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Economic Development Committee <br /> January 20, 2009 <br /> Page 2 of 3 <br /> ----------------------------------------------- <br /> 4. BLADC 2009 Contract <br /> Sheila reviewed the proposed contract. <br /> COMMISSIONER SMITH MOVED THAT THE EDA RECOMMEND <br /> THAT THE CITY COUNCIL APPROVE THE CONTRACT FOR 2009. <br /> COMMISSIONER JURCHEN SECONDED THE MOTION. MOTION <br /> CARRIED 5-0. .r <br /> 5. Neighborhood Stabilization Program a <br /> Sheila Haverkamp gave an update on the Neighborhood Stabilization Program. <br /> She noted that BLADC is exploring this opportunity on behalf of;the County. The <br /> Federal Government has allocated money to the State of Minnesok or the <br /> program and the funds are to be used far neighborhood stabilization <br /> BLADC has been working with communities tootermine the specific needs of <br /> each community. She noted thq.t we need to targe eighborhoods that need help <br /> due to property foreclosures anil.�P"�p erty abandonfftt, Sheila explained that <br /> some ways that could be considered asssls ance wouldbe acquisition of <br /> \.. properties, helping individuals or pxopertyrov ners with'rehabilitation, demolition <br /> of properties, or a down-payment t6,g9t bto the lio-use. She explained that we <br /> need immediate olut1ons,to spend the nds if awarded. <br /> Sheila explame tat the��ity of Braine'� would be the applicant on behalf of the <br /> neighborhoods anftnsf l r d he fiscl& gent for the grant. Applications are due <br /> Janq <br /> xl k <br /> _Pat Smith stated h'q would like to see a revolving loan. If the program takes off it <br /> waS�suggested that one person from the EDC work with BLADC to define rules <br /> and�xegulations as f6--'bow dollars will be expended. Patrick Smith stated that he <br /> would b ;available t 0:assist. <br /> r£ `_ <br /> COMMISSIONER JURCHEN MOVED THAT THE ECONOMIC <br /> DEVELOPMENT COMMISSION SEND A LETTER OF SUPPORT FOR <br /> THE PROGRAM AND THAT THE MAYOR ALSO SEND A LETTER OF <br /> SUPPORT. COMMISSIONER SMITH SECONDED THE MOTION. <br /> Dawn Bittner had identified potential areas that would qualify for this program. It <br /> was noted by the EDC that Sections 10 and 15 should be the targeted area for the <br /> program. <br /> MOTION CARRIED 5-0. <br />