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HRA Meeting <br />Minutes – Tuesday, March 31, 2009 <br />Page 4 <br /> <br /> <br />Commissioner Tracy suggested that the HRA consider funding incentives related to the $8,000 <br />  <br />down payment assistance for first-time homebuyer funding and tax credits to encourage their <br /> <br /> <br />moving to Roseville. <br />  <br /> <br />Discussion included criteria for such a program; how to structure such an incentive; <br /> <br />implications with FHA financing; how to collateralize and monitor such a program; income <br /> <br />levels; outlying problems; and consensus by commissioners that the concept sounds good, but <br /> <br />further information was needed to determine how to make it fair and equitable, in addition to a <br /> <br />good program for the City overall. <br /> <br /> <br /> <br /> <br /> <br /> <br />Chair Maschka requested that Commissioner Elkins seek additional information through her <br /> <br />  <br />contacts with the Minnesota Housing Financing Agency (MHFA), coordinate with Ms. Kelsey <br /> <br /> <br /> <br />and report back to the full HRA to determine if the HRA should pursue such an option further <br /> <br />  <br />based on that additional information. <br /> <br /> <br /> <br /> <br />Ms. Kelsey advised that she would also run the concept through the attorney to determine if <br /> <br /> <br />there were other issues or impacts to the City’s other loan programs. Ms. Kelsey advised that <br /> <br /> <br />that if the concept were pursued, funding would need to be taken from current loan programs <br /> <br /> <br />and would reduce availability of funds in those programs accordingly, as no other funding <br /> <br /> <br />sources had been identified at this time. <br /> <br /> <br />  <br />12.Future Agenda Items <br /> <br /> <br />Staff advised that this section of the agenda had been created to allow commissioners to be aware of <br />  <br />topics on upcoming agendas, and allowing for an opportunity for them to request any additional details <br />  <br />or related materials prior to that discussion. Staff encouraged individual commissioners to advise Chair <br />  <br />Maschka of those requests and he would in turn coordinate with staff. <br />  <br />  <br />a.Rental Registration Program <br />  <br />b.Multi-Family HRA Involvement <br /> <br /> <br /> <br />c.Summer Neighborhood Enhancement Program <br /> <br /> <br /> <br />d.Quarterly Finance Update <br /> <br />  <br /> <br /> <br /> <br />13. Adjournment <br /> <br /> <br /> The meeting was adjourned at approximately 6:56 p.m. <br /> <br /> <br /> <br /> <br />Next Regular Meeting: April 21, 2009 <br />