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CITY OF .ST. ANTHONY HOUSING AND REDEVELOPMENT. AUTHORITY MINUTES May 24 , 1983 Chairman Sundland called the meeting to order .at. 9 :13 P.M. Present for. roll call: Sundland, Vice Chairman Letourneau, and Commissioners Ranallo and Enrooth. Absent: Marks. Also present: David Childs , .Executive Director;. William Soth, Attorney; Dick Krier of Westwood Planning & Engineering, Inc. , Planning Consultant; .-and Stephen Yurick of Arkand Part- . nership, tentative Redevelopers - of the Kenzie Terrace ,- Redevelopment Project. Motion by Vice Chairman- Letourneau and seconded by Commissioner Enroo.th to approve as submitted the minutes of the H•.R.A. meeting. held May 10 , 1983. Motion carried unanimously. Copies of -the Redevelopment Agreement to be signed by the Chairman and Secretary/Treasurer had. been distributed .by Mr. Krier who had outlined the provisions of that agreement in the letter which had been included --in-the--agend-a--packe.t-zT.The- Plann ngT-Gensu•ltant•-noted•-that- .the•--oontra•c-t had been signed,- by the parent company of ,Kraus-Anderson, Inc. , which he perceived-_i;iaiA6 be more beneficial= to`-the City than just.: axing"the real estate subsidiary .a partner. . Mr-. . Soth. indicated he. had in his possession the ,$100 , 000 Letter of Credit..:-covering the- first phase of the project, but intends to see if he can persuade the bank to drop the two paragraphs they added -to the document because it would be better for the City if these additions could. be removed. Mr. Krier reminded-. the H'. R.A.. members .that the redeveloper would have to submit another- Letter . of .Credit for- $300 , 00°0. before-any- land is acquired for Phase.2 which-. would minimize,..the City ' s risk if-the property is acquired and not' developed .by Arkand. The Planning .Consultant said his firm would be negotiating with Mr. Saliterman . to. -see if--the land in Phases 2 and .3 could be purchased as needed but - doubted the owner would go along with that. proposition. . Mr. Yurick told the .Chairman his: firm would be. promoting Phase 2 sales as soon as construction is started on- the 134 units in Phase 1 and both phases could be constructed concurrently -if there is a market demand for it. Motion by- Commissioner Ranallo and seconded by Vice Chairman Letourneau . . --- to.-. adop.-t-the_.reso.l.ution.which-autho.rizes._the execution of .the._Redevelop- ment-: Agreement :with the ArkandPartnership. H.R.A. RESOLUTION 83-003 AUTHORIZING THE REDEVELOPMENT CONTRACT Motion carried unanimously.