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CITY OF ST. ANTHONY <br />46 HOUSING AND REDEVELOPMENT AUTHORITY MEETING <br />4 <br />5 JUNE 24, 2003 <br />6 <br />7 CALL TO ORDER. <br />8 Chair Hodson called the meeting to order at 8:00 p.m. <br />9 <br />10 ROLL CALL. <br />11 Commissioners present: Chair Hodson; Commissioners Sparks, Thuesen, Horst, and Faust. <br />12 Commissioners absent: None. <br />13 Also present: Executive Director Michael Morrison and City Attorney Jerome <br />14 Gilligan. <br />15 <br />16 <br />17 I. APPROVAL OF JUNE 24, 2003, H.R.A. AGENDA. <br />18 Motion by Commissioner Faust to approve the June 24, 2003, Housing and Redevelopment <br />19 Authority Agenda as presented. <br />20 <br />21 Motion carried unanimously. <br />22 <br />23 11. CONSENT AGENDA. <br />16 Motion by Commissioner Sparks to approve the Consent Agenda, which consisted of: <br />26 A. H.R.A. Meeting Minutes of May 28. 2003: and <br />27 B. Claims. <br />28 <br />29 Motion carried unanimously. <br />30 <br />31 111. PUBLIC HEARINGS <br />32 A. H.R.A. Resolution 03-014, re: Approval of the sale of properties located on Kenzie <br />33 Terrace owned by the St. Anthony Village HRA. <br />34 Chair Hodson opened the public hearing at 8:01 p.m. <br />35 <br />36 Stacie Kvilvang, Ehlers and Associates, stated that the St. Anthony Housing and Redevelopment <br />37 Authority desired to sell the H.R.A-owned properties located on Kenzie Terrace for <br />38 redevelopment purposes. Requests for proposals were sent out and two proposals were received. <br />39 Following review of the proposals, the H.R.A. approved LaNel Financial's development concept <br />40 for said 1.06 -acre site to construct 38 rental units. The City's financial advisors recommended <br />41 the H.R.A. sell said lots as proposed at a purchase price of $285,000, based upon conditions as <br />42 set forth in the Agreement. This action would allow the closing for the property to commence by <br />43 August 15, 2003, with construction slated to begin on September 1, 2003. <br />44 <br />45 Ms. Kvilvang displayed a chart of properties purchased by the HRA from 1996 to 1999. She <br />40 stated that the collective costs for acquisition, demolition, relocation and other soft costs equaled <br />$444,000. She indicated that the new development, property evaluation and taxes generated <br />48 would help the City recapture those costs in approximately 7.5 years. She felt that redeveloping <br />