NEW ULM — An agreement Tuesday between the Economic Development Authority (EDA and Alliance Bank will allow bank employees to use an EDA parking lot at 326 N. Broadway during the construction of the new Alliance Bank.

Housing Coordinator Heather Bregel said this property is rented by Broadway Haus during the winter months to allow tenants to move vehicles for snow plowing. The tenants do not use the lot during the warm months.

Alliance Bank Regional President Bob Reuter said the parking was only needed for the summer months. Construction of the new bank building has taken away the employee parking lot. Parking on German Street has become congested during baseball games. Reuter was not looking to lease parking through the entire construction time of the bank, but wanted available parking during a busy time of the year.

Mayor Robert Beussman said the last baseball game of the season was played at Johnson Park, meaning congestion should diminish on German Street.

The board was willing to work with Alliance Bank. The lot has roughly a dozen stalls, but the lot has no striping. Alliance has offered to paint stripes. Board member Charlie Schmitz suggested offering the lot at $100 a month if the bank was willing to paint in the stalls.

Board member Les Schultz made a motion to grant Alliance Bank use of the parking lot at $100 a month. The arrangement could continue into the winter months, except during snow removal.

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The onsite caretakers for Garden Terrace are retiring July 15. They are the original caretakers and have been with Garden Terrace for 25 years. Lloyd Management is advertising for their positions. Lloyd Management also manages Skyline Terrace and will manage the new Emerson Union apartments.

Bregel said Lloyd Management is looking into creating a New Ulm team for the three buildings and may take a new approach.

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The board approved a $27,750 bid for Broadway Haus pneumatic replacement. The project includes the replacement of 52 pneumatic thermostats and 48 control valves and replacement of pneumatic components in the mechanical room.

Paape Companies submitted the only bid for the project; under the $30,000 estimate. Other vendors could no longer work with pneumatic systems other than retrofitting them to digital. Bregel said the cost to switch to digital was significantly higher.

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The public housing operating budget was approved. The budget covers the day to day operations of the EDA’s 50 public housing units: 40 units at Broadway Haus and 10 scattered site family unit rental houses. For the next fiscal year, public housing is looking at a deficit of $27,900.

Bregel said the increased deficit is caused by lower rental revenues, increased operating costs and Congress pro-rating the operating subsidy. She said adequate reserves were available to cover the deficit or any catastrophic events.

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Revised income limits for Section 8 Housing choice vouchers and public housing programs were adopted. The Department of Housing and Urban Development is required to update the income limits annually. Income limits are used to determine eligibility for rental assistance.

The median income for a household of four increased from $70,300 to $74,800. As a result, the income limit has jumped by $4,000 in the last year.