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Housing and Redevelopment Authority Meeting Minutes <br />May 28, 2003 <br />• Page 2 <br />2 Mr. Prosser added that the City was taking action to decertify the Kenzie district, and that alone <br />3 would reduce this impact by 6% and would have some impact on general property tax, as well. <br />4 Mr. Prosser thanked the staff and stated that this would not have happened without the overall <br />5 good planning of the staff. <br />6 <br />7 Commissioner Sparks asked if decertification would affect only general property taxes and not <br />8 what the City is paying on the bonds. Mr. Prosser responded that the City would be adding an <br />9 additional value of approximately 6% onto the whole tax base. Because distribution would be <br />10 over a larger tax base, the impact upon the individual taxpayer would be less. <br />11 <br />12 Motion by Commissioner Faust to adopt H.R.A. Resolution 03-011 re: lease revenue bonds for <br />13 public facilities development for $5,530,000 at a rate of 3.7846%. <br />14 <br />15 Discussion: <br />16 Commissioner Thuesen stated that, because the paying agent was Wells Fargo, he felt he should <br />17 reveal that his wife works in that division. However, he felt he would be able to vote because his <br />18 wife was not working directly on the account. <br />19 <br />20 Commissioner Sparks stated she had received an e-mail wondering if the City was rushing into <br />this project. She said the City's thinking was that this issue has been discussed and investigated <br />for approximately four years. Previous City Councils have been involved in it. She listed the <br />23 forces that had converged to make this the time to go ahead. Commissioner Sparks restated that <br />24 this has been a long process. <br />25 <br />26 Motion carried unanimously. <br />27 <br />28 B. H.R.A. Resolution 03-008. re: Authorize purchase of 3505 Silver Lake Road <br />29 C. H.R.A. Resolution 03-009. re: Authorize purchase of 3501 Silver Lake Road <br />30 Executive Director Michael Morrison stated that the Christen property was known as site one for <br />31 the fire station. He said an agreement had been made, which was a standard resolution. The <br />32 property had been appraised and the purchase prices were as listed in the copies of the letters <br />33 given to the H.R.A. members. He stated there was nothing to indicate backing away from the <br />34 environmental work. <br />35 <br />36 Commissioner Sparks asked how much faith should be placed in that indication. Mr. Morrison <br />37 responded that the standard procedure appropriate for any personal property was used. <br />38 <br />39 Motion by Commissioner Thuesen to adopt H.R.A. Resolution 03-008, re: authorize purchase of <br />40 3505 Silver Lake Road. <br />41 <br />Friendly amendment was suggested by Commissioner Faust to include both H.R.A. Resolution <br />io 03-008 and H.R.A. Resolution 03-009 in the same motion. <br />44 <br />