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EDC Minutes <br /> October 15, 2019 <br /> Page 5 of 7 <br /> ----------------------------- <br /> by the end of October to let us know if they're interested in learning more. She <br /> stated that they had an informational session for the residential property owners <br /> October 8�" and only finro people showed up but they have another informational <br /> session tonight at six o'clock. Ms. Malecha said she has received five residential <br /> applications back so far. <br /> Commissioner Lelwica asked about the loan length and if it is forgiven after that. <br /> Ms. Malecha stated that it is five years for commercial, seven years for <br /> residential and yes the loan is forgiven after that. <br /> Commissioner Lelwica inquired if it is mostly exterior improvements for the <br /> program. Ms. Malecha agreed but said there is some mechanical items in there <br /> as well. She stated that it applies to accessibility improvements, fire safety and <br /> code related improvements on the commercial side. She stated on the <br /> homeowner's side is health and safety, energy efficiency issues, mechanical, <br /> structural and any compliance issues with the state building code. Ms. Malecha <br /> said that John Schommer has been a wealth of knowledge and if anyone has <br /> questions to reach out to him directly because he has helped other communities <br /> with this program in our area. Discussion ensued loan forgiveness and the length <br /> of the loans for residential and commercial. <br /> Ms. Malecha stated the deadline for homeowners and commercial properties is <br /> October 23, 2019 and that the pre-application deadline for the program is <br /> November 15, 2019. She stated the final application is due in February 2020 and <br /> based on that application we find out if we are awarded funds. Commissioner <br /> Lelwica inquired if an applicant does not apply if the City would need to apply for <br /> the program again. Ms. Malecha stated that the City would have to go through <br /> the entire process again. <br /> Discussion ensued about commercial loan forgiveness and the owner being <br /> responsible for 20% of the costs up front and 80% being covered through the <br /> program. <br /> Chair Lindholm thanked Ms. Malecha for all of her work on this project and stated <br /> that this is a great opportunity for the community and for homeowners. <br /> 7. Heart of the Good Life Listeninq Sessions Update <br /> Nancy Malecha stated that there were seven meetings within the last week and <br /> about 114 people participated in total befinreen the meetings. She said that we <br /> are waiting to get feedback from ICS consulting and they will appear at our City <br /> Council meeting on November 5th with the information that they've compiled <br /> based on those listening sessions. <br /> Chair Lindholm discussed the ICS timeline with the EDC. He stated that we will <br /> listen to the results on November 5th at the Council Meeting and they are <br /> currently trying to form a steering committee. He does not know if that's been <br /> solidified but said some people have stepped up. Chair Lindholm stated the <br />