03-17-2009 EDC Meeting - Laserfiche WebLink

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Economic Development Committee January 20, 2009 Page2of3 4. BLADC 2009 Contract Sheila reviewed the proposed contract. COMMISSIONER SMITH MOVED THAT THE EDA RECOMMEND THAT THE CITY COUNCIL APPROVE THE CONTRACT FOR 2009. COMMISSIONER JURCHEN SECONDED THE MOTION. MOTION CARRIED 5-0. 5. Neighborhood Stabilization Program Sheila Haverkamp gave an update on the Neighborhood Stabilization Program. She noted that BLADC is exploring this opportunity on behalf of the County. The Federal Government has allocated money to the State of Minnesota for the program and the funds are to be used for neighborhood stabilization. BLADC has been working with communities to determine the specific needs of each community. She noted that we need to target neighborhoods that need help due to property foreclosures and property abandonment. Sheila explained that some ways that could be considered as assistance would be acquisition of properties, helping individuals or property owners with rehabilitation, demolition of properties, or a down-payment to get into the house. She explained that we need immediate solutions to spend the funds if awarded. i Sheila explained that the City of Brainerd would be the applicant on behalf of the neighborhoods and considered the fiscal agent for the grant. Applications are due January 28th Pat Smith stated he would like to see a revolving loan. If the program takes off it was suggested that one person from the EDC work with BLADC to define rules and regulations as to how dollars will be expended. Patrick Smith stated that he would be available to assist. COMMISSIONER JURCHEN MOVED THAT THE ECONOMIC DEVELOPMENT COMMISSION SEND A LETTER OF SUPPORT FOR THE PROGRAM AND THAT THE MAYOR ALSO SEND A LETTER OF SUPPORT. COMMISSIONER SMITH SECONDED THE MOTION. Dawn Bittner had identified potential areas that would qualify for this program. It was noted by the EDC that Sections 10 and 15 should be the targeted area for the program. MOTION CARRIED 5-0.