2008-11-18_Agenda - Laserfiche WebLink

Home

7. Public Hearing None. 8. Action/Discussion Items: a. Discuss HRA Bonding Authority Mary Ippel of Briggs and Morgan, the City's Bond Consul, discussed the Roseville Housing and Redevelopment Authority's ability to bond for projects. Ms. Ippel noted that the RHRA has limited ability to issue general obligation bonds for qualified housing development projects; however, it has greater legal authority to issue revenue bonds which are typically more difficult to market. Ms. Ippel also noted that a project would have to meet strict criteria for the RHRA to be able to issue tax-exempt bonds. Ms. Ippel noted that the RHRA has the ability to levy up to .144% of taxable market value and that levy can be pledged to the payment of a revenue bond. Ms. Ippel also noted that the City of Roseville has a Port Authority which can issue general obligation bonds. Ms. Ippel noted that the City Council could create a Housing Improvement District or Special Service District as another way to finance improvements and that the bonds issued for these types of projects would be taxable, general obligation bonds. Ms. Ippel also discussed the authority of the City (not the RHRA) to issue general obligation bonds in a Tax Increment Finance district. b. Neighborhood Enhancement Update Don Munson, Code Enforcement Official, and Brian Coughlin, seasonal Land Use Inspector, presented an update on the Neighborhood Enhancement Program (NEP) which is funded by the RHRA. Mr. Munson noted that resident comments have been overwhelmingly positive in support of the program and compliance rates were very high, close to 90% after 40 days. Mr. Trudgeon noted that the number of violations decreased with each successive neighborhood targeted by the program. Mr. Trudgeon opined that the educational aspect of the program seemed to be successful in this regard. Mr. Trudgeon noted that the NEP is included in the 2009 HRA budget. 9. Information Reports & Other Business (Verbal Reports by Staff and Board Members): a. Staff Reports Ms. Kelsey reminded the board of the upcoming energy efficiency workshop to be held on September 20. Ms. Kelsey presented the board with an update on the Home & Garden Fair planning process. Ms. Kelsey presented the board with the new fair logo, marketing materials and website updates. b. Board Reports Mr. Trudgeon noted that the City Council will be interviewing RHRA applicants at their September 22 meeting. Mr. Trudgeon indicated that the Westwood Village I Housing Improvement Area will be going before the Council at that meeting, also. Chair Majerus noted that this was the last meeting for Member Millasovich as her term ends this month. Member Millasovich expressed her pride in her community and thanked the board for the experience of serving with them. 10. Adjourn The meeting was adjourned at 7:01 p.m.