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RHRA_ HIA Discussion (09-19-06) - Page 1 of 2 REQUEST FOR HRA DISCUSSION Date: 09-19-06 Item No: 9.b. Staff Approval: Agenda Section: CB Information Item Description: Update regarding the pr ocess for setting up a Housing Improvement Area (HIA) – Westwood Village I (HF0052) 1.0 Background 1.1 The HRA staff has been working with the Westwood Village Town Home Association regarding establishment of a Housing Improvement Area (HIA) as a method to help finance major exterior improvements needed to the site. A HIA is a tool available to local units of government provided by state statute to help fund improvements to common areas within housing areas that can not otherwise be funded with private investment. The HIA works similar to a public assessment with the payback on the public investment added to the taxes of th e owners within the identified area over a period of years. 1.2 Representative from the Westwood Village Association spoke to the HRA in August to provide a summary of their needed improvements and inability to finance those improvements with the association’s existing reserves. In addition, staff provided a summary of the public finance tool to the HRA for their information and questions. 1.3 On September 12, 2006 a petition of the owners within Westwood Village I was received. The petition includes 39 signatures. Per the statutory requirements, the area must have 25% of the owners within the proposed HIA sign the petition. With 47 total units, Westwood Village I have been able to collect signatures from 83% of the owners. The petition is requesting that the City set a public hearing to consider the adoption of an ordinance establishment a housing improvement area. Ordinances can only be adopted by the City Council. 2.0 Process: Housing Improvement Area 2.1 The following is the proposed process in response to the petition. a. October 9, 2006 Council Meeting – Accept the petiti on and set a public hearing to consider establishment of a Housing Improvement Area consisting of parcels encompassing Westwood Village I. b. November 13, 2006 Council Meeting – Hold public hearing and consider adoption of an ordinance establishing the HIA. In addition, consider designating the HRA as the implementing entity for the HIA. Th e Council should know if the HRA is willing to take on that role, therefore, a motion to support the project from the HRA should be considered prior to the public hearing.