TO CALL TO ORDER THE TUESDAY AUGUST 12TH EACH HOUR A BOARD MEETING. THE FIRST ITEM ON THE AGENDA IS THE APPROVAL OF THE AGENDA
. ANY EDITS OR CHANGES SO WE HAVE A MOTION TO APPROVE THE AGENDA SO MOVED SECOND MOVED BY COMMISSIONER ISA AND
SECONDED BY COMMISSIONER WHO CAME ALL IN FAVOR I MOTION PASSES WHAT ARE WE AT SIX SIX TO NOTHING BECAUSE HE DID VOTE
ALL RIGHT OH OKAY. YEAH THIS DID YOU VOTE ON THAT I'M SORRY MOTION PASSES 720
SCUSE ME ARE RIGHT THE AND NEXT IS THE APPROVAL OF THE MINUTES SO CAN MY I HAVE A MOTION TO APPROVE THE MINUTES
OF THE JULY 22ND 2025 A BOARD MEETING SO MOVED MOVED BY DOLLINGER SECOND AND SECOND BY WHO CAME ALL IN FAVOR I MOTION
PASSES SEVEN ZERO. NEXT ITEM OF BUSINESS IS THE HEIGHTS CONDOMINIUM ASSOCIATION AND HOUSING IMPROVEMENT AREA PROJECT
DEVELOPMENT AGREEMENT. THANK YOU COMMISSIONER. CHAIR, CHAIR AND COMMISSIONERS. SO TONIGHT IS THE HEIGHTS A CHAIR AND I'LL JUST GO THROUGH
WHAT WE'RE GOING TO TALK ABOUT TONIGHT AND THEN JUMP RIGHT IN. SO WE'LL GO THROUGH AN OVERVIEW OF OF THE HEIGHTS PROJECT SO FAR AND TALK ABOUT SOME PROJECT DELAYS. AS YOU'VE PROBABLY AWARE THE
CONSTRUCTION PROJECT HASN'T BEGUN YET SO WE'LL TALK THROUGH THAT. WE'LL TALK THROUGH THOSE WHAT THAT'S RESULTED IN IN TERMS OF THE PROJECT BUDGET AND A REVISED BUDGET INCLUDED IN TONIGHT'S PACKET. I'LL GO THROUGH THE
DEVELOPMENT AGREEMENT WHICH IS ONE OF THE TWO RESOLUTIONS FOR YOUR CONSIDERATION TONIGHT. WE'LL ALSO TALK ABOUT THE FUND LOAN RESOLUTION AND THEN WE'LL TALK SUMMARY NEXT STEPS AND HAVE TIME FOR DISCUSSION.
SO YOU'RE ALL WELL AWARE OF THE HEIGHTS BUT TO GIVE A RECAP THIS IS THE CONDOMINIUM OVER ON XERXES AVE WITH A PARKING STRUCTURE THAT'S BEEN CONDEMNED THE HEIGHTS
ASSOCIATION APPLIED FOR A HOUSING IMPROVEMENT AREA TO FINANCE THE REHABILITATION OF THEIR PROPERTY WHICH IN ALL NON CODE COMPLIANT PARTS OF THEIR PROPERTY WHICH INCLUDE A PARKING STRUCTURE
BALCONIES THAT HAVE BEEN CONDEMNED AND ACCESSIBILITY IMPROVEMENTS AND BACK THE BACK IN END OF 2020 FOR THE AIRTRAIN THE CITY APPROVED THAT REQUEST FOR HOA FINANCING
INCLUDING ADDITIONAL COMPONENTS TO IMPROVE THE AFFORDABILITY OF THAT FINANCING PACKAGE. SO THE PROJECT HAS NOT BEGUN YET AND WE HAVE BEEN IN DISCUSSION WITH THE
ASSOCIATION THROUGHOUT THIS ENTIRE PERIOD AS WELL AS THE ENGINEER TO AND TRYING TO MOVE THE PROJECT FORWARD. BUT THERE WERE FACTORS THAT AROSE THAT PREVENTED THE
PROJECT FROM MOVING FORWARD. SO THOSE ARE LISTED HERE THE PROJECT CONTINUED TO DETERIORATE DURING THAT TIME BETWEEN THE INITIAL APPLICATION FOR FINANCING AND APPROVAL THERE WERE INFLATION
AND TARIFF RELATED COSTS THAT DID IMPACT THE PROJECT AND THERE IS ALSO ADDITIONAL BALCONIES THAT WERE CONDEMNED BEYOND THE TWO BALCONIES THAT WERE INITIALLY CONDEMNED. THE STRUCTURAL REPORT THAT WAS
RECEIVED BY THE CITY IN JULY OF THIS YEAR ALSO CALLED FOR CLOSURE OF THE REMAINING BALCONIES THAT ARE SUPPORTED BY THE PARKING GARAGE. IN ADDITION, THE ASSOCIATION,
THE HEIGHTS ASSOCIATION AND THEIR ENGINEER WENT THROUGH FOUR ROUNDS OF COST ENGINEERING WITH THEIR SELECTED CONTRACTOR TO TRY AND WORK WITHIN THE HOA THE APPROVED HOA BUDGET AND
ULTIMATELY THEY WERE NOT ABLE TO WORK UNDERNEATH THAT BUDGET. AND SO TODAY'S ITEM IS A REVISED BUDGET FOR YOUR CONSIDERATION. SO THERE WERE ALTERNATIVE OPTIONS THAT WERE DISCUSSED.
SO COST ENGINEERING OUTSIDE OF JUST THE PROJECT BUDGET WAS EXPLORED. THERE WAS EXTENSIVE DISCUSSION ON A SURFACE PARKING LOT. SO JUST JUST DEMOLITION OF THE
THE DETERIORATED GARAGE AND THEN CONSTRUCTION OF AN AT GRADE PARKING SOLUTION. THE PROBLEM WITH THIS AS IT WOULDN'T PROVIDE THE CODE REQUIRED NUMBER OF PARKING STALLS AND IT WOULD BE UNCOVERED WHICH IS ALSO NOT
CODE COMPLIANT AND SO STAFF WERE CONCERNED THAT THERE WOULD BE A VARIANCE PROCESS THAT WOULDN'T BE ABLE TO BE SUPPORTED THROUGH STAFF SUPPORTED BY STAFF BECAUSE THE VARIANCE WASN'T MEETING THE
STATUTORY STATE STATUTE REQUIREMENT FOR THAT VARIANCE AND THEN THERE WAS ALSO DISCUSSION OF POTENTIALLY PARKING IN THE BACK OF THE SITE. BUT THERE'S A STEEP GRADE IF
YOU LOOK AT THE TOPOLOGY OR TOPOGRAPHY AND THAT'S MAKES THAT SOCIAL AND ALSO COST PROHIBITIVE. SO AS I MENTIONED THE TONIGHT WE HAVE A REVISED BUDGET AND I
WILL WALK US THROUGH THAT. WHAT YOU'RE LOOKING AT NOW IS WHAT WAS PROPOSED AND ESTIMATED FOR SOURCES AND USES BACK AT THAT INITIAL APPROVAL FOR THE HRA AND HIGHLIGHTED
IN RED ARE THE CHANGES AND I'LL WALK THROUGH EACH ONE OF THESE SO THE TOTAL CONSTRUCTION COST INCREASE FROM WHAT WAS INITIALLY
ESTIMATED TO NOW IS 292,606 AND THAT DOES THAT INITIAL APPROVAL DID INCLUDE A 15% CONTINGENCY THAT THE PROJECT IS NOW EXPECTED TO UTILIZE IN ITS ENTIRETY. SO THIS REVISED CONSTRUCTION
COST INCLUDES ALL THE INITIALLY APPROVED CONSTRUCTION COST AND IT'S 15% CONTINGENCY PLUS 292,000 WHICH NOW WE'VE ONLY 5% CONTINGENCY.
BUT WE IN DETERMINING THIS 5% WE TALKED WITH THE PROJECT ENGINEER AND THEY FEEL THAT THEY'VE GOTTEN TO A POINT WHERE THIS THEIR FINAL BUDGET IS SO LOCKED IN THAT 5% IS
SUFFICIENT NEXT TO HIGHLIGHT IS THE ADDITION OF ADMIN COSTS AS PART OF THIS REVISED BUDGET AND THIS IS TO COVER ALREADY INCURRED COSTS AND EXPECTED COSTS RELATED TO THE TIFF
DISTRICT AND THE HRA ITSELF. SO WE'VE THE CITY AND STAFF HAVE INCURRED COSTS FROM OUR MUNICIPAL ADVISOR AS WELL AS OUR BOND COUNSEL AND ATTORNEY
TO MAKE ALL OF THE RELEVANT DOCUMENTS FORWARD FOR THIS PROJECT. SO JUST EXPECTING THAT THERE ARE MORE COSTS TO COME AND THAT TOTAL INCREASE IS 30 OR
50,000 SO THE HRA AND HER FUND LOAN HAS BEEN INCREASED ACCORDINGLY TO ACCOUNT FOR THAT INCREASED 13 OR 15,000 AND WITH YOU'LL SEE HERE
THERE'S A RANGE OF AN INTEREST RATE FROM 0% TO THE PREVIOUSLY ESTIMATED 3.75% AND THAT FLUCTUATION IS TO ALLOW FOR
THE FINAL INTEREST RATE THAT WE'LL SEE WITH THE BOND. SO THE BOND IS THAT TOP FUNDING SOURCE ON THE TABLE ON THE RIGHT AND THE THERE HAS BEEN DISCUSSION OF GOING FROM
WHAT WE WERE INITIALLY PROJECTING AS A 20 YEAR BOND TO MORE OF A 10 TO 15 YEAR BOND AND THAT'S BOTH TO INCREASE THE MARKETABILITY OF THE BOND AND ALSO TO GET A LOWER INTEREST RATE.
SO WE'RE NOT EXPECTING THAT IT WILL BE AT THAT 6.25% BUT THAT WOULD BE THE MAX THAT THAT WOULD BE ALLOWED FOR THAT BOND. SO THE EXPECTATION IS THE BOND INTEREST RATE WILL BE LOWER
AND ONCE WE KNOW THAT FINAL INTEREST RATE THEN WE'LL BE ABLE TO ADJUST THE INTEREST IN OUR FUND LOAN INTEREST RATE ACCORDINGLY AND ALL OF THIS NUMBER ENGINEERING INTEREST RATE MANEUVERING IS TO ENSURE
THAT OUR FINAL ASSESSMENT THAT GETS PUT ONTO THESE OWNERS DOESN'T EXCEED WHAT WAS ALREADY APPROVED BY THE HOA FINANCING PACKAGE. SO YOU'LL SEE AT THE BOTTOM
THE TOTAL LOAN AMOUNT AND THE MONTHLY PER UNIT ASSESSMENT. THOSE NUMBERS AREN'T CHANGING . SO TO SUMMARIZE AGAIN CONSTRUCTION AND ADMIN COSTS HAVE INCREASED BY 350,000. PART OF THAT IS CONSTRUCTION.
PART OF THAT IS FOR ADMIN COSTS. THE ENTRIES IN HER FUND LOAN WILL ACCOUNT FOR THAT INCREASE . THAT'S THE PROPOSAL AND THEN WE WOULD ASK FOR A RANGE FOR A
FINAL INTEREST RATE BETWEEN THAT ZERO AND 3.75% TO BE DETERMINED ONCE THE BOND IS ISSUED AND THAT PER UNIT TOTAL ASSESSMENT HAS NOT CHANGED.
SO I'LL GO NOW THROUGH HIGHLIGHTS FROM THE DEVELOPMENT AGREEMENT WHICH WE WOULD ENTER INTO THIS AGREEMENT BETWEEN THE HOA, THE CITY AND THE ASSOCIATION.
SO ALL THREE GROUPS WOULD BE PARTY TO THE AGREEMENT SO THE AGREEMENT ALLOWS FOR THE LENDING OF THAT OF THE TOTAL PRINCIPAL BALANCE OF 2.8 MILLION WHICH INCLUDES BOTH
THE INTEREST INTER FUND LOAN AND THE CITY'S BOND AND THE MAX INTEREST RATE FOR THE BOND IS 6.25%. THE FINAL INTEREST RATE WILL BE BELOW THAT. SO THE DEVELOPMENT AGREEMENT
SETS PREREQUISITE FOR THESE FUNDS TO BE AVAILABLE FOR CONSTRUCTION TO START AND THAT INCLUDES THE CONSTRUCTION PLANS BEING APPROVED BY THE CITY BUILDING OFFICIAL. IT INCLUDES A FINAL CONTRACT
BETWEEN THE HEIGHTS AND A PROFESSIONAL CONSTRUCTION MANAGER AND THEN THE CITY ALSO HAS TO RECEIVE SOME CONSTRUCTION STATEMENTS THAT ESTABLISH THAT FINAL PROJECT COST. THE REIMBURSEMENT PROCESS IS
ALSO OUTLINED IN THE DEVELOPMENT AGREEMENT SO THE HEIGHTS ASSOCIATION WILL WORK WITH THEIR PROFESSIONAL CONSTRUCTION MANAGER TO SUBMIT REIMBURSEMENT REQUESTS TO THE AUTHORITY AND THE CITY FOR US
TO MAKE THOSE REPAYMENTS AND THEN THE DEVELOPER AGREEMENT ALSO SETS A MINIMUM BALANCE FOR THE HEIGHTS REPLACEMENT RESERVE FUND. SO WE'VE BEEN RECEIVING UPDATED RESERVE FUND PROJECTIONS FROM THE HEIGHTS HOA AND THAT IS HOW WE'VE
ESTABLISHED THE THE MINIMUM BALANCE THAT THEY'LL NEED TO HAVE BY THE END OF THIS YEAR AND THEN GOING FORWARD THEY HAVE A SCHEDULE FOR WHAT FINAL BALANCES THEY NEED TO HIT AND THAT'S ACHIEVED BY A SCHEDULE
FOR HOA DUES INCREASES AND THE OTHER ITEMS TO HIGHLIGHT ARE THAT THERE WILL BE A REQUIREMENT FOR ANNUAL AUDITED FINANCIAL STATEMENTS AND REPORTS FROM THE HEIGHTS HOA
AS WELL AS A WRITTEN REPORT FROM AN ENGINEER OR A PROFESSIONAL PROPERTY MANAGER DESCRIBING THE PHYSICAL CONDITIONS OF THE PROPERTY TO ENSURE THAT THE IMPROVEMENTS ARE BEING MAINTAINED.
AND THEN FINALLY THE CITY AND THE AUTHORITY ARE ALLOWED UNDER THOSE DEPARTMENT THE SETTLEMENT AGREEMENT TO PREPAY ANY OF THOSE OBLIGATIONS IF SUFFICIENT REVENUES ARE COLLECTED.
SO WE WANTED TO TALK THROUGH WHAT RISKS THERE ARE TODAY WITH THIS REVISED BUDGET WITH THE INCREASE TO THE INTEREST IN HER FUND LOAN. SO FIRST AND FOREMOST THE
APPROVING THAT RANGE OF AN INTEREST RATE MAY MEAN THAT THE FINAL INTEREST RATE IS LOWER THAN THAT INITIAL 3.75%. THE LOWER INTEREST RATE MEANS THAT THERE'S A HIGHER RISK
THAT THE PRINCIPAL BALANCE OF THE INTEREST LOAN IS UNPAID IF HOA IF REVENUES COLLECTED FROM THIS PROJECT ARE LOWER THAN PROJECTED, THE BENEFIT FOR SECURITY THAT WE HAVE IS
THAT THE TAX INCREMENT FINANCING DISTRICT IS REDEVELOPMENT DISTRICT WHICH MEANS IT CAN LAST 26 YEARS AND SO EVEN AFTER THE 20 YEAR PERIOD FOR THE THE OVERALL
DEVELOPMENT AGREEMENT, THE OBLIGATION THERE'LL STILL BE SIX YEARS OF COLLECTION ON THE BACK END THAT CAN GO TOWARD THE REPAYMENT OF THE INTERPHONE LOAN. SO THERE'S A SOME SECURITY THERE EVEN IF REVENUES FROM THE HOA FEE ARE LOWER THAN
PROJECTED. SO NEXT THE OBLIGATION THE REPAYMENT OF OBLIGATIONS SO AS REVENUES COME IN THERE WILL BE A PRIORITIZATION FOR THE BONDS TO BE REPAID FIRST TO ENSURE
THAT THOSE DON'T END UP GOING TO THE TAX BASE SINCE ARE JOE BONDS GENERAL OBLIGATION BONDS AND SO IF FOR ANY REASON THERE'S INSUFFICIENT REVENUES
TO REPAY THE BOND AND THE ENTIRETY OF THE DEBT SERVICE ON THE SRES AND IF A LOAN THE BOND DOES GET THE PRIORITY SO THAT'S JUST A RISK TO BE AWARE OF. AND THEN FINALLY THERE IS AN
OPPORTUNITY COST WITH ALLOCATING AN ADDITIONAL 350 TO THIS PROJECT FROM THE NATURAL DEVELOPMENT FUND AND THAT THOSE FUNDS AREN'T THEY WON'T BE AVAILABLE FOR OTHER PROJECTS, THEY'LL BE SLOWLY REPAID.
BUT IT'S A 20 YEAR TERM AND SO THERE'S AN OPPORTUNITY COST CERTAINLY. SO NEXT STEPS FOR THIS PROJECT TONIGHT THERE'S THE CONSIDERATION FOR THE INTER
FUND LOAN RESOLUTION AND DEVELOPMENT AGREEMENT RESOLUTION. IF THOSE ARE APPROVED THE CITY COUNCIL WOULD CONSIDER FINAL APPROVAL AT THEIR AUGUST 25TH MEETING AND THEY WOULD ALSO CONSIDER A RESOLUTION TO AUTHORIZE AND ISSUE BONDS.
THEN WE WOULD LOOK TO EXECUTE THE DEVELOPMENT AGREEMENT WITH THE HEIGHTS HOA BETWEEN THE CITY AND THEY TRADE AND THEN LOOK TO HAVE ALL OF THE
REQUIREMENTS THAT I MENTIONED THE PREREQUISITES FOR INITIAL DISPERSAL FULFILLED. ONCE THAT'S DONE WE CAN START ISSUING FUNDS TO BEGIN WORK FOR THEM TO BEGIN WORK ON
THEIR PROJECT. AND SO THE OTHER ITEM TO MENTION ONCE THE CITY COUNCIL APPROVES THE ISSUANCE OF BONDS THEN WE'LL HAVE A DEBT SERVICE
SCHEDULE FOR THE BONDS AND THE INNER FUND LOAN THAT WE WOULD THEN PROVIDE TO YOU AT A FUTURE HOA MEETING. SO WE'RE EXPECTING THAT
DEMOLITION WOULD BEGIN IN FALL AND WE HAVE HEARD FROM THE PROJECT ENGINEER THAT THEY HAVE MATERIAL AND EQUIPMENT PRICES LOCKED IN FOR 2025 AND 2026 IF THIS PROJECT IS APPROVED AND THEY'RE ABLE TO
EXECUTE AGREEMENTS WITH THE HEIGHTS HOA SO WITH THOSE MOVING FORWARD DEMOLITION IS EXPECTED THIS FALL WITH THE GARAGE REBUILD TO TAKE PLACE
IN SPRING OF NEXT YEAR AND THEN FOR THE PROJECT TO BE COMPLETED IN SPRING OF NEXT YEAR. SO THERE WOULD BE AN EXPECTATION THAT WE WOULD HAVE TO RESUME THE WINTER PARKING STRATEGY THAT WE THAT WAS
IN PLACE BETWEEN 2024 AND 2025 WHICH IT DOES INCLUDE ON STREET PARKING THERE ARE SPOTS DESIGNATED FOR AREA ACCESSIBLE PARKING CLOSE CLOSER TO THE BUILDING AND THEN DURING SNOW
EMERGENCIES ON STREET PARKING CARS HAVE TO RELOCATE TO NORTH CREST PARK WHICH IS DOWN 81ST I BELIEVE. SO WE WOULD RESUME THAT STRATEGY WHILE THE A BETWEEN
THE DEMOLITION AND THE REBUILD OF THE GARAGE SO THESE ARE THE TWO RECOMMENDED OPTIONS FOR THIS EVENING AND WITH THAT I'LL STAND FOR ANY QUESTIONS
ANY QUESTIONS COMMENTS WE SHOULD MOVE THANK YOU CHAIR CAN YOU SHARE WHY THIS IS TAKING SO LONG TO COME BACK TO
US? I WAS FULLY EXPECTING FOR US TO BE HALFWAY DONE WITH THIS BY NOW. CHAIR COMMISSIONERS THANK YOU FOR THE QUESTION. I REMEMBER WHEN WE WERE HAD
THIS ITEM IN FRONT OF YOU THERE WAS A EXPECTATION THAT THE PROJECT WAS LOOKING TO BEGIN AROUND MARCH THAT FUNDING WOULD BE AVAILABLE AND THEREFORE THE EXPECTATION IS THAT THE PROJECT WOULD BEGIN. SO AS I MENTIONED THE THE
ENGINEER THAT THEY HAD BEEN WORKING WITH AFTER HEARING ABOUT THE PROJECT APPROVAL WENT BACK TO THE THE SELECTED CONTRACTOR THAT BECAUSE THEY HAD SUBMITTED TWO BIDS FROM
TWO SEPARATE CONTRACTORS SO THE CONTRACTOR THAT HAD SUBMIT THAT SUBMITTED THE LOWER BID AND WENT THROUGH SEVERAL ROUNDS OF BASICALLY FIGURING OUT WHAT THAT FINAL COST WAS IT WAS A BID IT WASN'T THE FINAL PROJECT COST, IT WASN'T
THE FINAL QUOTE AND THROUGH THAT PROCESS IT DID EXTEND THE PLANNING PHASE ESSENTIALLY FOR THE PROJECT. THEY WEREN'T ABLE TO SUBMIT FOR BUILDING PERMIT AND SO WE
FOUND OURSELVES HERE TONIGHT SO THERE'S I WOULD SAY THE MAJORITY OF DELAYS HAVE BEEN JUST ADMINISTRATIVE AND WORKING WITH SEVERAL GROUPS
BACK AND FORTH AND OKAY. AND I WAS UNDER THE UNDERSTANDING THAT THE ENGINEER HAD GONE THROUGH HAD VERY FIRM PRICING CAN EXPECT
WHAT HAPPENED WHEN TRUMP CAME INTO OFFICE BUT WE HAD A GOOD STABLE UNDERSTANDING OF THE COST AND THE 15% AND NOW WE ONLY HAVE A 5% CONTINGENCY AND
THAT MAKES ME EXTREMELY NERVOUS BECAUSE WHO KNOWS WHAT'S GOING TO HAPPEN AGAIN AND WHAT IS THE PROCESS IF TARIFFS DOUBLE AGAIN AND COSTS
GO UP AGAIN, WHAT IS THE PROCESS FOR THAT? TRANSMISSION IS ONE WAY THAT THE PROJECT CAN MITIGATE THOSE RISKS ARE MAKING THE RAW MATERIAL AND EQUIPMENT
PURCHASES AS SOON AS THIS PROJECT GETS APPROVED THROUGH THEIR CONTRACT BETWEEN THEIR CONTRACTOR AND THE HOA ONCE THEY HAVE THOSE MATERIALS PURCHASED THEN PRICE INCREASES WOULDN'T IMPACT THOSE GOODS.
SO THEN THERE IS ONLY FASTER INCREASES TO LABOR AND WE'VE HEARD FROM THE ENGINEER THAT THERE WOULDN'T BE AN EXPECTATION FOR LABOR COST
INCREASES UNTIL MID 2026 JUST WORKING OFF OF HOW UNION DUES UNION WAGES ESSENTIALLY FUNCTION. SO THE EXPECTATION IS IF THE PROJECT CAN GET APPROVED THEY
CAN LOCK IN THE MAJORITY OF THE PROJECT COST. NOW OKAY. THE COMMISSION DOUBLING HER
JUST PIGGYBACKING OFF OF COMMISSIONER MOUA, DID THEY FACTOR IN ANY SORT OF LIKE CASCADING UNFORESEEN PROBLEMS THAT THEY MIGHT COME UP WITH
IN DEMOLITION IN OR POSSIBLE? I DON'T KNOW LIKE PLUMBING DRAINAGE, THINGS LIKE THAT THAT MAY BE BURIED UNDER CONCRETE THAT THEY WON'T SEE UNTIL AFTER THEY DEMOLISH THAT
COULD BE MORE COSTLY DURING COMMISSIONERS I, I WON'T SAY THAT I'VE HEARD SPECIFIC CONTEMPLATION OF THOSE TYPES OF ISSUES BUT I WILL SAY THAT THIS ENGINEER HAS BEEN
INVOLVED WITH THIS PROJECT FOR THE ENTIRETY OF THE TIME THAT THE CITY HAS BEEN INVOLVED WITH THE PROJECT WHICH IS I THINK EIGHT YEARS NOW AND THEY'VE DONE MULTIPLE SITE VISITS AND THEY'VE WORKED
EXTENSIVELY WITH THE HOA AND I WOULD HOPE THAT THEY'VE PLAN FOR THOSE CONTINGENCIES AND I THINK IT IS REFLECTED IN THE EXTENSIVE BACK AND FORTH THAT THEY'VE HAD WITH THEIR CONTRACTOR THAT THEY ARE
TRYING TO HAVE THE MOST COMPREHENSIVE ANALYSIS OF THAT FINAL BUDGET NUMBER AND THAT'S WHAT WE HAVE TONIGHT. THAT'S THE BUDGET NUMBER THAT WE HAVE REFLECTED COMMISSIONER
WOOTEN IS THERE ANY CONSIDERATION OF PENALTY IF WE HAVE TO REITERATE THIS AGAIN BECAUSE I DON'T KNOW IF I UNDERSTAND CLEARLY THE ADMINISTRATIVE CHALLENGE HERE.
WAS IT ON THE CITY'S PART OR WAS IT ON THE ENGINEER'S PART BECAUSE I'M NOT HEARING THAT THE CITY HAD ANYTHING TO DO WITH THE DELAY OF THIS PROJECT
BUT YET WE'RE MOVING OUR COST OR INVESTMENT UP TO COVER, YOU KNOW, THE EXPENSES THAT ARE BEING INCURRED AND IF NOT UNDERSTAND IT CORRECTLY.
SO I'M REALLY DISTURBED BY THIS IN PART BECAUSE WE NOW WE'RE TALKING NEXT SPRING AND THAT'S EIGHT MONTHS OFF, SEVEN MONTHS OFF.
I'M NOT A NERVOUS I'M REALLY DISTURBED BY THE FACT THAT WE'RE GOING TO HAVE ANOTHER HICCUP AND THESE PEOPLE ARE SUFFERING RELATIVE TO THIS CONSTRUCTION BEING DONE AND
WE'RE, YOU KNOW, IN THE COST OF THOSE THOSE THOSE CHANGES. SO I'M INTERESTED IN KNOWING IS THE CONTRACTOR GOING TO TAKE A BITE BACK ON SOME
OF THESE IMPROVEMENTS? I DON'T THINK I'M ON A LINE BY ASKING THAT CHAIR AND COMMISSIONER OH SO I WOULD SAY
IF THERE'S ANY ANSWER THAT CAN BE PROVIDED BY THE SO THE HEIGHTS AS A PROPERTY MANAGEMENT COMPANY CITIES MANAGEMENT THAT RECENTLY STARTED AND TOOK OVER FOR THE PREVIOUS MANAGEMENT COMPANY AND I DON'T KNOW IF THEY CAN
PROVIDE ANY INSIGHT ON CONTRACTOR PRICING OR JENNIFER CODES ALSO HERE THE PRESIDENT
FOR THE APPRAISAL YEAH I CAN THANK YOU SO MUCH FRANK COMMISSIONERS THANK YOU SO MUCH FOR THE OPPORTUNITY TO TALK TO YOU ABOUT THE HEIGHTS
TODAY I THINK I SPEAK ON BEHALF OF THE ENTIRE HOA WHEN WE THANK YOU FOR YOUR INITIAL APPROVAL OF THE LOAN FOR THIS PROJECT. IT HAS BEEN A LONG TIME COMING
AND I KNOW THAT THERE IS A REAL NEED AND DESIRE. I DO NOT LIVE AT THE HEIGHTS. I OWN TWO INVESTMENT PROPERTIES AT THE HEIGHTS. I DON'T LIKE THAT AND THE
REASON I DON'T LIKE THAT IS BECAUSE THIS IS A THIS IS HOUSING THAT'S AFFORDABLE THAT PEOPLE SHOULD BE ABLE TO GET BUT YOU CAN'T GET A LOAN FROM ANY BANK SO YOU HAVE TO PAY
CASH AND WHO'S GOT CASH EXCEPT INVESTORS AND I DON'T THINK THAT'S RIGHT AND THAT'S PARTIALLY WHY I GOT INVOLVED WITH THIS.
I WALKED INTO OUR LAST PROPERTY MANAGEMENT COMPANY'S OFFICE ONE DAY TO GET SOME KEYS AND ASKED ABOUT THE LOAN PROCESS AND IN THE PROGRESS AND OUR PROPERTY
MANAGEMENT COMPANY AT THE TIME SAID WE DON'T KNOW THE CURRENT CHAIR DOESN'T LIVE IN THE BUILDING AND SHE'S NOT VERY COMMUNICATIVE BUT YOU KNOW WE'RE JUST KIND OF HANGING ON
TO SEE WHAT HAPPENS AND I DECIDED TO GET INVOLVED THEN AND TRY TO PUSH THROUGH, YOU KNOW, WHATEVER WE COULD FOR SOLUTIONS. AND SO I'VE BEEN INTIMATELY
INVOLVED PROBABLY FOR OVER A YEAR NOW TRYING TO HELP AND UTILIZE WHAT RESOURCES I HAVE TO HELP THE HEIGHTS GET THIS LOAN FOR THE GARAGE THAT THEY
SO DESPERATELY AND THAT WE SO DESPERATELY NEED BUT THAT THE PEOPLE WHO LIVE THERE SO DESPERATELY NEED AT THE BEGINNING OF THE YEAR AFTER OUR LOAN WAS APPROVED I IMMEDIATELY GOT ON THE PHONE
WITH ENCOMPASS AND ENCOMPASS SAID WE'RE TALKING TO THE CONSTRUCTION COMPANY ABOUT THE SCOPE OF THE PROJECT AND I SAID WELL HASN'T HAVEN'T YOU
TALKED ABOUT THE SCOPE OF THE PROJECT? WHY ARE WE TALKING ABOUT THE SCOPE OF THE PROJECT? AND THEY SAID WELL BECAUSE YOU APPROVED FOR THIS MUCH BUT WE THINK IT WOULD COST THIS MUCH. AND I ASKED THE QUESTION WELL
WHAT NUMBERS DID YOU USE? AND THEY SAID 2022 AND I SAID YOU USED A NUMBER FROM 2020 TO TO TO ESTIMATE THE PROJECT
BECAUSE THAT'S THE LAST TIME THEY HAD BEEN INVOLVED AND I WAS UNDERSTANDABLY NOT VERY HAPPY TO HEAR THAT. AND SINCE THEN WE HAVE CHANGED THE PERSON THAT WAS HELPING US WITH THIS PROJECT.
WE'VE CHANGED PROPERTY MANAGEMENT COMPANIES. WE AS A COMMUNITY HAVE REALLY TRIED TO PUT IN THE PIECES TOGETHER OF COMPETENCE SO THAT
WE ARE ABLE TO GET THE PROJECT DONE AS FAR AS THE APPROVAL THE BUDGET THAT WAS APPROVED I DID SPEAK WITH KENNY AND HIS
TEAM ABOUT WHAT COULD WE POSSIBLY DO WITHIN THAT BUDGET ? CAN WE DO A SURFACE ONLY? WHAT CAN WE YOU KNOW CAN CAN WE FIGURE OUT A WAY TO GET A ROAD INTO THE BACK OF THE
PROPERTY? WHAT CAN WE DO? AND I REFERRED TO THIS AS PROJECT LAST RESORT BECAUSE THE ENGINEERING COMPANY WAS
VERY HESITANT TO DO THAT BUT I, I DIDN'T SEE WHY WE WOULDN'T EXPLORE THAT AND SO AT THE END OF THE DAY WE EXPLORED A SURFACE ONLY LOT
BUT MY UNDERSTANDING IS THAT THE VARIANCE IS TO GET A SURFACE ONLY LOT IS VERY DIFFICULT TO DO AND THAT CONDOMINIUM BUILDINGS IN BLOOMINGTON WOULD REQUIRE A
CERTAIN NUMBER OF PARKING SPACES. THEY HAVE TO BE COVERED UP AND THEN SOMETHING ABOUT OUR YOU KNOW PEOPLE OWN THEIR PARKING SPACES SEPARATELY FROM THEIR
CONDOS WHICH IS TRUE. I HAPPEN TO OWN THREE PARKING SPACES SEPARATE FROM THE TWO CONDOS THAT I OWN AND SO IT WASN'T POSSIBLE. WE DID TRY TO EXPLORE ANY
OPTION TO NOT COME BACK TO YOU BECAUSE WE UNDERSTAND THE GRACE AM THAT YOU GAVE US TO CONSIDER THIS AND WE'RE SO GRATEFUL.
SO WE WENT BACK TO THEM AND SAID COME UP WITH SOMETHING THAT IS NOT A 2022 NUMBER AND IF BY THE WAY THIS THROUGH THE NUMBERS YOU SHOULD HAVE COME TO THE HRA AND EXPLAIN THAT TO THEM.
AND SO WHAT WE'VE DONE IS HIRED CITY'S MANAGEMENT WHO HAS QUITE A DEPTH OF RESOURCES FOR EVERY CONTRACTOR AND SUBCONTRACTOR THEY ARE LOOKING
AT BIDS THAT COULD BE LOWER FOR THOSE SUBS. SO ANY COST SAVINGS THAT WE CAN GET WE'RE GOING TO HAVE THOSE COST SAVINGS. THE BUILDING HAS PUT INTO PLACE. I MEAN RIGHT NOW I THINK BY
THE END OF THIS YEAR WE'RE SUPPOSED TO HAVE 60,000 IN A YEAR. I MEAN OUR FISCAL YEAR WHICH WE MADE 31 WE'RE SUPPOSED TO HAVE SOMETHING LIKE 59,000 IN OUR RESERVES. WE WILL HAVE THAT BY DECEMBER
31. SO WE ARE FIVE MONTHS AHEAD. WE'LL BE FIVE MONTHS AHEAD OF WHERE WE NEED TO BE. YOU KNOW, WE'VE CUT COSTS THAT WE NEED TO CUT IN THE BUILDING. WE'RE TAKING A SERIOUSLY YOU
KNOW, WE'RE NOT BUILDING AN EXERCISE ROOM IN THE BASEMENT. SO YOU KNOW, THIS IS OUR FOCUS. THIS IS OUR PROJECT. THIS IS WHAT WE WANT.
AND YOU KNOW, MY HOPE WOULD BE THAT THE GARAGE IS FIXED SO THAT PEOPLE YOU KNOW, I CAN SELL MY UNITS TO SOMEBODY THAT ACTUALLY I CAN GET A LOAN FOR THAT UNIT AND SHOULD HAVE THAT UNIT AND NOT AN INVESTOR LIKE
MYSELF. I'M HAPPY TO ANSWER ANY QUESTIONS I HAVE BEEN ON ALMOST ALL THE CALLS WITH ENCOMPASS. I HAVE BEEN ON ALMOST ALL THE CALLS THAT'S EXTRANEOUS.
I HAVE SORT OF BEEN ON THE FRONT LINES OF THIS THE ENTIRE TIME. I THINK CITY OF BLOOMINGTON HAS BEEN EXTRAORDINARY IN THEIR HELP FOR US AND IN THEIR PATIENCE.
BUT YOU KNOW, WE THE NUMBER UNFORTUNATELY INCREASED BECAUSE OF THE COSTS BUT LOCKING IT IN FOR 2526 WE GET SHOVELS IN THE GROUND.
WE'LL BE OKAY . AND THERE ARE OTHER QUESTIONS. COMMISSIONER CARTER THANK YOU, CHAIR SO I APPRECIATE THE TESTIMONY.
ONE OF THE QUESTIONS I HAVE WAS RELATED TO WHY THE HEIGHTS HAD CHANGED THEIR PROPERTY MANAGEMENT COMPANY AND THEIR CONTRACT WITH THE CONSULTANT AND SO I FEEL LIKE THAT'S
REALLY HELPFUL KIND OF BACKGROUND INFORMATION AND CONTEXT IN PAINTS THE PICTURE I THINK FOR US AN ADDITIONAL QUESTION I HAVE WHAT IS OUR CONFIDENCE LEVEL THAT THE
BUILDING ITSELF WILL CONTINUE TO BE SAFE? SO IF WE MAKE THIS BIG INVESTMENT I WOULD HATE FOR FIVE, SEVEN, TEN YEARS DOWN THE ROAD FOR US TO FIND OUT
THAT THERE'S SOME OTHER MAJOR INFRASTRUCTURE ISSUE BUT MORE RELATED TO THE LIVING SPACE AND SO ARE WE CONFIDENT THAT THE BUILDING ITSELF IS GOING
TO BE STANDING 20, 30 YEARS FROM NOW? COMMISSIONERS THANK YOU FOR THE QUESTION. SO I KNOW THAT OUR BUILDING OFFICIAL BERNADETTE DID WELL
EXPAND THE SCOPE OF THE STRUCTURAL ENGINEER REPORTS THAT WE'VE BEEN ASKING THEM ASKING THE HEIGHTS TO PROVIDE TO THE CITY AND THEN I KNOW SHE'S DONE HER OWN WALKTHROUGH WITH RIDENT RESIDENTS AT THE
HEIGHTS THROUGH THE THROUGH THE RESIDENTIAL PORTION OF THE BUILDING SO NOT THE GARAGE BUT THE ABOVE GROUND COMPONENT AND WHAT FROM WHAT I'VE HEARD IS THAT THERE ARE NO CONCERNS WITH THE RESIDENTIAL COMPONENT
OF THE BUILDING. THE COMPONENT WITHIN THE GARAGE THAT IS ATTACHED TO THE RESIDENTIAL THE RESIDENTIAL STRUCTURE IS A LARGE STEEL
GIRDER. THAT'S WHAT I'M UNDERSTANDING AND THE ENGINEER REPORTS HAVE BEEN SCRUTINIZING THAT TO KNOW IF THERE ARE REQUIRED REPAIRS OR IMPROVEMENTS OR ANY SORT
OF MITIGATION THAT'S NEEDED FOR THAT. SO WHAT I'M TRYING TO CHARACTERIZE IS THAT THE ASSESSMENTS OF THE CITY AND THE ENGINEER HAVE ENCOMPASSED RECENTLY THE RESIDENTIAL COMPONENT. OKAY. THAT'S GOOD.
THAT'S GOOD. AND THEN I ASSUME THAT THE CITY FINANCE TEAM HAS BEEN INVOLVED IN LOOKING AT THIS DEAL. I GUESS ONE OF THE THINGS I KNOW WE THINK ABOUT AS A
COUNCIL IS JUST LIKE WHAT MIGHT CERTAIN PROJECTS DO TO OUR BOND RATING AND I WOULD ASSUME THIS WOULD NOT HAVE AN EFFECT. BUT IF I MEAN IS THERE A
CHANCE THAT IT COULD AFFECT OUR BOND RATING ? HI. AND COMMISSIONERS KIM BERGER AND FOR THOSE WHO DON'T KNOW ME I'M THE COMMITTEE
INVOLVEMENT DIRECTOR OF I WOULD SAY THAT THE THIS TYPE OF WE ARE ISSUING A BOND SO IF WE WERE TO DEFAULT ON THAT MILLION DOLLAR BOND THAT COULD ALWAYS IMPACT THINGS. BUT THERE'S PLENTY
OF PROTECTIONS IN PLACE WITH THE PLANS FOR REPAYMENT THAT I DON'T THINK THAT'S A RISK AT ALL HERE. ONE OF THE WE HAVE MULTIPLE SOURCES FOR REPAYMENT AND PUT IN A LOAN AND TIFF COMING
IN AND WE THE BEST THING ABOUT THE LOANS THEMSELVES IS THAT THEY ARE SECURED AGAINST THE PROPERTY SO IT'S MUCH MORE SECURE KIND OF DEBT THAN WHAT WE TYPICALLY HAVE WHEN WE
PROVIDE LOANS TO PROJECTS. OKAY. THANK YOU. THAT IS VERY HELPFUL AND I REALLY APPRECIATED THE SLIDE OUTLINING THE RISKS AND I GUESS I WOULD ALSO I THINK
IT'S HELPFUL TO JUST REMIND EVERYBODY OF THE RISKS OF NOT DOING IT. AND SO I KNOW IT'S VERY DISAPPOINTING TO BE IN THIS POSITION AND AGAIN I HEAR FROM
THE RESIDENTS AND FOLKS WHO ARE ON THE BOARD OF THE HOA THAT THEY ARE ALSO ARE FRUSTRATED AND SO YOU KNOW, I UNDERSTAND THAT THERE ARE PROBABLY THINGS THAT DID NOT
GO THE RIGHT WAY ALONG THE WAY. BUT WE'RE HERE NOW AND SO YOU KNOW, I'LL BE SUPPORTING THAT PROPOSAL TONIGHT AS MUCH AS I
DON'T LOVE IT, I REALLY HATE TO THINK OF NOT MAKING THESE REPAIRS NOT BEING IT NOT BEING ABLE TO MAKE THESE REPAIRS AND THEN MANY PEOPLE LOSING THEIR
HOMES AND SO AND I DID DO THE TOUR I HOPE EVERYBODY TOOK ADVANTAGE OF THAT AND IT'S IN REALLY BAD CONDITION AND YOU CAN SEE HOW QUICKLY THINGS
HAVE BEEN DETERIORATING. AND SO YEAH, I JUST I, I, I DON'T THINK WE CAN'T NOT DO IT SO THAT'S WHERE I MET COMMISSIONER WOOTEN.
I DID HAVE ONE OTHER THING AND BASED ON WHICH IS REFERRING TO AS FAR AS THIS IS FOR PUTTING I THOUGHT I OVERHEARD A DISCUSSION AROUND THE TIME I
WENT WITH THE TOUR THAT ALL OF THE UNITS THAT ARE ON THE BACK END OF THE BUILDING TO THEIR BALCONIES WILL BE TAKEN AWAY AND SO I WANTED TO KNOW
IF THAT AFFECTS ANYTHING TRUE COMMISSIONER WHAT I'VE HEARD FOR BALCONY REPLACEMENT OH YEAH. OKAY.
SO THANK YOU. THAT'S PERFECT. THANKS. SO IN 2000 AND I'M SORRY 2022 NONE OF THE BALCONIES HAD BEEN CONDEMNED.
SO THROUGHOUT THIS PROCESS IN THE SUMMER OF 2024 SIX BALCONIES IN THE REAR WERE CONDEMNED AND NO ONE WAS ALLOWED TO GO OUT ON THEM. IT HAD TO DO WITH THE BALCONIES SIT ON WOOD SUPPORTS
AND THOSE HAVE BEEN ROTTED THROUGH BECAUSE OF THE WAY THE WATER HAS COME OFF OF THE ROOF AND THEN ALSO WATER COMING FROM SURROUNDING PROPERTIES.
THEREFORE THE BACK BALCONIES OR SIX WERE CONDEMNED WHEN WE SPOKE WITH ENCOMPASS ABOUT THAT WHEN THIS WAS APPROVED
IN JANUARY THEY SAID THERE'S JUST NO MONEY TO DO THE BALCONIES AND I SAID YOU KNOW THAT'S NOT ACCEPTABLE BUT YOU KNOW WHAT CAN YOU DO SO THAT WE CAN GET SOMETHING IN THE BACK THERE BECAUSE WE CAN'T
HAVE THE BALCONIES DONE. AND SO THEY AGREED TO DEMOLISH THE BALCONIES AND THAT WE WOUL PAY FOR THEIR BALCONIES ,THE JULIET BALCONIES. SO JUST A RAILING ACROSS THE
BACK SO YOU CAN OPEN THE DOOR . WE ALSO LOOKED INTO POSSIBLY REPLACING THOSE SLIDING DOORS WITH WINDOWS MUCH MORE EXPENSIVE. WE ALSO LOOKED INTO REBUILDING
THOSE BALCONIES AND THE COST IS JUST PROHIBITIVE. AND SO THE DECISION WAS MADE THAT THOSE SIX BALCONIES YOU KNOW, WE WOULD JUST BEEN WE'D PUT UP THE JULIET BALCONIES.
THEN COME SUMMER 2025 THE ALL THE OTHER BALCONIES IN THE BACK WERE CONDEMNED AND SO THEN WE HAD TO GO BACK TO THE DRAWING BOARD AND SAY OKAY NOW WE'VE GOT ALL OF THESE
BALCONIES TO DEMOLISH. WHEN WE WENT BACK TO ENCOMPASS TO DISCUSS THAT AND CAMPUS SAID AT OUR LAST MEETING WITH THE CITY THAT THEY HAVE NOW FACTORED INTO THE COST THE
BOTH THE DEMOLITION AND THE STRUCTURING OF THE JULIET BALCONIES SO THEY'RE GOING TO INSTALL THE JULIET BALCONIES AND THEY'RE GOING TO DEMOLISH THE CURRENT BALCONIES THAT'S ON THE FRONT AND THE BACK. THE FRONT WAS ALWAYS IN PLAY
BECAUSE OF THE WAY THE BALCONIES SIT OVER THE PARKING LOT AND HOW THEY SIT ON THE UNDERLYING STEEL STRUCTURE. BUT NOW ALL OF THE BALCONIES IN THE BUILDING ARE CONDEMNED.
WE'RE GOING TO TAKE ALL THE BALCONIES IN THE BACK, MAKE THEM JULIET AND THEN THE BALCONIES IN THE FRONT. I BELIEVE THE PLAN IS TO REBUILD THEM. I DO NOT KNOW WHAT MATERIALS
THEY'LL BE USING IN THE BACK BUT WE'LL BE GRATEFUL FOR WHATEVER THEY DO. YOU COMMISSIONER WHO CAME. THANK YOU, CHAIR.
I'M JUST A COUPLE QUESTIONS. I'M KIND OF CURIOUS TO KNOW THE LAST TIME THAT THE GARAGE WAS USED WAS IT FULLY USED?
I HADN'T NOTICED A HYPE SITUATION THERE. IT'S A VERY LOW GARAGE AND SO I'M JUST I'M JUST CURIOUS ON THE PERCENTAGE WITH THE SIZE OF VEHICLES TODAY COMPARED TO
WHEN THIS GARAGE WAS ORIGINALLY BUILT IF THAT HAS BEEN A CONCERN. AND NUMBER TWO, MY OTHER QUESTION IS IF THERE'S ANY OCCUPANCY CONCERNS GOING FORWARD WITH THIS. WELL, CAN I KNOW ABOUT THERE
YOU CAN TELL THEM THE DATE BUT I CAN TELL YOU THAT THE GARAGE WAS USED EXCEPT FOR SPITE SPACES THAT HAD THE SUPPORT PUT IN SO ARTIFICIAL SUPPORTS
FROM ENCOMPASS AND SO THOSE SPACES WERE TAKEN AWAY. THOSE PEOPLE WEREN'T WEREN'T ABLE TO USE THOSE SPACES BUT ALL OF THE OTHER SPACES WERE UTILIZED ARE QUITE FREQUENTLY BRAND NEW DOOR ON THE GARAGE
WAS PUT ON I BELIEVE 2 OR 3 YEARS AGO AND IN FACT THEY'RE GOING TO REUSE THAT DOOR IN THIS PROJECT THAT WE'RE DOING SO WE DON'T HAVE TO HAVE THAT COST.
BUT YES IT IS USE YES IT IS LOW AND NO I WOULDN'T PUT LIKE A BIG OLD TRUCK DOWN THERE BUT WE HAVE TOWED CARS OUT OF THERE SO A TOW TRUCK CAN FIT DOWN THERE IT IS WHAT IT IS WE'RE MOSTLY EXCITED ABOUT
HANDICAPPED ACCESSIBLE PARKING ESPECIALLY GIVEN THE AGE OF MANY OF THE RESIDENTS THERE . CHAIR AND COMMISSIONERS, I'LL JUST ADD THE CODE REQUIRED
NUMBER OF STALLS I BELIEVE IS 56 STALLS AND WHAT IF YOU WERE TO RESTORE THE STRUCTURE TO THE AMOUNT OF STALLS THAT IT PREVIOUSLY HAD?
IT WAS I BELIEVE 62 OR 63 SO THEY'RE BEYOND WHAT CODE IS REQUIRING AND THEN THEY DO HAVE THEY'RE FULFILLING THAT ENCLOSED PARKING REQUIREMENT WHICH I BELIEVE IS A 1 TO 1 REQUIREMENT.
SO 30 STALLS WOULD NEED TO BE UNDERGROUND AND WHAT I'VE HEARD FROM THE PREVIOUS PROPERTY MANAGER WAS THAT THERE WAS SOMEWHERE BETWEEN 40 AND 50 VEHICLES LIKE A SCRUB TO FOLKS THAT WERE ACTIVELY LIVING AT THE HEIGHTS.
AT LEAST THAT WAS THE LAST TIME THAT I ASKED. SO I THINK THOSE NUMBERS REFLECT THAT THE RESTORATION OF THE RAMP WOULD ACCOMMODATE THE FOLKS THAT LIVE THERE. I THINK THAT THAT'S CORRECT
AND I'M GUESSING THAT THERE'S EVEN LESS VEHICLES BECAUSE SOME PEOPLE WERE JUST LEAVING THEIR VEHICLES PARKED IN THEIR AND THOSE WERE THE VEHICLES THAT WE ENDED UP HAVING TO TOW . SO MY GUESS IS THERE'S LESS
VEHICLES THAN THAT AND THEN WE'LL OF COURSE HAVE THE PARKING ON TOP. PERFECT. THANK YOU. I'M NOT GOOD WITH DEPTH PERCEPTION SO I APPRECIATE THE CLARIFICATIONS.
COMMISSIONER MOURA THESE ARE HAS THERE BEEN A CHANGE IN THE VACANCY RATE SINCE WE LAST TALKED ABOUT THIS IN DECEMBER? >> WE'VE HAD MEASURED WHERE
YOU MAY KNOW THIS BETTER THAN I DO BUT WE'VE HAD A COUPLE OF RESIDENTS THAT HAVE DIED AND PASSED AWAY AND THEIR ESTATES THEIR CHILDREN GENERALLY HAVE TAKEN OVER THOSE APARTMENTS.
I DON'T BELIEVE THEY HAVE BEEN RENTED. AND SO IT'S IT'S IT'S MORE COUNTED TOWARD DEATH AGAIN, THERE'S A PROBLEM WITH SELLING THE APARTMENTS TO SOMEBODY WHO
NEEDS A LOAD. AND AS FAR AS THE RENTALS THAT ARE THERE AND THERE ARE LESS RENTALS THAN PEOPLE THAT LIVE THERE THOSE ARE AT FULL
OCCUPANCY IS MY UNDERSTANDING . BUT WE HAVE NOT HAD ANYONE BUY OR SELL A PROPERTY THERE THOUGH. YEAH WE HAVEN'T HAD ANYONE BUY OR SELL A PROPERTY THERE AND
SOMETIME NOT CERTAINLY NOT SINCE DECEMBER. OKAY I'LL JUST MAKE MY COMMENTS.
I WILL BE SUPPORTING THIS WITH LITTLE FAITH IN THE ENGINEERING COMPANY IF IT COMES BACK AGAIN I WE'RE GOING TO HAVE TO HAVE STRONG CONVERSATIONS ABOUT SWITCHING
AND MAKING SURE THIS IS DONE RIGHT BECAUSE THE PLAN AND PROCESS THAT HAS COME BEFORE US IN DECEMBER WAS NOT UP TO DATE AND THEN IT WAS INCORRECT AGAIN WHEN WE ARE SUPPOSED TO
BE BUILDING THIS AND NOW WE'RE ASKING FOR ADDITIONAL FUNDS AND IF IT COMES BACK AGAIN IT'S GOING TO BE ADDITIONAL FUNDS AGAIN. AND SO MY CONFIDENCE IN THE ENGINEERING COMPANY IS EXTREMELY LOW RIGHT NOW.
THE ONLY REASON WHY I'M SUPPORTING THIS IS BECAUSE IT'S ESSENTIAL FOR THESE RESIDENTS. THERE'S GOING TO BE A AND I'LL
JUST LEAVE IT AT THAT. THANKS, COMMISSIONER WHO CAME? THANK YOU, CHAIR. I WOULD LIKE TO PIGGYBACK OFF WHAT COMMISSIONER MOUA SAID IS
I WILL ALSO BE IN SUPPORT OF THIS FOR THE RESIDENTS BECAUSE IT IS A NECESSITY. BUT AGAIN I AGREE THAT I THINK
THIS HAS DEFINITELY PUT SOME LIGHT ON THINGS THAT NEED TO BE DISCUSSED WITHIN YOU KNOW, THE REALM OF THE HIPAA ID REQUIREMENTS, THINGS LIKE THAT.
YOU KNOW IN MY WORLD A BED IS A BED AND THAT'S KIND OF WHAT IT IS. YEAH, YOU HAVE LIKE A PERCENTAGE THAT YOU CAN MESS AROUND WITH BUT A BED IS A BED . SO I JUST I HOPE THAT YOU KNOW
,WE ALWAYS SAY WE WE LEARN AS WE GO WE LEARN AS THINGS COME TO US AND THIS IS WHERE POLICIES PROCEDURES ALWAYS COME IN IN IN ALL WORLD. SO I JUST LOOK FORWARD I ARE
LOOKING FORWARD. I HOPE THAT WE CREATE SOME MORE YOU KNOW REQUIREMENTS HAVE A BETTER UNDERSTANDING FOR IF THIS HAPPENS AGAIN AND ALSO I HOPE THAT WE'RE BEING A LITTLE MORE PROACTIVE ON OUR
INSPECTION PROCESSES AND BEING PROACTIVE WITH BUILDINGS AND ESPECIALLY KNOW OUR PROPERTIES GOING FORWARD AND NOT BEING REACTIVE. I'M ALWAYS A PROACTIVE VERSUS REACTIVE AND I THINK THIS IS A
HUGE LEARNING LESSON FOR THE CITY AND FOR THE COMMUNITY AND HOPEFULLY FOR RESIDENTS TO BE PROACTIVE IN THEIR VOICE AS WELL. SO BUT AGAIN I WILL BE SUPPORTING THIS TONIGHT
BECAUSE I DO BELIEVE THE RESIDENTS DESERVE THIS SO THANK YOU. THANK YOU. COMMISSIONER WOOTEN I'M STILL NOT SURE I HEARD AN ANSWER TO WHETHER OR NOT THE CONTRACTOR
IS WILLING TO BE ON THE HOOK FOR ANY OTHER CHANGES THAT MIGHT OCCUR IN REGARDS TO EXPENSES BEING INCREASED .
CHAIR AND COMMISSIONERS, I'M ERIC WYKES WITH CITY MANAGEMENT, THE NEW PROPERTY MANAGEMENT FOR THE HEIGHTS. WE STARTED BEGINNING OF JULY. WE I DON'T WANT TO SAY WE DO
THIS ALL THE TIME BUT WE DEAL WITH A LOT OF NOISE. WE ARE FAMILIAR WITH THE HIV PROCESS AND ALL OF THAT. ONE OF THE BIG THINGS WE HAVE IS WE WORK EXTENSIVELY WITH A
LOT OF CONTRACTORS THROUGHOUT THE METRO AREA SO WE HAVE A LOT OF PULL SHOULD SOMETHING CHANGE TO GO BACK TO THE CONTRACTOR AND SAY NO, THE COST IS NOT INCREASING, YOU'RE
GOING TO HAVE TO RECOUP THIS. THE BIGGEST PORTION OF IT IS GETTING THIS LOAN THROUGH APPROVED GETTING THE WORK STARTED. I BELIEVE IT WAS KENNY THAT SAID ONCE THEY ORDER THE
PRODUCT THAT'S THE PRICE. IF SIX MONTHS FROM NOW LABOR INCREASES TARIFFS INCREASE AGAIN I HAVE THE CAPABILITY TO GO TO THE VENDOR AND SAY NOT
THE HEIGHTS ISSUE THAT'S A NEW ISSUE. YOU FIGURE IT OUT. THIS IS THE CONTRACT WE SIGNED SO I'M VERY GOOD AT THIS IS THE CONTRACT WE'RE STICKING WITH THE CONTRACT NOW AGAIN, I KNOW YOU HAD MENTIONED EARLIER
ABOUT A CONTINGENCY IF THERE'S THINGS THAT YOU KNOW DON'T AREN'T PLANNED FOR. WE DO HAVE THAT 5% THAT WAS BUILT IN WHICH IS GREAT.
BUT AGAIN, THERE ARE ALWAYS THINGS THAT YOU JUST CAN'T PREDICT THOSE WE WOULD DEAL WITH AS WE COME HOPEFULLY WE DON'T HAVE TO GO INTO THAT 5% CONTINGENCY. BUT WHEN IT COMES TO THE
PRICING, THE CONTRACTOR HOLDING IT WE WILL HOLD THAT CONTRACTOR TO PRICING UNLESS IT'S SOMETHING OUT OF EVERYONE'S CONTROL. IS THAT IN WRITING? WE I THINK WE COULD PROBABLY
GET THAT IN WRITING FROM FROM ALL THE CONTRACTORS. I DON'T THINK THAT WOULD BE A PROBLEM. ALL RIGHT. THANKS. THANK YOU.
THEIR QUESTIONS OR COMMENTS INVITE ANYONE?
I THINK YOU EVERYONE AND NOW WE WILL MOVE ON TO THE VOTING ON THE RESOLUTIONS.
THE FIRST IS RESOLUTION NUMBER 2025 DASH 20 A RESOLUTION APPROVING A DEVELOPMENT AGREEMENT WITH THE CITY OF BLOOMINGTON, MINNESOTA AND THE HEIGHTS CONDOMINIUM
ASSOCIATION WITH RESPECT TO THE HEIGHTS CONDOMINIUM CONDOMINIUM ASSOCIATION HOUSING IMPROVEMENT AREA C SO A MOTION BY COMMISSIONER
WOOTEN SECOND AND A SECOND BY COMMISSIONER COMMISSIONER DOLLINGER ALL IN FAVOR I MOTION PASSES SEVEN ZERO THE
NEXT RESOLUTION NUMBER 2025 DASH 21 A RESOLUTION AUTHORIZING AN INTER FUND LOAN BETWEEN THE CITY OF BLOOMINGTON AND THE HOUSING
AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF BLOOMINGTON FOR THE HEIGHTS CONDOMINIUM ASSOCIATION AND HOUSING IMPROVEMENT AREA
PROJECT WE HAVE A MOTION SOME OF MOTION BY COMMISSIONER DOUBLING HER SECOND AND SECOND BY COMMISSIONER WHO CAME ALL
IN FAVOR I MOTION PASSES SEVEN ZERO AND THE NEXT I FEEL I'M
JUST A REALLY QUICK COMMENT JUST TO CLARIFY MAYBE CAN YOU CAN CLARIFY FOR US THE NEXT STEP THEN IS IT GOES TO THE CITY COUNCIL AND THEN THAT'S ONCE THE COUNCIL APPROVES IT THEN I KNOW THERE WAS
CONFUSION LAST TIME WE DID THIS AND SO I JUST WANT TO MAKE IT REALLY, REALLY CLEAR THAT THIS ISN'T LIKE THE FINAL APPROVAL THAT THE COUNCIL THEN HAS TO APPROVE AND THEN WE'RE GOOD TO GO RIGHT TRACK COMMISSIONERS THANK YOU. YES, THAT'S A GOOD
CLARIFICATION. SO ON AUGUST 21ST NOW THE FULL CITY COUNCIL WILL CONSIDER THE SAME TWO IMS THAT YOU ALL JUST APPROVED THE APPROVAL FOR AN INNER FUND LOAN AND A DEVELOPMENT AGREEMENT
IN ADDITION TO APPROVAL TO ISSUE BONDS AND IF THOSE ITEMS WOULD ALL PASS THEN WE WOULD BE CLEARED TO ENTER INTO THAT DEVELOPMENT AGREEMENT WITH THE HEIGHTS HOA AND ONCE THEY FULFILLED THOSE PREREQUISITES
I TALKED ABOUT THEN THE FINANCING IS AVAILABLE FOR THEM TO BEGIN INCURRING COSTS AND STARTING THEIR PROJECT. THANK YOU. ALL RIGHT.
NEXT ITEM ON THE AGENDA IS DISCUSSION ITEMS AND ADMINISTRATOR UPDATES. YEAH CHAIR AND COMMISSIONERS I JUST HAVE TWO QUICK UPDATES FOR YOU.
ONE IS THAT THE BRING IT HOME AWARD THAT I MENTIONED AT THE LAST MEETING HAS NOW BEEN APPROVED BY MINNESOTA HOUSING SO WE ARE BEING RECOMMENDED FOR $2.6 MILLION FOR THE STATE FUNDED VOUCHER PROGRAM FOR NEXT YEAR.
YOU CAN EXPECT SOME BOARD ACTION TO COME IN SEPTEMBER OR OCTOBER AROUND BUDGET AND THINGS FOR THAT. AND THEN THE NEXT ANNOUNCEMENT IS THAT WE HAVE OUR BOARD RETREAT COMING UP. IT IS NEXT WEDNESDAY, AUGUST
20TH FROM WE'LL ASK YOU TO BE THERE AT NOON AT FIRE STATION ONE WHICH IS ON 95TH STREET OFF NICOLLET AND SO IT'LL BE A FULL AND WILL BE A HALF DAY FROM 12 TO 5 AND THEN THERE'S
A FORM FOR YOU ALL TO FILL OUT IN TERMS OF SOME LOGISTICS FOR THE FOR THE EVENT SO EVERYONE WILL BE ABLE TO MAKE THAT SO GREAT.
THAT'S IT. THAT'S ALL I HAVE FOR YOU TONIGHT. SO WE'RE GETTING AROUND HERE. YES. ALL RIGHT.
WE HAVE REACHED THE END OF OUR AGENDA SO MAY I HAVE A MOTION TO ADJOURN THE TUESDAY, AUGUST 12TH BOARD MEETING? SO MOVED MOVED BY COMMISSIONER
EASY AND SECOND BY COMMISSIONER WHO CAME ALL IN FAVOR. I MOTION PASSES SEVEN ZERO. >> MEETING IS ADJOURNED