Good morning. It is 8 a.m. on Tuesday, March 10th, 2026. I call the Economic Development Authority meeting of new alm to order. Item number one is roll call. We do have a quorum present. Item 2.1 is
the EDA February 10th, 2026 minutes. Motion >> to approve. >> A second. >> We have a motion and a second. Any further discussion? All in favor say I. >> I. >> Opposed? Motion carries. Item 3.1, administrative activities for February 2026.
>> Right. Good morning, Madame President, commissioners. Uh, you have the report in your packet. Um, I'll just note a few items. Um, two home buyer assistance loan applications were received during the month of February. One get it ready
loan closed in the amount of $40,000 and one multifamily rental rehab loan closed in the amount of $50,000. Um, that's the end of the staff report, but I'm happy to answer any questions
you may have. I just note that it was a good month that word's getting out about these programs. >> The notes funds available is that after the um the 40,000 and the 50,000. >> Yes, that is the remaining um amount
available. >> Mhm. >> Okay. I'll make a motion to approve the administrative activities report for February 2026. We have a motion and a second. Any further discussion? All in favor say I. I.
>> I. Opposed. Motion carries. Item 4.1, utility allowance schedules for section 8, housing choice voucher program. Right. President, commissioners, this is an item we review on an annual basis as required by HUD. Um,
we collect all the current utility rates from the various utility companies in Brown County. Um, and um, plug those into our little spreadsheet to get the new utility allowances. Um, I'll just note um, there
weren't any um, big major changes overall. Um, Sleepy and Springfield had small increases in their water and sewer rates. Natural gas rates increased slightly for Sleepy Springfield and the rural Brown
County areas and um LP rates decreased slightly and electric and oil rates increase slightly overall. Um, seeing no comments or questions, I will make a motion to approve the
revised utility allowance schedules for the section 8 housing choice voucher program effective May 1st, 2026. Second. We have a motion and a second. Any further discussion? All in favor say I. >> I. >> I. Opposed. Motion carries. Item 5.1,
Broadway House Parking Lot Repair Project. All right. This is the first of three projects I'm proposing today. Um, I just wanted to mention that um in our 2024 capital fund uh grant, we currently have
a balance of $113,000. um and those funds need to be obligated by May 5th. And in order to obligate the funds, we have to have projects um in place. So, I'm um proposing a few
projects that have um been on our list of things to do um according to our needs assessment that we had done a few years ago. Um, and then when those bids come in, if there's any remaining balance in this grant, I would just um
transfer that into the operating fund so that we meet that obligation date of May 5th. And then um I'll note we still have our 2025 grant um and that's just over $139,000 and we will be receiving a 2026 grant.
So the money keeps coming in. So, we need to, you know, continue to do projects to improve our properties and get that money spent by the deadline um so we don't lose the funding. Um so, for this first project, um I had the city engineer take a look at the Broadway House parking lot and he does recommend
a a crack sealing patching and seal coat um application to extend the life of the parking lot. It was fully repaved in 2011, and this would be the first time we're doing any repairs. So, um it's just time to um give it a little love
and um have it last a little longer so we don't have to do a full repave sooner than necessary. >> A motion to approve the Broadway House parking lot repair project and authorize staff to solicit bids and set a bid opening date. >> Second.
>> We have a motion and a second. Any further discussion? All in favor say I. >> I. >> Opposed? Motion carries. Item 5.2, Broadway House Interior Improvement Project. >> All right. This is the second project I'm proposing um for Broadway House
Apartments. Um we replaced the carpet in the common areas and painted the um common area walls. in um 2017. Um obviously the building gets a lot of wear and tear in the common areas um hallways, community room, lobby, um
those sorts of um laundry room. Um I did meet with the tenants earlier this month to talk about the projects we were proposing and they brought up the option of um replacing the carpet with a hard surface flooring in the common areas.
Um, we've been doing that in the apartments for several years and, um, the tenants like it. Um, it's easier to keep clean. Um, you know, with the carpet, we usually have them professionally cleaned every spring and
then we do some spot cleaning um, as needed throughout the year for spills and things like that. um they felt not only for um having it be easier to keep clean, but also um they appreciate that not having carpet reduces issues with indoor allergens with people with um
respiratory issues and allergies. Um that's one of the reasons we stopped putting carpet in the apartments. Um so I I will explore both options, kind of compare prices. Um, if I do a hard surface floor, I'll um find something that's um going to be like slip
resistant so that when it's mopped, we don't have slips and falls. Um, that would be my major concern with it. Um, and then I'll bring back the bids to you for approval um once we decide which way we want to go and um have the pricing
information. So, I'll make a motion to approve the Broadway House interior improvement project and authorize staff to solicit bids and set bid opening date. >> Second. >> We have a motion and a second. Any further discussion?
All in favor say I. >> I. >> Opposed? Motion carries. And item 5.3, the third project, family unit improvement project. >> All right. for this project. Um for our 10 um rental houses that are um
scattered throughout New Alm, um on the physical needs assessment, they recommended adding some additional insulation in the attic of the houses as well as replacing the gutters and downspouts. Um so I I just combined that into one project for um
to be done all at the same time. I'll make a motion to approve the family unit improvement project and authorize staff to solicit bids and set bid opening date. Second, >> we have a motion and a second. Any further discussion? >> All in favor say I.
>> I. Opposed? Motion carries. Item 5.4 EDA March 10th, 2026 claims list. >> Um >> just one minor question on it. the the one bill for the garbage removal is that from that a month or two ago you told us
about that residence we had to get rid of everything. >> Yeah, I think last month. >> No, it would have been in January. I think we talked about that. Um so we had to store the items in the house for the month of February and then um beginning of March we were able to go in and and
fully empty out the house, the shed, the yard. Um yeah, we we had to completely empty it out. They the tenants did have the opportunity to come back during the month of February to get anything they want and they did make three trips um with a pickup truck and um took you know
additional items but it still was um very full. Um so and that will get build back to the tenant and um if they don't pay it I can put them into revenue recapture and I have six years to collect off their tax return. So we
usually do get paid back. It just takes time. >> All right. Thank you. >> And I I was just going to mention that besides that large bill, there were um a lot of repair bills higher than normal because we were preparing for our HUD inspection which was performed on
February 18th and we are waiting to receive our final score. Um the biggest issue that we had was um and now we know what to look for. They completely changed the inspection um
guidelines, protocol, what whatever you want to call it. So, this was our first time through the new inspection and the biggest issue we had is tenants storing things too close to the sprinkler head in their closets. So, their closets have a shelf and then they put things on that
shelf and it gets if it's within 18 in of that sprinkler head, we get marked for a deficiency. And we had that in nine of the 18 apartments that they went in. So they inspected 18 apartments at Broadway House and they inspected two of our
houses. And that was the issue where we're going to lose the most points. And so we will be laser focused on that next time when we're preparing for an inspection. >> There are no other questions. Is a motion to approve the EDA March 10, 2026
claims list? >> Second. >> Have a motion and a second. Any further discussion? All in favor say I. >> I. >> Opposed? >> Motion carries. Um item 6.1, draft public housing agency annual plan
for fiscal year 2026. Okay. Um I think I opened the wrong one. Give me a second. There we go. Um, so HUD requires us to um prepare an
annual plan every year and then a five-year plan every fifth year. Um, so last year we did a five-year plan and then this is the first annual plan in that five years. Um so the purpose of the plan is to provide
framework for local accountability and a source for program participants in the general public to locate our policies, rules and requirements concerning our operations, programs and services. Um HUD outlines the information that is
to be gathered and required in um and that the plan and related documents be made available locally. Um, so all of those documents are available in the housing office here at city hall for anyone that would like to review them. Um, we're required to have um tenant
meetings. Um, and like I said, I met with the Broadway House tenants last week. Um, we sent letters to um the renters in our family unit rental houses as well as the section 8 participants. Um, no one from those groups attended
the meeting. Um, I'll just note um progress made um from our 5-year plan during year two. Um, the EDA completed a strategic plan. Um, we continued being an active member of the
Brown County homeless response team. Um, we continue administering loans to help first-time home buyers achieve home ownership. And we continue administering loans to single family property owners to improve and preserve um our existing
housing units as well as a loan program to multifamily property uh rental property owners um to add, improve, and preserve our existing rental housing units. Um and then we received 21 tenant protection vouchers
for the tenants at Sunset Apartments. Um so that is the progress we made in the last year. Um the draft template um is attached for your review. So, uh, one change is that we still have 50 public
housing units, but we now have 204 vouchers for the section 8 program with the additional vouchers we received for both Linderhoff and Sunset apartments. We've gone from 127 to 204. So, now we have a combined total of 254
assisted rental units for New Almond Brown County. Um, and then after we have our public hearing next month, I'll be able to complete this form and then submit it to HUD. I'll make a motion to receive the draft public housing agency annual plan for
the fiscal year 2026. >> Second. >> We have a motion and a second. Any further discussion? All in favor say I. >> I. >> I. Opposed. Motion carries. The next two items on the agenda come from our
February work session. Item 6.2 is the commercial rehab loan program revisions. >> All right. Madame President, commissioners, um as the president mentioned, we had a work session in February to review the commercial
property rehab loan program and we've um made the changes based on feedback received at that meeting. Um I'll just run through the changes. Um I I've attached a redlinined copy and then a clean copy for you. Um, so we changed
the wording throughout the document, changing loan amount or loan value to project cost. Um, and then change the maximum loan limit to $74,999. Um, that's to avoid the additional reporting that's required for loans of
$75,000 and above. Um, in section 1D, we we removed the last sentence allowing the longer amortization period for an additional up to an additional 5 years. We decided to
make it a 10-year maximum. Section 1H, um, we updated the language to allow applicant to self-fund their half of the project if the total project cost is $50,000 or less.
Um, under section 2D, we um updated that to remove the potential for the longer amortization period. Section 3C, we added language for loans. Um, if there is a loan with no bank
involvement, we had to change the language there. Um, section 4A updated the location to receive the application from second floor to first floor of city hall. Um, in section D, updated language for loans with no bank involvement and added
language to include the credit report fee and minimum credit score of 650. So for um applicants that are self-funding, I I would run the credit check and make sure they have that minimum credit score.
Um, and then eliminated the requirement for EDA board approval for loans of $50,000 or more. And then um sections GH and I all had to have language added for loans having no
bank involvement. I believe we got all of the changes um correct in here, but if I am mistaken or miss something, let me know. That's what I had in my notes.
I reviewed it. I have a question now that we see the updated um definitely you got everything that we had said now that we are moving to project costs rather than loan cost. Do we need to define
what constitutes a project cost? I mean can somebody just come and say here's what I think this is going to cost. Do we need to have some kind of link? excuse me, language in here that defines what we will accept for estimating a project cost.
>> I think that is in here. I just have to find where they have to submit um formal quotes from a contractor and there are >> eligible um improvements listed in section 2A.
Um let me see. I know somewhere in here it might be under application process >> and it minimum of two bids. >> Yep. They have to Yep. It's in um section 4F.
Applicants should receive at least two bids on projects. So I I go off the bids to come up with the total project cost. >> We allow financing of the closing costs. Is that part of the project cost? I don't have a preference either way,
but I don't know if we need to. >> Is this for a rehab? So, would there be a closing? Well, maybe >> you're going to have mortgage cost and registry tax. >> Yeah. >> Um >> I just don't know if we need to specify that or not.
>> I don't think to be honest, I don't think I've ever included that on a loan. I just um add up the quotes they send in. So, I don't think that's ever been included. I'm not I wouldn't be opposed to it, but I don't think anyone's ever
asked to have that included. Would we want to add that as an eligible cost in here if it isn't in here already? I don't >> I would say if you haven't really been asked, you know, if I mean, if they're
doing a project, they should at least be able to cover kind of the basic closing fees. >> So, >> I'm content to stay with just project costs. It's cleaner. >> Agreed. Okay.
Well, that being said, if there's no additional comments or questions, I think staff did a good job with updating based on what we did in the work session. So, I will make a motion to accept the revised commercial rehabilitation loan program policy.
>> Second. >> We have a motion and a second. Any further discussion or questions? All in favor say I. I. I opposed. Motion carries. Item 6.3, small business loan
program revisions. >> All right. Um, this is the other program that was reviewed at our work session in February. Um, we didn't make a lot of changes to this program, but I'll go through the changes we did make. Um, for
one thing, I we didn't talk about this in the work session, but I removed sections one and two. It's it's information we don't have on any of our other loan programs. It's just I don't think it's really necessary to have the history and all that. Um section 3B
was removed. Um section 4 A we increased the maximum loan amount from $10,000 to $15,000. Section 4B, we increased the interest rate from 1% to 2% to make it consistent with the other EDA loan programs. And
section D was removed. Um, section 5A, we added the requirement that the business must be open at least one year before receiving this loan. Um, section 5D added language to include
the requirement that they have a minimum credit score of $650 or 650, sorry. Section 5E removed um, rent and utilities as eligible expenses for the loan.
Um, removed section 5H. under section 5 I added promisory note and changed review committee to economic development director um and removed um section J
or item J under section five A updated location to receive application and removed the last sentence in that area. Item B added the credit report fee,
removed item C, removed unnecessary language in item D, and in item E, um, added that we require the personal guarantee and added the UCCC filing language for loans that are
being used for equipment purchases. Um and then under um budgetary and fiscal issues um this this program has been um administered out of the same fund as the commercial rehab loan
program. Um we would like to split those into two unique funds. Um and we talked about that at the work session. Um staff can work with the finance office to create the new create and manage the new fund. Um, all current small business
loans would be transferred to the new fund and any future loan payments coming in would be made available to support new applicants for um, small business loans. Um, in addition, we recommend transferring $15,000 from the existing
fund to the new fund so that from the start we have sufficient funding available to support at least one loan application so that we don't have to wait to build up funds. Um, cuz that could take several months.
Any questions or comments? >> Nobody's got any questions. I'll motion to accept the revised small business loan program policy. >> Second. >> We have a motion and a second. Any further discussion? All in favor say I. >> I. >> I.
>> Opposed? Motion carries. Item 7.1, economic development activity report. >> All right. Um during the month of February, um I wasn't at the new home partnership meeting last month, but they
had a discussion on the um combined efforts between the EDA chamber and new um to complete 150 business visits this year um with each entity um taking a list of 50 businesses to meet with. and we've all um gotten started on those um
visits um and hopefully we'll hit our goal by the end of the year. Um the child care team uh we have the training event coming up in April. Um to date or as of the date of this report, we had 26 providers registered. Um but
registration is open through April 3rd. So we expect that number to increase as we get closer to the deadline. Um, under the small business grant program, the application window is open through the end of March. Um, to date we have received six applications for that
program. Um, and then I'll just note that I gave a presentation to the Lions Club. Um, they were interested in all the various housing projects happening in town and um, we do have quite a few. So I gave a PowerPoint presentation on that and
there I mean there's a lot of interest in there was a lot of questions. They were a very captive audience. Um they they want to know what's going on with all these projects. So that was a fun um opportunity to get
um correct information out there and maybe um quash some of the misinformation that's out there. So, um, that's the end of report. >> I'll make a motion to accept the economic development activity report for
February 2026. >> Second. >> We have a motion and a second. Any further discussion? All in favor say I. I. >> Opposed? Motion carries. There being no further items on the agenda, this meeting is adjourned.