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Dow High Performer Presentation CITY OF HOPKINS Memorandum To: Honorable Chair and Board Members Mike Mornson, City Manager From: Kersten Elverum, Director of Planning & Development Date: November 18, 2025 Subject: Hopkins HRA High Performer Status _____________________________________________________________________ PURPOSE The purpose of this presentation is to recognize and celebrate the US Department of Housing and Urban Development’s (HUD) designation of High Performer for the Hopkins HRA public housing program. INFORMATION Each year, HUD conducts an assessment of the HRA’s performance and assigns a designation. HRA staff is pleased to share that HUD has deemed the Hopkins HRA a High Performer. This rating reflects top-tier performance in operations, finance, project management, compliance, and property management. It is something only a small number of agencies across the country achieve. It also reflects the HRA’s financial stability. The HRA went from relying on a line of credit with the City of Hopkins, to earning a quick ratio score of 4.4. For every dollar owed in liabilities, Hopkins HRA has more than four dollars in readily available assets to cover it. This shows strong liquidity, sounds fiscal management and reduced financial risk. Additionally, Dow Towers occupancy rate continues to stay well above HUD’s national benchmark due to the team’s commitment to keeping homes occupied and residents supported During Covid and through a staff transition, vacancy rates at Dow Towers climbed and a series of events led to HUD’s designation of the Hopkins HRA’s performance as Substandard in 2023. Transforming from substandard to a high performing entity in just two years was difficult but achievable due to the leadership provided by Muse Mohamed as Public Housing Manager, with strong support from Brad Ferguson, Facilities Technician, and Terry Johnson, Facilities Worker. The small team certainly deserves credit for their hard work, collaboration, and dedication to improving the operations of our public housing program. FUTURE ACTION No future action is needed. Housing & Redevelopment Authority U.S. Department of Housing and Urban Development OFFICE OF PUBLIC AND INDIAN HOUSING REAL ESTATE ASSESSMENT CENTER Public Housing Assessment System (PHAS) Score Report for Interim 25.0040 Capital Fund Score Details PHA Name: PHA Code: HRA OF HOPKINS, MINNESOTA Fiscal Year End:03/31/2024 MN078 PHAS Indicators Original Score Adjustment Net Score Maximum Score PHAS Total Score Designation Status:High Performer 40 25 25 10 39 25 17 10 0 39 0 0 0 0 0 25 17 10 - Capital Fund PHAS Adjustment 100913952 Notes: 0Late Penalty Points 0- 09/05/2025Report Date: Initial published 09/05/2025Published09/05/2025 1. FASS Score before deductions 2. Audit Penalties Financial Score Details Total Financial Score Unrounded (FASS Score - Audit Maximum ScoreSubmission Type: Score Timeliness of Fund Obligation: 1. Timeliness of Fund Obligation % 2. Timeliness of Fund Obligation Points 90.0 Score Maximum Score 25.00Occupancy Rate: 3. Occupancy Rate % 4. Occupancy Rate Points Total Capital Fund Score (Fund Obligation + Occupancy Rate): 5 5 10 97.37 Unaudited/No Audit 1. The scores in this Report are the official PHAS scores of record for your PHA. PHAS scores in other systems are not to be relied upon and are not being used by the Department. 2. Due to rounding, the sum of the PHAS indicator scores may not equal the overall PHAS score. 3. "0" FASS Score indicates a late presumptive failure. See 902.60 and 902.92 of the Interim PHAS rule. 4. "0" Total Capital Fund Score is due to score of "0" for Timeliness of Fund Obligation. See the Capital Fund 5. PHAS Interim Rule website - http://www.hud.gov/offices/reac/products/prodphasintrule.cfm 25.00 25.00 0.00 25 25 5 5 10 Management Financial Physical