HRA/EDA Meeting - May 18th, 2026

The City of Richfield held a joint meeting of the Housing and Redevelopment Authority (HRA) and Economic Development Authority (EDA) on May 18, 2026. Key procurement-related discussions included approval of a license agreement with McNamara Contracting Inc. for use of HRA-owned property, and consideration of a memorandum of understanding with Hennepin County to implement the Bringing It Home Minnesota rental assistance program paired with the Schools to Housing program. The HRA also discussed updates on a 4D tax policy and upcoming developer open house for the American Legion site redevelopment. The EDA reviewed proposed revisions to the Transformation Loan Program guidelines aimed at improving equity and targeting funds to households with greater financial need, including establishing income and project cost limits. Due to concerns about income limits, the guideline revisions were continued for further review, but an additional $17,500 was approved to fund remaining 2026 loan applicants. The EDA also received an update on business resiliency funding distribution through NextStage. Motions to approve the consent calendar, memorandum of understanding, additional loan program funds, and claims were passed unanimously. The meeting included detailed discussions on program eligibility criteria and prioritization to ensure effective use of public funds.