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Commissioner Gamec stated his personal feeling is that there are a lot of properties that may become available. If there is enough money in the HRA fund it could be used to purchase the properties as they become available. He noted there is currently a property for sale that comes out onto County Road 116. Properties could also be purchased to facilitate projects such as a sewer line going through. Commissioner Dehen questioned if the County will provide funding to purchase houses if the Dysprosium project goes through. Commissioner Gamec stated with the way funding is currently being provided, and now with the State funds that will be used for the 35W Bridge project, there will likely be more dependence on County and City funds for projects. Chairperson Olson asked if the house that was purchased to push through Neon Street would have been a candidate for HRA funds. HRA Executive Director Frolik replied she does not believe so. In response to Commissioner Dehen's comments, State Statute provides the HRA with the enabling legislation to levy those funds. They do not `want to wait until there is a project and dedicate Y2 million dollars, playing catch up. Funds can be banked for certain projects they know will happen because they are included in the Comprehensive Plan. The levy is a tool to meet the City's housing goals. Commissioner Elvig commented there is a fair study that was done on the demographics of the City with HRA dollars. That study is a wonderful tool to figure out how the City is growing and where the weaknesses are. From that study there are plans about different concepts and ideas. He suggested the study be distributed to the HRA commissioners as a refresher. He stated he agrees with some of the comments, but has been involved long enough to know there are some things that that are very beneficial. He requested staff to comment on the share of County, State and City funds for the Highway 47 project. Finance Officer Lund replied the County was the lowest participant in that project. The County contributed $200,000 to $250,000 and the State contributed $500,000. Commissioner Elvig pointed out that the City paid $4 million for the Highway 47 project. This is an example of how the City needs to find its own funds for transportation projects. Commissioner Gamec stated he has looked at that particular project on Dysprosium; a lot of people are pretty upset about those homes down there. It would be beneficial to have a reserve fund available for opportunities. Commissioner Dehen inquired about the current amount in the HRA Fund. Finance Officer Lund replied the current balance is $317,000; $90,000 goes to salaries, which would come from the General Fund if it is not provided from the HRA Fund, and would be levied either way. This is the third year of the HRA levy, and the funds for the first half of the Housing and Redevelopment Authority / August 14, 2007 Page 4 of 6