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Housing and Redevelopment Authority Meeting Minutes <br />•June 25, 2002 <br />Page 3 <br />1 Commissioner Thuesen asked about the 25 -year payback period that it would take to <br />2 recapture their entire investment with the LaNel proposal, and if it was a fairly typical <br />3 time period. Kvilvang stated that the timeframe for a standard redevelopment district was <br />4 25 years. <br />5 <br />6 Motion by Commissioner Faust, second by Commissioner Thuesen, to approve <br />7 Resolution 02-012, re: Authorizing the Chair and Executive Director to enter into a <br />8 Redevelopment Agreement relating to the Kenzie Terrace redevelopment project. <br />9 <br />10 Motion carried unanimously. <br />11 <br />12 IV. STAFF REPORTS. <br />13 None. <br />14 <br />15 V. H.R.A. COMMISSIONER COMMENTS. <br />16 None. <br />17 <br />18 VI. INFORMATION AND ANNOUNCEMENTS. <br />19 None. <br />0 VII. ADJOURNMENT. <br />22 Motion by Commissioner Thuesen, second by Commissioner Horst, to adjourn the meeting at <br />23 8:32 p.m. <br />24 <br />25 Motion carried unanimously. <br />26 Respectfully submitted, <br />27 Courtney Seesz <br />28 TimeSaver Off Site Secretarial, Inc. <br />0 <br />