WEBVTT METADATA Video-Count: 1 Video-1: youtube.com/watch?v=7gSFrxLLcAY NOTE MEETING SECTIONS: Part 1 (Video ID: 7gSFrxLLcAY): - 00:04:18: Meeting Called to Order, Minutes Approved - 00:04:52: Administrative Activities April 2026 Report and Discussion - 00:06:35: Revised Section 8 and Public Housing Income Limits - 00:08:24: Approval of EDA May 12th, 2026 Claims List - 00:09:33: Discontinuing the Small Business Incentive Grant Program - 00:11:03: Loan Amendment: HADC, Vista Prairie at Ridgeway LLC - 00:14:44: Transfer Funds: Commercial Rehab to Small Business - 00:15:55: Economic Development Activity Report: New Projects - 00:17:36: Public Question: Placer AI Report Costs - 00:17:55: Public Question: Vacant Grid Lots Ownership - 00:18:10: Discussion: Affordable Home Building Costs - 00:18:41: Update on Various Housing Projects In The Community - 00:20:20: Georgia's Ballroom Project and Scooter's Coffee - 00:21:27: Update on Downtown Hotel Project - 00:22:36: Adoption of Economic Development Report and Adjournment Part: 1 1 00:04:18.880 --> 00:04:35.440 Good morning. It is 8 a.m. on Tuesday, May 12th, 2026. I call the Economic Development Authority meeting of New Alm to order. The first item of business is the roll call. And we do have everyone present with or almost all everyone present with a quorum. Item 2.1, the EDA 2 00:04:35.440 --> 00:04:52.960 April 14th, 2026 minutes. I'll make a motion to approve the minutes. Second. We have a motion and a second. Any further discussion? All in favor say I. >> I. Opposed. Motion carries. Item 3.1, 3 00:04:52.960 --> 00:05:08.479 administrative activities, April 2026. >> Good morning, president, commissioners. You have the report in your packet. Um, I'll just highlight a couple items. Um this isn't on the report, but I wanted to mention that Rebound Partners had 4 00:05:08.479 --> 00:05:25.759 their first um investor meeting. Um and uh for the investors in the Garden Terrace Apartments, um they paid their first dividend. And um for the um senior living project, they reported that that is on budget and on schedule and they 5 00:05:25.759 --> 00:05:42.320 anticipate um completion in February. So um just wanted to give you an update on that project. We are an investor in the senior housing project but not the garden terrace apartments. Um so we did not receive a dividend for 6 00:05:42.320 --> 00:05:58.160 that reason. Um under the home buyer assistance loan program uh report one loan closed um around $6,100 and a new application was received um under the get ready loan program. Um, 7 00:05:58.160 --> 00:06:18.160 we did get an early payoff of a loan due to the sale of the property. Um, and that's all I wanted to highlight. So, end of report, but happy to answer any questions. If there's not any questions, I'll make a motion to accept the Economic 8 00:06:18.160 --> 00:06:35.039 Development Authority administrative activities for the month of April 2026. >> Second. >> We have a motion and a second. Any further discussion or questions? All in favor say I. >> I. >> Opposed. Motion carries. Item 4.1 9 00:06:35.039 --> 00:06:52.880 section 8 HCV and public housing revised income limits. Right. President, commissioners, this is um something we uh review on an annual basis. Um HUD um is required or the Department of Housing and Urban Development is required by law to update 10 00:06:52.880 --> 00:07:09.520 the income limits annually. It's usually done in the spring. Um, and we use those income limits to determine the eligibility of um, applicants for the rental assistance programs that we administer. So, we use these for both the public housing program as well as 11 00:07:09.520 --> 00:07:25.280 the section 8 housing choice voucher program. Um, I'll note the median income for a household of four in Brown County actually decreased by about $1,000. Um, I've never seen it this happen where 12 00:07:25.280 --> 00:07:42.240 the median income decreased, but all of the income limits across the board increased. I don't know how they calculate this. Um, we just um have to use what they publish. Um, but it does need to be formally approved by the board and I've got the um current and 13 00:07:42.240 --> 00:08:06.479 the revised income limits on the report for your um review. And the new income limits were effective May 1st. You answered my biggest question of why the income went down, but they're still increasing. I've never I've never seen that. I don't understand, but it is what 14 00:08:06.479 --> 00:08:24.560 it is. >> I'll make a motion to adopt the revised income limits for section 8 housing and section 8 housing choice voucher and public housing programs effective May 1st, 2026. A second. We have a motion and a second. Any further discussion? 15 00:08:24.560 --> 00:08:44.000 All in favor say I. >> I. >> I. >> Opposed. Motion carries. Item 5.1 EDA May 12th, 2026 claims list. I reviewed it. Uh I didn't have any questions. So I'll make a motion to 16 00:08:44.000 --> 00:09:01.120 approve the EDA May 12th, 2026 claims list. >> Second. We have a motion. >> I just Sorry. I just had one question. >> Um it's probably not what we um approved last time that it says Mertz Painting on there. >> Uh I thought we were hiring Deets or is 17 00:09:01.120 --> 00:09:16.320 that just a different project? >> Oh, um Mertz Painting does our like apartment turnovers. Okay. Um >> the Deets painting project, that's a larger project doing all the common areas throughout the building. Um, so 18 00:09:16.320 --> 00:09:33.120 yes, two separate projects. >> Okay, we have a motion and a second. Any further questions or discussion? >> All in favor say I. >> I. Opposed. >> Motion carries. Item 6.1, small business 19 00:09:33.120 --> 00:09:50.880 incentive grant program. >> All right. Uh, president and commissioners, um, as you recall, we had a work session after the April meeting and we, um, were reviewing this program for, um, potential changes and after a 20 00:09:50.880 --> 00:10:08.240 thorough discussion, the consensus was, um, that we wanted to discontinue the program. Um, so that is the action I've brought before you today um to discontinue the program. the um five grants that were awarded in 2026 will be 21 00:10:08.240 --> 00:10:27.360 paid. Um so 2026 will be the final year for the program if this item is approved. >> Will we have a separate work session then? Uh we talked about maybe creating something new. 22 00:10:27.360 --> 00:10:45.920 >> Yes, I believe I have that scheduled for um December's work session. So, we'll go um finish reviewing all of the programs and then December we'll be looking at do we need to create any new programs. Okay. >> Okay. I'll make a motion to approve the 23 00:10:45.920 --> 00:11:03.519 discontinuation of the small business incentive grant program. >> Second. >> We have a motion and a second. Any further discussion? It served its purpose well. >> All in favor say I. I. >> I. opposed. Motion carries. 24 00:11:03.519 --> 00:11:20.160 Item 6.2, HADC, Vista Prairie at Ridgeway LLC loan amendment. Um, President and Commissioners, we received uh requests to approve a loan amendment for the um loan that the EDA 25 00:11:20.160 --> 00:11:35.279 gave to HDAC. Um, this is a company that in the late 90s built the first assisted living in Newm Ridgeway on German. It's on um 7th South and German Street. Um, and every 26 00:11:35.279 --> 00:11:50.640 now and then, I think this is maybe the second or third time we've had to make a change to that loan. Um, in my time here, um, this is a pretty simple change. Um it looks like their company is changing their fiscal year and so um 27 00:11:50.640 --> 00:12:06.880 needed to amend the um loan agreement with us. Um we did send it to the city attorney to review. He um felt that there was no substant substantive change to the um loan 28 00:12:06.880 --> 00:12:24.320 agreement. Um it's a pretty simple change. So he was fine with recommending um approval and giving us author authorization to execute the um loan amendment. This action is also requesting um approval um giving 29 00:12:24.320 --> 00:12:40.240 authorization for the executive director to sign any other um nonsubstantive changes that may come through so we don't need to bring it to the board again. Um, but anything you know that would change the loan of course would 30 00:12:40.240 --> 00:12:56.000 come to the board for approval, but minor things like this, um, Chris would just be able to sign and send back right away. Um, so I just wanted to be clear that you're, this is asking you to approve the amendment to the loan agreement as well as giving Chris the 31 00:12:56.000 --> 00:13:19.200 authority to sign small changes like this in the future without board approval. What's the term of the loan? >> It should be it should be um fair close to being paid off. I can find that out and send that to send that to 32 00:13:19.200 --> 00:13:34.480 the board. Yeah, I >> I think this was >> I'm guessing it's maybe a 30-year and it's got to be close to coming to the end, but we weren't here when the loan was originated. So, we'd have to do some 33 00:13:34.480 --> 00:13:50.959 homework to find that out. >> Yeah, I'll talk with Mr. Schnoick who probably was here when the loan was started. So, >> and I'll email that out to the board. >> Do we still do loans of that caliber, like that length? 34 00:13:50.959 --> 00:14:09.040 We haven't since I've worked here. >> Longest we do is 10 year. >> Yeah, that's >> 7 to 10 years is usually the longest ones we'll do that since I've been here. >> All right. Thank you. >> So this this is going from calendar year 35 00:14:09.040 --> 00:14:28.480 to federal fiscal year. Um, I'll make a motion to authorize executive director to execute the first amendment to loan agreement for HDAC/Vista Prairie at Ridgeway LLC and authorize the executive director to administratively approve and execute 36 00:14:28.480 --> 00:14:44.480 future technical or non-substantative amendments to the loan agreement that do not materially alter the agreement. >> Second. We have a motion and a second. Any further discussion or questions? All in favor say I. >> I. 37 00:14:44.480 --> 00:15:01.680 >> I. Opposed. Motion carries. Item 7.1, transfer funds from commercial rehab loan fund to small business loan fund. Um, commissioners, this is just a final entry to make that separation of that commercial rehab and small business program. When the balances were 38 00:15:01.680 --> 00:15:21.440 transferred for the small business loans out into the new fund, it creates a cash transaction in the background. I just need authorization to have that transfer done. Basically, paperwork more than anything. I'll offer a resolution to transfer the 39 00:15:21.440 --> 00:15:40.959 $119,995.81 from the commercial rehab loan fund 255 to the small business loan fund 256. >> Second. >> We have a resolution and a second. Any further discussion or questions? Director Bgole, please call the role. 40 00:15:40.959 --> 00:15:55.440 Right. >> Commissioner Black, >> yes. >> Commissioner Reinhardt Caulk, >> yes. >> Commissioner Bker, >> yes. >> Commissioner Lee, >> yes. >> Commissioner Hen, >> yes. >> President Mark, >> yes. Motion carry or resolution carries. Item 8.1, economic development activity 41 00:15:55.440 --> 00:16:11.759 report. >> All right, President, commissioners. Um, just going through the report. Um, the new partnership met and had a discussion on our vacant grid lots in the city and their potential for development of new single family homes. I wasn't at the 42 00:16:11.759 --> 00:16:28.480 meeting, but um, two representatives from Design Home Center were invited to attend the meeting and be part of that discussion. So, um, we'll see what happens. Um the child care team, I'll just report that we hosted our annual 43 00:16:28.480 --> 00:16:43.839 training event for the child care providers and we had 53 providers attend the event this year. Uh one application was received for a commercial property rehab loan. Um and one small business loan closed in the 44 00:16:43.839 --> 00:17:02.240 amount of um $13,400. and that was our first loan with the new um changes we've made to that program. Um under the small business grant program um we notified all the applicants of their status whether they 45 00:17:02.240 --> 00:17:19.120 were approved or or not. Um and we have started paying out those grants and they should all be paid out um by the end of this month. Um, and then I'll just note that I had my first request from one of our local 46 00:17:19.120 --> 00:17:36.400 businesses for some Placer AI reports. So, I provided those um to them. Um, and I expect more requests like that to come in as word gets around that we have that data. 47 00:17:36.400 --> 00:17:55.919 >> Is there a cost for them to get that or you just we just provide that? It's a service we provide for free to our businesses. >> For the vacant grid lots, are those city- owned, private, a mix? >> They're privately owned. >> Mostly private. Yeah. >> Okay. 48 00:17:55.919 --> 00:18:10.960 >> Was eye opening. One of the biggest things from the takeaway was take away from that meeting was building an affordable home is going to start you around $300,000. is and that was um where we started was 49 00:18:10.960 --> 00:18:26.080 getting um material costs from Menard's kind of hey we'll just here's all the materials for a home but that didn't include basement work any of the electrical any of the plumbing so while it was roughly 80,000 to get all the 50 00:18:26.080 --> 00:18:41.679 materials for the home after getting all the construction costs labor it was still about 300,000 so kind of crushed those dreams of building a normalsiz home uh on a lot like that. 51 00:18:41.679 --> 00:18:57.840 >> Um I guess before we uh close this report, I just wanted to give an update on the various housing projects that are going on in the community. Um Keepers um who's developing the Highland Apartments up by the high school. Um 52 00:18:57.840 --> 00:19:12.640 they're finishing up their first two buildings and they are anticipating to start leasing in August. Um and they've already submitted plans for their next two buildings. So, they plan to just keep going and um get that all four um 53 00:19:12.640 --> 00:19:30.160 built and have that project finished. So, that's um exciting. Um Land Haven is the Barn Dominion project. They've started earthwork with utilities um and they expect a few to get built this year. River Haven has submitted their um 54 00:19:30.160 --> 00:19:45.600 plans for ground work. So, they're planning to do some grading um this year. Um, I already reported on the senior housing project um down by Garden Terrace. Um, they're on schedule. Their 55 00:19:45.600 --> 00:20:03.440 foundation should be going in soon. Um, and I'll let Am I missing? Oh, am I missing any? >> Tiny homes. >> Tiny homes. >> Who? Tiny homes. >> Oh, tiny homes. Um, yeah, those should be starting this month with um getting the foundations in on the first two. And 56 00:20:03.440 --> 00:20:20.559 um Steve has reported that they plan to go ahead with the uh remaining is it >> 12 or 13? >> 13. Yeah, I think there's 15 total. So they're going to do the first two and then immediately move forward on building the rest um is the plan. And 57 00:20:20.559 --> 00:20:37.600 I'll let Chris report on a meeting he recently had with the developer for Georgia's Ballroom. >> Yeah. So, they're they're plugging away. Um couple design changes um on their end. Um but they're going through their investor phase right now. Um trying to get some investors uh in the project. Uh 58 00:20:37.600 --> 00:20:53.440 and then uh if they can keep on plugging a plugging away, then earth work most likely will take place this this year. And if they can get it done soon enough, they might start with footing foundations. But at least earth work potentially will be get will get done 59 00:20:53.440 --> 00:21:10.320 this year. Is that the same developer as before or is this a new developer? >> Same one. Yep. >> And then a non-housing project, but uh another project is the lots that the EDA 60 00:21:10.320 --> 00:21:27.039 sold next to Broadway House um has got their foundation in. So, they're moving ahead and that's where the Scooters Coffee will be and as well as two other businesses. >> How about the mall? I haven't heard about that for a long time. >> It's plugging away. We won't know 61 00:21:27.039 --> 00:21:42.799 anything until next year. So, >> okay. >> And then the other developer we've been continuing talks with is a developer looking at doing a downtown hotel and he's still um moving forward and planning that project. So, we'll see if 62 00:21:42.799 --> 00:21:59.520 it comes to fruition. Does the developer have experience like a lot of experience doing this kind of thing or is this one of these things where somebody has a pet project that they want to try to fill a need with? >> I'll let Chris answer that. >> Probably not with a hotel. No, but they're bringing in other people that 63 00:21:59.520 --> 00:22:14.159 that have done hotels. So, >> um, and is that through um like Rebound Partners? Were they uncovered through them or anything like that or how did we connect with that developer? >> This is person who owns the property. 64 00:22:14.159 --> 00:22:36.480 Okay. Yeah, it's a local guy. Um, I just forgot what I was going to say. Never mind. That's all. I don't have any other questions. If there's no other questions, I'll uh make a motion to accept the economic 65 00:22:36.480 --> 00:22:53.200 development activity report for April 2026 activities. >> Second. >> We have a motion and a second. Any further discussion or questions? All in favor say I. >> I. Opposed. Motion carries. There being no further items on the agenda, this 66 00:22:53.200 --> 00:22:56.679 meeting is adjourned.