2008.10.20 EDA Packet - Laserfiche WebLink

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UPDATE ON WALKER ELDER CARE SERVICE PROJECT Walker Elder Care Services is proposing to construct a 206 unit independent and assisted living senior housing facility in Forest Lake. The project has been approved by the Forest Lake City Council. The City of Forest Lake is using industrial revenue bonds to help finance the senior housing facility. Each City has a limit for bonding revenue of$10 million. The City of Forest Lake has asked the City of Hugo if they can use a portion of Hugo's bonding authority to help finance the project. At the August meeting the EDA made a recommendation to the City Council to allow the City of Forest Lake to use Hugo's bonding authority for this year. Staff updated the EDA on the progress of the project on that they will not be using the City's bonding authority because they will be using another method of financing. UPDATE ON RENTAL AND FORECLOSED PROPERTY Staff will update the EDA on the rental and foreclosed property presentations that are being given to Home Owners Associations (HOA) in the City. The Associate Planner stated that staff is meeting with some of the HOA's in the City to talk about foreclosed homes and rental housing. Staff is visiting all the foreclosed homes in the City to make sure they are being maintained in good condition. This needs to be done so the home does not look vacant. When a home looks vacant is seems as though people vandalize the home or break in. Staff has drafted a rental housing program and talks to the HOA's about the program and what they think about it. The program is designed to find out where the rental properties are in the City and get a contact of who the owner is. UPDATE ON TUESDAY, OCTOBER 7,2008 CITY COUNCIL CANDIDACY DEBATE The Citizen Newspaper and the League of Women Voters are putting on a candidacy debate at City Hall on Tuesday, October 7, 2008. The EDA was invited to attend this debate. ADJOURNMENT Granger made a motion, seconded by Thistle, to adjourn at 10:30 am.