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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 HRA Meeting Minutes — Monday, October 20, 2009 Page 5 Mr. Trudgeon advised that Ms. Kelsey would present a draft HIA Policy (Attachment A) for preliminary comment by the HRA, and as another tool available for the HRA Mr. Trudgeon noted that the policy criteria, as detailed in the Request for HRA Acrion dated October 20, 2009, was based on the City's first experience using the HIA and the City Council's desire for future use. Mr. Trudgeon, by way of introducrion, advised that staff had formulated that experience, information from other ciries use of HIA's, best pracrices, and many of the specifics of the City of St. Louis Park based on their favorable experiences. Ms. Kelsey concurred tl�at a major amount of the criteria in the proposed policy the policy in use by the City of St. Louis Park with modificarions based � Roseville's eaperience in the community and outcome of the first HIA used ��Is the need to conrinually review the procedure based how to best structure t �"� between the City and future homeowners associarions for accountabi '� an and a final process based on State Statute, allowing for little deviari :,` and prov �� assurance for the City, and ultimately those affected homeowners� w�S �asea on � the City of Kelsey noted involvement most Ms. Kelsey reviewed the HIA Policy details, as listed in the """ ort, highlighring the te�i of the HIA for fifteen (15) years of less as per current City pra �� e; and f's recommendarion that any future homeowner peririon require at least 51°/ the ow ithin the Association making the request to create an HIA; rr��"`� Ms. Kelsey addressed 2009 state legislation revising the of ees to individual unit owners for any proposed improvement, some of which was based on outcomes in Roseville for Westwood Village II. Ms. Kelsey advised that St. I,�� is Park and Hopkins didn't look at the square footage or value � 1 in determiniiig the divisions of costs, but followed the association's by-laws an �, �t1� 1t��e� City Council deteriniiiing if an alternative basis is more fair and reaso le. . e�'a�dvised that staff was recommending �. that the HRA's involvement would be s f' e, hous' g value considerarion, type of finances available that the HRA could fund versu z, ore eatensive bonding; other financing available in the community to assist in projects of tli�� nature. Ms. Kelsey advised that the City Council could assign the HR� �; the implementing�` cy at their discretion to close out funds if there was insufficient '� ��Ms. Kelsey re��wed the experience with Westwood Village II in eaperiencing 7��'%0 of the " essments paid; much reducing the required bonding. Ms. Kel n �� '��ommendarion that the City assess 2%, rather than 1.5% of the total proje unt to cover the City's administrarive costs, which was more realistic based on actual � asec� on actual cost calcularions determined by the City's Finance IJ��p�`�[�n� as it p-.. ��d the first HIA for Westwood Village II in covering not only �i��i�i� �l �„°• er costs��ut also soft costs. x� Ms. Kelse� vised that staff also recommended that the Policy provide for a Development Agreement��tween the City and Association, outlining the City's expectations, terms, and guarantee �� repayment; with the ritle involved in how draws would be processed with an outside ency monitoring the agreement to ensure no liens occurred on the project. ��niber Pust, on behalf of the City Council, expressed appreciarion to staff for their ea�tensive �ork on this Policy, noring the need for guidelines to be in place to avoid the many issues eaperienced with the first HIA issue. Discussion among members and staff included the prepayment of 75% of the homeowners, with 25% unable to obtain other financing, and impacting the entire project and whether other market-place financing could have been an oprion; group ownership considerarions. Member Pust requested language revision to the draft HIA Policy (Attachment A) specific to page 3, Section 4.j, changing "may" to "shall;" with additional discussion related to the five