HRA AGENDA 11101987 - Laserfiche WebLink

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1 The Attorney and Consultant discussed the missing sections of the 2 Redevelopment Contract with the redevelopers who the Executive 3 Director indicated would now be referred to as the Wilson Street 4 Associates with Mr. Gaughan personally signing as the general partner 5 and submitting the $360,000 Letter of Credit guaranteeing the 6 development in the agreed upon period. 7 Mr. Krier said the redeveloper was being asked to provide the 8 drawings of buildings and site improvements according to the survey, 9 which is almost completed. The architectural renderings would then 10 become a part of the contract and would also be taken to the Hennepin 11 County Assessor to set a minimum value on the property, of which he 12 said the City already had a pretty good estimation. The Consultant 13 indicated the schedule was already in the contract and it was only 14 left to the redeveloper to provide an administrative type document 15 which would be easier to read. 16 Mr. Krier stated that in terms of any of the above missing items, he 17 did not perceive a need for delaying the approval of the Contract 18 that evening because the H.R.A. Chair and the Executive Director 19 would not sign the document until all necessary documentation is 20 provided. The Consultant indicated he perceived it was important to 21 keep the process going and to lock in lower interest rates as fast as 22 can be done. He said the hope was that the Redevelopers Contract 23 could be signed by the end of the week. 24 Mr. Soth recommended making the approval contingent on the City 25 Council approving the modified P.U.D. on the project on which both 26 the Planning Commission and Council would be required to hold public 27 hearings. He added that the description of the development, which 28 would be general in the contract, would be nailed down more specifi- 29 cally in the P.U.D. 30 Mr. Krier reiterated that the meeting with the people from the 31 Minneapolis triangle closest to St. Anthony would be held in the St. 32 Charles Borromeo school the following Monday, but because a lot of 33 time has already been spent talking to the Minneapolis people, no 34 major opposition was anticipated at that meeting. Mr. Childs 35 confirmed that all St. Anthony property owners who had been sent 36 notices of the Planning Commission October 20th public hearing on the 37 P.U.D. had also been invited to attend the October 19th informational 38 meeting at St. Charles where he perceived more questions could be 39 answered than at a public hearing. 40 Commissioner Ranallo reiterated that he would be attending the Monday 41 evening meeting at the request of Alderman Dziedzic, who perceived it 42 was very important to have the informal meeting with the neighbors 43 before the public hearing. The consensus was that Mr. Childs should 44 also attend that meeting. 45 Mr. Krier indicated he perceived the issues raised at the Monday 46 meeting would be mostly design oriented requiring the presence of the 47 redevelopers' president and architect but not the Attorney. 2