The Hubbard County HRA/EDA Board meeting on August 19, 2025, focused on discussions regarding tenant qualification criteria for rental properties, particularly the Meadows Edge property. A key point of contention was the proposal to lower the minimum credit score requirement for applicants from 600 to 500.

Board members expressed concerns about the implications of such a reduction. One member highlighted that the current leasing agent had to reject applicants with credit scores between 570 and 599, indicating that even those slightly below the threshold were not being accepted. The Meadows Edge property, located near Walmart, is currently experiencing a high vacancy rate of 14%, with approximately five units unoccupied.

The discussion also touched on the broader issue of applicant qualifications. It was noted that while some applicants had acceptable credit scores, they often lacked sufficient income to meet rental demands. This raised questions about the effectiveness of solely relying on credit scores for tenant qualifications.

Members debated the potential risks of lowering the credit score requirement, with concerns that it could lead to higher delinquency rates among tenants. The board referenced standard credit score benchmarks, noting that most mortgage qualifications typically require scores of 680 or higher, while a score of 500 is considered very low.

The meeting underscored the need for a balanced approach to tenant qualifications that considers both credit history and income levels, as well as the potential impact on property management and community stability. Further discussions and evaluations of the current criteria are expected as the board seeks to address the ongoing vacancy issues at Meadows Edge.