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Regular City Council Meeting Monday,January 24,2011 Page 15 units and the association. Mr. Mosel expressed his hope that the City Council un- derstood the residents' unity and their willingness to take on this burden now to avoid further implications in the future. Alyssa Paddock As a resident in the building since 2003, Ms. Paddock noted the beautiful view of area wetlands; and the great location of the complex in the community. Ms. Pad- dock advised that the windows whistled, were warped and rattled; the elevator was a great concern; and noted the pride taken by residents in this condo commu- nity; speaking in support of the HIA, and opining that to-date she hadn't heard any negative comments about it. Acting Mayor Pust closed the Public Hearing at 7:46 p.m. For the benefit of the public, Acting Mayor Pust asked Ms. Kelsey to explain the next steps in the process of creating an HIA. Ms. Kelsey reviewed the process with the next step for the City Council to adopt an ordinance establishing an HIA, at which point the association would be re- quired to hire a third party financial firm to develop a long-term financial plan for the association, along with an architect to evaluate and prepare a bid package seeking a minimum of three (3) bids for the work. Ms. Kelsey advised that the purpose of tonight's Public Hearing was to familiarize new Councilmembers with the HIA policy adopted by a previous City Council in 2009; and further advised that staff anticipated bringing the ordinance to the City Council at the end of Feb- ruary to consider adoption and to establishing an implementing agency, proposed to be the City's HRA. Ms. Kelsey advised that the HRA had been revising poten- tial finance opportunities, one of which would be the HRA applying to Ramsey County for Community Development Block Grant (CDBG) funds since most of the residents in the building met income-eligible guidelines, one of the priorities of CDBG funds. Acting Mayor Pust clarified for the public the HIA provision under State Statute Chapter 428A allowing cities to create an HIA to finance housing improvements for condominiums or townhome complexes, through use of the City's bonding au- thority when lenders in the private market place denied funding. Acting Mayor Pust noted that this funding was of interest to the City's HRA as a means of the community investing in multiple-family housing in Roseville to avoid negative property impacts to neighborhoods. Acting Mayor Pust advised that since the previously and only HIA participated in by the City, the City Council asked the HRA to develop a policy that the City Council had adopted in 2009 for future HIA requests. Acting Mayor Pust encouraged residents to contact Ms. Kelsey with additional questions as the process proceeded.