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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 — Tuesday, May 18, 2010 Page 3 Further discussion included notification for the program through the foreclosure process and/or short-sale program to capture properties as soon as they go back on the market; discretion of each specific city whether to demolish structure(s) on the property and land bank the property for future development or to rehabilitate the structure(s); the mixture of for-profit and non- profit partners and developers, both large and small; and initial work on some multi-family properties by developers. Mr. Trudgeon advised that the City of Roseville was already somewhat involved with this program through allowing developers to operate in Roseville under the program's guidelines, opining that this program was a great benefit to the community at so many levels, including having very qualified developers involved and meeting the strict standards of the First Look Program; avoidance of "flippers" or potential renters; ability on a daily basis to receive notification of all pre-market properties before they went into the MLS; and allowing the City to be aware of what was happening and any potential need to purchase properties as an HRA Board by being first in line if deemed applicable in the future. Mr. Huckleby noted that, to-date; the program had worked with the majority of the larger lender services but was pursuing work with small lenders, representing 15% of the market, particularly in light of foreclosure trends in the near future. Mr. Huckleby advised that there were indications of a strain for small unit apartment buildings locally (4-10 units) that were overleveraged, and foreclosures beginning to occur in the market, with those smaller units usually involved with smaller, local lenders; and recognized a need to build bridges for both those single-family and small apartment buildings so when they because available, a partnership was in place with local government to determine the best strategies. Further discussion included the problematic trends seen in the market place of "flipping" and short sales and questionable ethics of some of those realtors involved; advantages of this type of program partnering with local government for transparency but without the time required for a public approval process if the City was to attempt obtaining the properties; and assistance of the First Look Program in providing demographics and trends to local communities; and the City's code enforcement property issues using elements of this program in identifying specific pockets of concern in the community. Mr. Huckleby noted the advantages in the First Look Program for developers and its principals to make a financial commitment to their investment (the property) by providing their personal guarantees of their financial net work. Chair Maschka thanked Mr. Huckleby and Ms. Griffin for their presentation. 9. Action Items a. Problem Property Ordinance — Repeat Nuisance Ordinance Executive Director Trudgeon provided an overview of this issue as detailed in the Request for HRA Action dated May 18, 2010; with hi staff working with the City's Police Department staff in development of a draft ordinance, and working with multi-family property owners on a management plan to avoid repeat nuisance service calls, putting the responsibility on those owners and their management staff. Staff provided several examples of areas where this cooperation has proven effective through engaging the property owners in partnership with City staff. Mr. Trudgeon briefly reviewed the draft ordinance, noting that while this would not be an ultimate problem solver, it would be another tool for staff's use in alleviating repeat nuisance situations, with an appeal process included in the ordinance to ensure due process was met, while endorsing owner sand occupant responsibility.