The board approved a non-binding term sheet committing roughly $1.2 million in tax increment financing (net present value) to Real Estate Equities' proposed 180-unit affordable apartment building on Lyndale Avenue (former Wickes/Jewelers site). Commissioners raised concerns about lack of clarity on the ask and possible future Local Affordable Housing Aid (LAHA) requests if the developer doesn't secure ~$3 million in Hennepin County and Met Council funding; staff clarified this vote does not approve the project itself, which will require a future public hearing. Motion passed 6-0; project returns to council in June and back to the HRA in July for a proposed TIF district.
The HRA approved a general amendment to its 2025 Annual Action Plan increasing the public services award to Senior Community Services from $9,970 to $19,970, funded by shifting $10,000 from the rehab loan program budget, which staff said has surplus program income to cover the gap. No public comments were received during the required comment period. Motion passed 6-0 after some confusion over the exact dollar figures was resolved and staff was authorized to correct the resolution language.
The HRA approved roughly $70,000 in 2026 Community Development Block Grant public-services funding: $35,000 to VEAP for emergency rental/eviction-prevention assistance (~17 households), $15,000 to Bridging for furniture and household goods for people exiting homelessness, and $20,000 to HomeLine for tenant legal-hotline services. A commissioner asked about nonprofit reporting/compliance requirements; staff described income verification and annual sub-recipient monitoring. Motion passed 6-0; the action plan is due to HUD by Friday with the program year starting July 1.
A commissioner asked whether new Habitat for Humanity homes under the Bloomington Affordable Homeownership Initiative were connected to an earlier initiative targeting declining Black homeownership rates in the Twin Cities; staff clarified this was a separate program (new-home development) from Habitat's down-payment assistance program, and agreed to report back to the board on how many loans issued under that program have gone to African American families.
A commissioner said the board felt 'out of the loop' after moving from two meetings per month to one, noting a gap with no meeting in April and only a joint session in March. Staff defended the once-monthly cadence given prior board authorizations, and another commissioner suggested a mid-month email newsletter with project updates instead of adding meetings; the board agreed to continue meeting monthly for now.
