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02 <br /> Housing and Redevelopment Authority Meeting Minutes <br /> May 28, 2003 <br /> Page 2 <br /> 1 <br /> 2 Mr. Prosser added that the City was taking action to decertify the Kenzie district, and that alone <br /> 3 would reduce this impact by 6% and would have some impact on general property tax, as well. <br /> 4 Mr. Prosser thanked the staff and stated that this would not have happened without the overall <br /> 5 good planning of the staff. <br /> 6 <br /> 7 Commissioner Sparks asked if decertification would affect only general property taxes and not <br /> 8 what the City is paying on the bonds. Mr. Prosser responded that the City would be adding an <br /> 9 additional value of approximately 6% onto the whole tax base. Because distribution would be <br /> 10 over a larger tax base, the impact upon the individual taxpayer would be less. <br /> 11 <br /> 12 Motion by Commissioner Faust to adopt H.R.A. Resolution 03-011 re: lease revenue bonds for <br /> 13 public facilities development for$5,530,000 at a rate of 3.7846%. <br /> 14 <br /> 15 Discussion: <br /> 16 Commissioner Thuesen stated that, because the paying agent was Wells Fargo, he felt he should <br /> 17 reveal that his wife works in that division. However, he felt he would be able to vote because his <br /> 18 wife was not working directly on the account. <br /> 19 <br /> 20 Commissioner Sparks stated she had received an e-mail wondering if the City was rushing into <br /> 21 this project. She said the City's thinking was that this issue has been discussed and irivestigated <br /> 22 for approximately four years. Previous City Councils have been involved in it. She listed the <br /> 23 forces that had converged to make this the time to go ahead. Commissioner Sparks restated that <br /> 24 this has been a long process. <br /> 25 <br /> 26 Motion carried unanimously. <br /> 27 <br /> 28 B. H.R.A. Resolution 03-008, re: Authorize purchase of 3505 Silver Lake Road <br /> 29 C. H.R.A. Resolution 03-009, re: Authorize purchase of 3501 Silver Lake Road <br /> 30 Executive Director Michael Mornson stated that the Christen property was known as site one for <br /> 31 the fire station. He said an agreement had been made, which was a standard resolution. The <br /> 32 property had been appraised and the purchase prices were as listed in the copies of the letters <br /> 33 given to the H.R.A. members. He stated there was nothing to indicate backing away from the <br /> 34 environmental work. <br /> 35 <br /> 36 Commissioner Sparks asked how much faith should be placed in that indication. Mr. Mornson <br /> 37 responded that the standard procedure appropriate for any personal property was used. <br /> 38 <br /> 39 Motion by Commissioner Thuesen to adopt H.R.A. Resolution 03-008, re: authorize purchase of <br /> 40 3505 Silver Lake Road. <br /> 41 <br /> 42 Friendly amendment was suggested by Commissioner Faust to include both H.R.A. Resolution <br /> 43 03-008 and H.R.A. Resolution 03-009 in the same motion. <br /> 44 <br />