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. EDA Meeting#54 April 27, 1998 Page 2 held Home Improvement Fairs have indicated that the rental income offsets the costs associated with the event. MOTION/SECOND: Quick/Koopmeiners to approve Resolution No.98-EDA-90,Approving the Expenditure of Tax Increment Funds for the Promotion and Implementation of a"Home Improvement Fair". VOTE: 4 ayes 0 nays Motion Carried B. Consideration of Resolution No.98-EDA-89,Approving the Application for the "Community Fix- Up Fund"Program Offered Through the Minnesota Housing Finance Agency. Mr.Dorgan,Housing Inspector,explained that currently the Minnesota Housing Finance Agency offers low interest home improvement loans to residents of Mounds View whose adjusted annual household incomes are$49,000 or less. Under the Community Fix-Up Fund,the adjusted annual household income is increased to$69,920. As a part of the program application,the city was required to identify a specific need or objective. Staff suggested that this program be targeted to homes in the city which were built prior to 1965. MOTION/SECOND: Koopmeiners/Quick to Approve Resolution No.98-EDA-89,Approving the Application for the"Community Fix-Up Fund"Program Offered Through the Minnesota Housing Finance • Agency. Commissioner Stigney asked if the City would be supplementing loans for incomes up to the$69,920 amount or just to the$49,000. Mr.Dorgan explained that the$69,920 income limit will apply only to the MHFA loans. VOTE: 4 ayes 0 nays Motion Carried 6. REPORTS: A. Status of Housing Replacement Program Projects/Properties: Mr.Dorgan noted that an update of the Housing Replacement Program Property Status was included in the Agenda packet for the Commissioners review. Report of EDA Board Members: Report of Vice President Koopmeiners: No report. Report of Commissioners: Commissioner Quick: No report. Commissioner Stigney: No report. Commissioner Gunn: No report. • Report of Community Development Director: No report.