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• C X TY O F S T . ANTHONY <br /> SPEC 2 AL HOU S 2 N G AND REDEVELOPMENT <br /> AUTHOR 2 TY MEET=NG M=NUTE S <br /> AUGU S T 4 1 9 8 8 <br /> 1 <br /> 2 The meeting was called to order by Chair Sundland at 5: 00 P.M. <br /> 3 Present for roll call: Sundland, Vice Chair Enrooth, and <br /> 4 Commissioners Makowske and .Ranallo. <br /> 5 Absent: Secretary/Treasurer Marks. <br /> 6 Also present: David Childs, Executive Director <br /> 7 Bill Soth, H.R.A. Attorney <br /> 8 Greg Bronk and Paul Brewer, Lang-Nelson <br /> 9 Gary Holmes and David Carland, CSM Corp. <br /> 10 The purpose of the meeting as advertised was to approve the redevelop- <br /> 11 ment contract as negotiated with Lang-Nelson Companies for the third <br /> 12 phase- of the Kenzie Terrace Redevelopment Project. <br /> 13 Paul Brewer, Lang-Nelson Company, reported that it had been one year <br /> 14 almost to the day when he had given a presentation to the H.R.A. to do <br /> �5 the project and the Council had chosen Gaughan Companies. When Gaughan <br /> 6 Companies failed to do the project, Lang-Nelson and - the City began <br /> 17 discussions -about having them finish the project. Lang-Nelson has <br /> 18 worked hard to put a package together and was present that night with: <br /> 19 (1 ) plans, (2 ) a $20 ,000 non-contingent option check, (3 ) signed <br /> 20 redevelopment agreement, (4) a $360,000 Letter of Credit with a 30 day <br /> 21 financing contingency, and (5) -personal guarantees from Lang and Nelson.. <br /> 22 Mr. Brewer described the project which contained slightly bigger units <br /> 23 with the same number of units, resulting in larger buildings. They <br /> 24 propose 3 buildings of 48 , 55 and 96 units instead of 2 .buildings of <br /> 25 100+ units each, as proposed by Gaughan Companies. The buildings will <br /> 26 be 3 story, with underground parking, hip-type roofs and mostly brick <br /> 27 exteriors. They plan to model the building after a project they have <br /> 28 just completed in Coon Rapids. <br /> 29 Lang-Nelson hopes to have bonds sold in 30-45 days. The City would then <br /> 30 acquire the land and construction would start as soon as the land is <br /> 31 acquired. There would be an 18-22 month construction period. Norwest <br /> 32 Bank would provide the Letter of Credit to enhance the bonds. <br /> 33 The H.R.A. thanked Mr. Brewer for his proposal and stated that a year <br /> 34 ago, when they chose Gaughan Companies over Lang-Nelson, the Council <br /> 35 had an extremely difficult time making that decision since both <br /> 1 <br /> • <br />