PRESENT: Sonnentag, Wexler, Barmore, Dean, DiPiazza, Zellers
ABSENT: Simon
ALSO PRESENT: Davis, Kelley, Attoun
Moved by Wexler, seconded by Barnore, to approve the minutes of 2-26-08. Motion carried 6-0.
2. Recommendation for Additional Down Payment Assistance Allocation
City Administrator Mike Davis indicated that the Down Payment Assistance Program has made 7 loans, with another one pending. Only approximately $4500 is remaining of the original allocation of $100,000, the rest has been utilized for down payment assistance, and the Work Force Housing Task Force has requested that the CDA allocate an additional $100,000 in down payment assistance funds and $10,000 for administration. Davis introduced several members of the Work Force Housing task Force that were present, including Paul Helgeson, Andy Lewis and Steve Hansen. Steve Hansen presented information about changes in the mortgage industry that now require a 3 or 5% downtown payment and no longer allow 100% mortgage financing. The City’s down payment assistance program may have more inquiries due to these changes.
Following discussion, moved by Barmore, seconded by Wexler, to approve an additional $100,000 in down payment assistance and $10,000 for administration of the program. Roll call vote: Wexler, Zellers, Barmore and Sonnentag yes, Dean,Dipiazza no; motion carried 4-2.
3. CDA Finances
No action was necessary.
4. Proposal from Downtown Businesses for Downtown Marketing and Advertising
Van Nutt and Yvette Kindschi presented a proposal for marketing the next gallery night
downtown, scheduled for May 8, 2008. Moved by Wexler, seconded by Zellers, to
provide up to $3,000 in matching funds for actual marketing expenditures for this event,
as submitted. Motion carried 6-0.
5. Adjourn
Moved by Wexler, seconded by Dean, to adjourn at 6:56 p.m. Motion carried 6-0.
EILEEN KELLEY
Note: These minutes were prepared by Eileen Kelley, City Planning Director and Zoning Administrator. These minutes are based on the notes of the recorder and are subject to change at a subsequent meeting.