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- 1 1 CITY OF ST. ANTHONY •2 HOUSING AND REDEVELOPMENT AUTHORITY MEETING MINUTES 3 January 9, 2001 4 I. CALL TO ORDER. 5 The meeting was called to order by Chairman Cavanaugh at 9:25 p.m. 6 II. ROLL CALL. 7 Commissioners present: Chairman Cavanaugh; Vice Chair Thuesen, Commissioners 8 Sparks, Horst and Hodson. 9 Councilmembers absent: None. 10 Also present: Executive Director Michael Mornson; and City Attorney Jerome 11 Gilligan. 12 III. APPROVAL OF JANUARY 9,2001 H.R.A. AGENDA. 13 Motion by Hodson to approve the January 9, 2001 H.R.A. Agenda as presented. 14 Motion carried unanimously. 15 IV. CONSENT AGENDA. 16 Motion by Sparks to approve the Consent Agenda, which consisted of: 7 1. H.R.A. Meeting Minutes of December 20, 2000; 8 2. Claims for the H.R.A.; and 19 3. H.R.A. Resolutions 01-001 - 01-005. 20 Executive Director Michael Mornson noted the Mayor will act as Chair, Horst will act as the 21 Vice Chair, and Sparks will act as the Secretary and be authorized to sign documents with the 22 Chair and Executive Director. 23 Motion carried unanimously 24 V. GENERAL POLICY BUSINESS OF THE H.R.A. 25 A. H.R.A. Resolution 01-006, re: Approve Redevelopment Agreement with Meridian St. 26 Anthony, L.L.C. (For Wal rg eensl 27 City Attorney Jerome Gilligan explained that this agreement provides, upon completion of 28 construction of the building, disbursement of funds of up to $200,000 in TIF to reimburse them 29 for eligible costs. The resolution includes a provision that the debt must be repaid if the property 30 is sold within one year from that point. It also contains a provision for reduction in assistance if 31 the costs do not come in as high as estimated. He stated this is a standard redevelopment 32 agreement and has been used with other projects. 33 Chair Cavanaugh noted they cannot seek property tax exemption. Attorney Gilligan stated that 34 is correct and is a covenant recorded with the land for a term of 30 years. 1835 Sparks asked if the $200,000 will be used for soil improvements. Attorney Gilligan stated the 36 funds would be used for development expenses and site improvements.