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HRA Fee Reimbursement - Page 2 of 2 <br />the developer. (Ultimately, TIF and Tax Abatement assistance is approved by the <br />City Council for all projects). <br />f. Project considered for assistance must meet one or more of the following: <br />i. Retain or create housing that will be made affordable to those at a range of <br />income levels below 120% of median income. <br />ii. Some level of long term affordability will be proposed. <br />iii. Improve and/or redevelop housing that is blighted and or functionally <br />obsolete. <br />iv. The project could not proceed as proposed without public assistance. <br /> <br />3.0 Suggested HRA Action: <br /> <br />3.1 Discuss policy options proposed above and review application and preliminary <br />development agreement. Modify and/or expand policy statements. <br /> <br />3.2 By motion , adopt policies (as amended) which require a process for review of <br />development assistance for housing projects and includes an application and preliminary <br />development agreement prior to incurring outside financial consulting fees. <br />