Minutes Housing Trust F 2 22 02MINUTES OF THE HOUSING COMMISSION
TRUST FUND COMMITTEE
DATE:
TIME:
PLACE:
February 22, 2002
7:30 a.m.
Housing & Community Development Department
1805 Central, Dubuque IA 52001
Chairperson Jim Holz called the meeting to order at 7:32 a.m. following staff assurance
of compliance with Iowa Open Meeting Law.
Committee Members Present: Jim Holz Doris Hingtgen John Henning
(Conference Call) John Walsh Harry Neustadt
Public Present:
Staff Present:
Len Decker- Loras College
David Harris Jean Noel
Joleen Patterson
Review and Certification of Min,_~e~ of 24 January 2002 Meeting
John Walsh moved to approve the 24 January 2002 Housing Trust Fund Committee minutes.
John Henning seconded. Roll Call. All present in favor. Motion passed.
Correspondence I Public Input
None.
Old Business
Discussion: Factors Influencing Rental Vacancies
Dr. Len Decker, Lofts Center for Business & Social Research
Len Decker presented various concerns that were discussed with David and the Committee
regarding high vacancy rates in the downtown area. The Committee asked Len to design a
questionnaire that could be sent to tenants regarding the reasons they moved in or moved
out. They suggested the survey also be sent to realtors, landlords targeting the parts of town
with the highest vacancy rates.
New Business
Responses to Request for Proposals:
Local Housing Assistance Program
The Committee reviewed the four applications that were submitted for Local Housing
Assistance Program funds from the Iowa Department of Economic Development (IDED).
The four proposals were received from three developers:
James Kress proposed construction of six attached condominium homes, located off
Tanzanite Drive in the Emerald Acres subdivision. These were to be sold at $85,000. The
LHAP funds, in the amount of $175,000, were requested as a grant, toward a total project
cost of $370,000.
Callahan Construction submitted 2 proposals. One was for construction of five single family
homes, selling for $130,000 each. $500,000 was requested, as part of a $650,000 project.
The applicant requested funds as a 0% loan, with $100,000 ~rapayments" to be made after
sale of each home, to a revolving loan fund. This fund would then be continuously recycled
by the developer for additional similar new home construction, until the subdivision would be
built out, at which time the funds would be fully repaid.
The second application proposed construction of a 12-plex apartment building, to be rented
at HUD Fair Market Rents to Section 8 Program-eligible households. The LHAP funds were
requested in the amount of $500,000, toward a project cost of $650,000, as a 0%, 15-year
loan.
Scott and Dawn Potter requested a $250,000 project to build a new 19 room single room
occupancy (SRO) facility. This would be constructed on Garfield Avenue, adjacent to his
Davis Place SRO recently completed with the assistance of a City-sponsored LHAP grant
last year. The Potters would own and operate the facility for lower-income single men, with
rents at $250 per month.
The Committee unanimously recommended the Potter application for construction of a 19
room single room occupancy (SRO) facility on Garfield Avenue. They requested the City
apply for Loca Housing Assistance Program funds in the amount of $250,000 to assist this
project.
Information Sharing
None.
Adiournment
There being no further business to come before the Committee, John Walsh mOved to
adjourn. John Henning seconded. Roll Call. All present in favor. Motion passed. Meeting
was adjourned at 8:46 a.m.
Jean Noel
Housing Secretary
Respectfully submitted by:
David Harris
Director, Housing & Community Development Department