HomeMy WebLinkAbout03-25-2013 EDA MinutesEDA MINUTES MARCH 25, 2013
DRAFT
1
DATE : March 25, 2013
TIME STARTED : 6:20 p.m.
TIME ENDED : 6:30 p.m.
MEMBERS PRESENT : Commissioners O’Donnell, Roeser,
Reinert, Rafferty, Stoesz
MEMBERS ABSENT : None
OTHERS PRESENT: : Mary Divine
The meeting was called to order at 6:20 p.m. by President Roeser.
CONSIDERATION OF THE MINUTES OF MARCH 11, 2013
EDA Member O’Donnell moved to approve the March 11, 2013 minutes. EDA Member Reinert
seconded the motion. Motion carried on a unanimous voice vote.
CONSIDERATION OF RESOLUTION NO. 13-04 APPROVING THE SECOND
AMENDMENT TO CONTRACT FOR PRIVATE DEVELOPMENT AND
SUBORDINGATION AGREEMENT AND FIRST AMENDMENT TO DECLARATION
OF COVENANT AND RESTRICTION.
Mary Divine, Economic Development Coordinator, explained that the EDA approved an
amendment to the original Contract for Private Development so that Lino Lakes Housing
Limited Partnership (LLHLP) could acquire the project. She explained that LLHLP is now
trying to refinance to take advantage of favorable interest rates. This process requires the
execution of the amendments.
EDA Member Rafferty moved to approve Resolution No. 13-04 as presented. EDA Member
Stoesz seconded the motion. Motion carried on a unanimous voice vote.
ADJOURNMENT
There being no further business, EDA member Stoesz moved to adjourn. EDA Member Rafferty
seconded the motion. Motion carried on a unanimous voice vote.
Meeting adjourned at 6:30 p.m.