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MINUTES
ENTERPRISE ZONE COMMISSION MEETING
Friday, February 8, 2013
4:30 p.m.
Committee Members Present: Linda Rouse, Holden Barnhart, Beth Danowsky, John
Pothoven, Glenda Booy and Karen Powell. Absent: Benjamin Zugg, Michelle Purdum
and Doug Yates. Also present: Michael Schrock.
The meeting was called to order by Michael Schrock at 4:32 p.m. at the Oskaloosa City
Hall Conference Room.
It was moved by Pothoven, seconded by Danousky to approve the November 9, 2010
Enterprise Zone Commission minutes. Motion carried unanimously.
The committee discussed the Trolley Place Enterprise Zone Project and the reason for
the need to amend the project to reduce the number of residential units from 8, as stated
in the original application, to 6 units. It was moved by Booy, seconded by Powell to
approve an amendment to the Trolley Place Enterprise Zone Project reducing the
number of residential units from 8 to 6. Motion carried with all ayes except for Danowsky
(works for Musco with financial ties to ODD and Trolley Place) who abstained.
Schrock mentioned the committee needs to elect a chairperson at the next meeting.
It was moved by Pothoven, seconded by Booy that the meeting adjourn. The meeting
adjourned at 4:41 p.m.
(Attachment: Letter from Oskaloosa Downtown Development, LLC)
Minutes by Michael Schrock

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Oskaloosa Downtown Development, LLC
124 N Market Street Oskaloosa, IA 52577
February 1, 2013
TO: Oskaloosa Housing Enterprise Zone Commission
FROM: Linda Crookham-Hansen, Project Manager
Oskaloosa Downtown Development, LLC
641-673-2692, linda.crookham-hansen@musco.com
RE: Trolley Place Project, Contract # 11-HEZ-013
I am writing to request your consideration and approval of a formal amendment to the Trolley Place
project scope, reducing the number of residential units from 8, as stated in the original application, to 6
units.
Please note, the revision in project scope has been discussed with the Iowa Economic Development
Authority and was reflected in the 2011 and 2012 year-end reports.
As you are aware, the project was funded through a HUD Hope VI grant, Main Street Challenge and I-
jobs grants, a grant from the Oskaloosa Housing Trust Fund, a MidAmerican Energy rebate, Housing
Enterprise Zone tax credits, state and federal historic tax credits, loans and inkind private contributions.
The capital cost of constructing 8 units and installing geothermal HVAC proved to be prohibitive. The
project scope was revised to include 6 units equipped with energy-efficient appliances and fixtures.
Doing so created a positive cash flow model.
Construction was completed in October 2012. We are working to closeout the grant agreements, finalize
the historic tax credit agreements and prepare the Part 3 Historic Tax Credit submittals.
The first tenant in each unit will meet the income required by HUD (80% of the median income level for
Mahaska County). After that, the units will be available without income restriction.
Thank you, in advance, for your consideration of this request to formally amend the project, reducing the
number of units from 8 to 6.