to adopt the Roseville Housing Redesign Program modification for eligibility criteria #1 with an annual 8% inflationary increase. Ayes: 6 Nays: 0 Motion carried. Information, Reports and Other Business: 8. a) Update on Fund Request for 311 County Road B (HF28). Chair Majerus requested information from the staff. Cathy Bennett explained the RHRA supported the submission (building on our successes) of an MHFA consolidated request for proposals and supported the application of CBDG and Home Funds from Ramsey County in March 2005. Both of these applications were for acquisition funding relating to the property at 311 County Road B. The request for MHFA funding was not supported at this time due to the competitiveness of other applications and readiness of this project. Staff will review additional options and possibility of resubmission of funding in July. The request for county funding was favorably recommended by County staff and accepted by the County Board acting as the Ramsey County RHRA in the amount of $250,000. Ramsey County has been very pleased with the result of the Applewood Court project and is willing to work with the RHRA to help fund and facilitate more opportunities for first time buyer small lot homes. The RHRA also directed staff to conduct an appraisal of the property as well as hire a design firm to prepare three sketch plans for possible small lot single family homes on the site. Staff has been meeting with the property representative who is still interested in working with the RHRA on development and purchase options, including the possibility of a request for development proposals from prospective developers. Staff suggested follow-up: Continue to work with the County and MHFA on funding for the project; Review additional funding sources for the project with RHRA attorney; with approval of the property representative, prepare a request for proposal for review by the RHRA in June. If supportive, a RFP could be sent to prospective developers to partner with the RHRA on development of the site. Member Hermes asked if the proposal would include small lot single family homes (yes). Executive Director Bennett explained the potential for an RFP. The land topography is steep and will require correction. Member Hermes suggested staff request a “first right of refusal” or a “letter of intent” for a period of time to allow the RHRA to prepare proposals or RFPs. Staff will proceed with this direction. b) Discuss Applewood Pointe Senior Survey (HF29). Executive Director Bennett discussed the results of the RHRA Board approved senior survey which was taken by the Applewood Pointe residents to determine the effectiveness of senior linkage programs. o 50% moved from Roseville to Applewood o 87% moved from single family o 5% (two homeowners) worked with the senior housing regeneration program o 46% of the respondents sold homes between $200-250,000 o 35% young families moved into their homes o 28% single adults moved into their homes c) Discuss 2006 Budget Process (HF31). Executive Director provided a summary of the process for budget review and recommendation to the City Council by August 2005. http://archive.ci.roseville.mn.us/council/hra/minutes/2005/hram050215.htm3/12/2008