HRA MINUTES 06082004 - Laserfiche WebLink

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I t 1 CITY OF ST. ANTHONY HOUSING AND REDEVELOPMENT AUTHORITY MEETING 4 5 JUNE 8, 2004 6 7 CALL TO ORDER 8 Chair Hodson called the meeting to order at 8:15 p.m. 9 10 ROLL CALL. 11 Commissioners present: Chair Hodson; Commissioners Stille, Thuesen, Faust and Horst. 12 Commissioners absent: None. 13 Also present: Executive Director Michael Momson. 14 15 16 1. APPROVAL OF JUNE, 2004, H.R.A. AGENDA. 17 Motion by Commissioner Horst, seconded by Commissioner Stille, to approve the June 8, 2004, 18 Housing and Redevelopment Authority Agenda as presented. 19 20 Motion carried unanimously. 21 22 I1. CONSENT AGENDA. 23 Motion by Commissioner Stille, seconded by Commissioner Thuesen, to approve the Consent Agenda, which consisted of: 01 A. H.R.A. Meeting, Minutes of May 25, 2004: and 26 B. Claims. 27 28 Motion carried. Abstained Horst 29 30 111. PUBLIC HEARINGS. 31 None. 32 33 IV. GENERAL POLICY BUSINESS OF THE H.R.A. 34 1. Consider Resolution 04-008: Aporovine a policy on Tax Exempt Financing_ 35 Ms. Stacie Kvilvang, Ehlers & Associates, Inc. stated Dominium had requested that the City and 36 the City's Housing and Redevelopment Authority (HRA) assist them in obtaining private activity 37 revenue bonds from the State of Minnesota for the purposes of developing 260 units of rental 38 housing in the Northwest Quadrant Redevelopment Area. The City and the HRA have assisted 39 both rental housing developments and industrial developments with obtaining these bond funds 40 from the State in the past. However, the City and HRA have never had a formal policy on what 41 type and how much of a fee they would charge for assisting developers in pursuing these types of 42 bonds. 43 44 Commissioner Stille asked if one percent was market rate, low, high, or average. Ms. Kvilvang doreplied one percent was at the high end. 47 Motion by Commissioner Stille, seconded by Commissioner Faust, to adopt Resolution 04-008; 48 Approving a policy on Tax Exempt Financing as presented.