The EDA finalized the sale of its lots on North Broadway, which were previously adjacent to the Broadway House. This sale reflects a change in the EDA’s property management strategy and reduces the number of budgets it manages. The remaining budgets now include the EDA budget, the Section 8 budget, and the public housing budget. With the sale of Garden Terrace and these lots, the EDA has streamlined its financial focus.

Child care concerns took center stage as the rising cost of insurance for providers and centers was discussed. A particular instance highlighted was a recent unexpected closure of a center in Sleepy Eye due to prohibitive insurance renewal costs. This closure exacerbated the existing child care shortage, leaving many parents scrambling for alternatives. Providers at Westridge Place and other areas are finding it increasingly difficult to secure affordable insurance, posing a significant barrier to maintaining their operations.

The EDA is also focusing on strategic planning, having commenced meetings with Better City for a strategic plan expected to conclude by year-end. A survey will soon be disseminated to commissioners as part of this process.

In the Section 8 Housing Choice Voucher Program, there was a noted discrepancy in reported revenue over expenses. Initially, it seemed there was a surplus of $16,000, attributed to an increase in administrative fees due to extra work from leasing up new vouchers. However, this figure raised questions and is under investigation for accuracy.

Lastly, the public housing budget was discussed, with the upcoming fiscal year’s operating budget projecting a surplus of $126,000. Despite a significant surplus of $450,000 noted for the current year, the reason for this excess remains under review, with potential factors including reduced maintenance hours and increased interest income. The EDA decided to look more closely at these figures to understand the discrepancy.