The Redevelopment Authority (RDA) met on Monday, August 17, 2026 at 6:03 p.m. No members of the public were present. The meeting covered updates on loan and grant programs, elections for chair and vice chair, a consultation on a proposed 20-unit affordable housing development (Cherry Faith Properties), and a discussion on updating the 2012 Central City Master Plan.
My retirement. I decided not to retire. So begin my insurance business for another year. Well it's like I work from 7 30 till Monday through Friday in the days or whatever. Okay. What? Challenge. So it's uh six o'clock, 6 03 p.m. I'd like to call the uh Monday, August 17th, 2026 meeting to order. I don't see any public here, so there's no public comment. Move on to item number three, approval of the minutes. So move a second. Uh okay. I don't see anybody against, so I'm uh gonna say that that passed by humanitarian unanimous consent. Long time moves us up into uh number four, the business items. We're gonna turn it over to Jeff for update on redevelopment authority loan programs when he gets there. Of course, I just opened to adjourn defaults to adjourn on these things. Oh yes, uh I got them all comment. We've got two members not here, we have a quorum. So let's get started here. So yeah, like I said, it's it's been a while since we've met, so um, these are the loan and grant numbers. Um not a lot of change. Um the storefront activation we had a full payoff of a loan, and we continue your monthly payments. So that one's starting to build up again. We have some interest in a few uh businesses downtown to maybe tap into that. Um guy who just guy who applied who just bought the metropolitan building is looking to do some upgrades. Um so he applied. He's coming to sign the paperwork yet. So continues to be a pretty popular program. Um the housing the hodeg, the rental rehab grant, um hasn't really seen much change. The rehab program continues again to be uh fairly popular with residents, not maybe not so as much so before because there is a requirement that they have to repay it. So a lot of them go into Walk Shaw County home funds where it's no interest in deferred payment, but we still we're still getting a few applications here and there for that. And then the affordable housing development fund, uh, Habitat has paid back with interest all but one of their loans on Dominica Park. That one should be wrapping up fairly soon for the next couple weeks. So we'll get that back. And we have committed that additional at the last meeting committed additional uh $600,000 for the three projects they're doing over by the hospital on Madison and Caldwell. So that's the status of that. Um I and then I think that's kind of it. I don't know if there's any questions on this. So the outstanding funds committed for the affordable housing development fund of $800,000. That's for the three projects we approved. Uh the three projects plus an additional $200 for the up for the other Dominican park that will get paid back. I said I anticipate we'll have that money by September. They're just finishing up that once they get occupancy and they actually transfer it to the habitat family. That's when we get our money and interest from them. I mean, in with that problem, we've generated quite a bit of interest just from those habitat loans. I want to say we're probably about 17, 18,000 in interest just from those loans. So it's kind of nice that those are short and they're turning around fast. We're getting the money back to make our to make this fund a little bit larger. We have had quite a bit of discussion.