Minutes Housing Trust Fund 2 1 05
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MINUTES OF THE HOUSING COMMISSION
TRUST FUND COMMITTEE
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Chairperson Jim Holz called the meeting to order at 7:30 a.m. following staffass\.n'ance of
compliance with Iowa Open Meeting Law. .
February 1,2005
7:30 a.m.
Housing and Community Development Department
1805 Central Avenue, Dubuque IA 52001
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DATE:
TIME:
PLACE:
. Committee Members Present: Doris Hingtgen
Harry Neustadt
John Walsh
Jim Holz
Char Eddy
(/.)
Staff Present:
David Harris
Jean Noel
Certification of Minutes: 23 November. 2004 Trust Fund Committee Meetina
Harry Neustadt moved to approve the 23 November, 2004 Housing Trust Fund meeting
minutes. John Walsh seconded. Roll Call. Jim Holz - abstain, Char Eddy - abstain. All
others present in favor. Motion passed.
Correspondence / Public Input
None
Old Business
Status Report: Washington Neighborhood Strategy
David reviewed the memo that was sent to the City Council summarizing the planning of
a revitalization strategy for the Washington Street Neighborhood. He discussed the Housing
Department's request for a new 5-year, $100,000 downpayment assistance program
proposed in the FY06 budget. The program will be for first time homebuyers earning
80-100% area median income. He feels that promoting homeownership and encouraging a
broader mix of household incomes will be an asset in revitalizing downtown neighborhoods.
David mentioned that the Iowa Finance Authority Trust Fund application is due March 14,
2005. IFA will notify previously funded local trust funds if there will be an opportunity to apply
for remaining funds.
New Business
Gateways to Home Request for Financial Assistance to Purchase Washington
Neighborhood Center
Doris Hingtgen provided financial statements and inspection reports to the Committee on the
purchase of the Washington Neighborhood Shelter/Crossover Foundation property located at
382 E. 21 sI on behalf of Gateways to Home. The sale price of the property is $55,000 with
an estimated $80-85,000 in rehabilitation costs. Gateways is requesting $30,000 to
purchase the property. David outlined City funds available to rental property owners for
rehabilitation assistance. Upon discussion, the Committee decided they would like more
information regarding cash flow from Gateways. A meeting has been scheduled for March 7,
2005 to discuss additional information.
Information Sharina
David provided a status report on the Mid America Housing Partnership Town Homes Project
at Eagle Valley Subdivision. MAHP will hear on their HOME/ADDI application in March.
They are currently developing floor plans, working with Midwest Homes, for modular units.
Adiournment
There being no further business to come before the Committee, Char Eddy moved to
adjourn. John Walsh seconded. Roll Call. All present in favor. Motion passed. Meeting
was adjourned at 8:25 a.m.
utes taken by:
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an Noel
Housing Secretary
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David Harris
Department Director
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