Minutes Housing Com. Truist Fund 2 14 05
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MINUTES OF THE HOUSING COMMISSION
TRUST FUND COMMITTEE
DATE:
TIME:
PLACE:
February 14, 2005
7:30 a.m.
Housing and Community Development Department
1805 Central Avenue, Dubuque IA 52001
Chairperson Jim Holz called the meeting to order at 7:30 a.m. following staff assurance of
compliance with Iowa Open Meeting Law.
Committee Members Present: Doris Hingtgen
Harry Neustadt
John Walsh
Jim Holz
Char Eddy
Staff Present:
David Harris
Jean Noel
Joleen Patterson
Certification of Minutes: 1 February. 2005 Trust Fund Committee Meetina
John Walsh moved to approve the 1 February, 2005 Housing Trust Fund meeting minutes.
Char Eddy seconded. Roll Call. All present in favor. Motion passed.
Correspondence / Public Input
None
Old Business
Request from Gateways to Home for Financial Assistance
David reviewed a cash flow analysis provided on behalf of Gateways to Home explaining
their financial status on the purchase and rehabilitation costs of the Washington
Neighborhood Shelter/Crossover Foundation property located at 382 E. 218. Gateways has
increased their request from $30,000 to $50,000 for the purchase of this property. John
Walsh moved to approve $30,000 for the purchase of the Washington Street Neighborhood
Shelter. Harry Neustadt seconded. Doris Hingtgen - abstain. All others present in favor.
Motion passed.
New Business
IFA Housing Trust Fund Application
David informed the Committee that grant funds in the amount of $200,000 are available for a
second round of applications, through the Iowa Finance Authority for local trust funds which
received awards last year. He reviewed the program guidelines, eligible uses and scoring
process for the application. He also provided sections from the Housing Assistance Plan,
which discussed housing needs and proposed activities, such as the Washington Street
Revitalization Project submitted as part of the certification process last year.
After discussion, David summarized a concept of applying for the full $200,000 with 30% of
the funds going to rental projects, (part of that being partnership with Gateways to
Home/CHDO) and 70% to homeownership as a revolving loan fund. Jim Holz added that the
funds be made as grants for persons earning 30% below median income. John Walsh
suggested partnerships with John Gronen, various contractors and non-profit agencies in
purchasing and rehabbing available homes in the Washington Neighborhood and provide
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homebuyer assistance and educational training to low-income families. The Committee
agreed that encouraging homeownership will be an important part of neighborhood
revitalization. Deadline for the IFA Trust Fund application is March 14, 2005.
Information Sharina
The next Trust Fund Meeting is set for March 7, 2005 at 7:30 a.m. at the Housing and
Community Development Department.
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 8:10 a.m.
Minutes taken by:
Jean Noel
Housing Secretary
Respectfully submitted by:
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David Harris
Department Director