CC PACKET 01271987 - Laserfiche WebLink

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CITY OF ST _ ANTHONY. HOUSING- AND REDEVELOPMENT AUTHORITY MINUTES NOVEMBER 25 , 1.986 The meeting was called to order at 8:51 P.M. by Chairman Sundland. Present for roll call : Sundland, Vice Chair Enrooth, Secretary/Treasurer Marks, and Commissioners Ranallo and Makowske. Also present: David Childs, Executive Secretary William Soth, H.R.A. Attorney Steven Yurick and Gary Tushie, Project..Manager and Architect, Arkell Development. Corporation. OCTOBER 28 , 198,6• HOU-S.I.N_G - AND_. REDEVELOPMENT AUTHORITY MINUTES Motion by Marks, seconded- by Ranallo to approve as submitted Motion carried unanimously. CLAIMS Motion by Ranallo, seconded by Makowske to approve payment of $5.1 .00 to the Dorsey & Whitney firm for the legal services -rendered during September, 1986. Motion carried unanimously. NEW BUSINESS H.R.A. Approves Agreement with Arkand Partnership Regarding Housing Revenue . Bonds For the Kenzie Terrace Redevelopment Project Staff input: Mr. Soth read the changes which he had made in the, draft of the Agreement,, which met with no objections from the H.R.A. along with a proposed resolution which -authorized the-.execution of that Agreement as follows: .. • Letter of Credit in the .amount required by .the contract; • the funds to be paid out by the trustee December -1st go in part to Piper Jaffray; the issuer and the remainder goes to pay project costs the-developer is committed. to;- * the first payment from interest accrued to the -City would therefore be made on January 1st; • the funds the City receives may- be deposited in investments of no more than 90 days; • the whole effect of the H.R.A. taking over the bonds would only be upon written notice of the H.R.A. ; if the H.R.A. does take over the bonds, the developers , • have requested that the agency obtain a re lease from the City. References to the project as "Building 'C'" were clarified;