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2 <br /> Housing and Redevelopment Authority Meeting Minutes <br /> June 25, 2002 <br /> Page 2 <br /> 1 Motion by Commissioner Faust, second by Commissioner Thuesen, to adopt H.R.A. <br /> 2 Resolution 02-010, re: Finding a parcel to be occupied by a structurally substandard <br /> 3 building. <br /> 4 <br /> 5 Motion carried unanimously. <br /> 6 <br /> 7 B. H.R.A. Resolution 02-011, re: Consider purchase agreement with Culvers. <br /> 8 Mornson stated they purchased the Hardee's property for$319,000 which they will re-sell <br /> 9 to Culver's, asking for the $319,000 up front, and will refund them $314,000 after a <br /> 10 certificate of occupancy is issued for the Culver's structure. <br /> 11 <br /> 12 Morrison continued that they would also work with Culver's to demolish both facilities. <br /> 13 He stated that Culver's would pay for the demolition of the Exhaust Pro facility, and the <br /> 14 city would pay for the demolition of the Hardee's facility, all of which is part of the <br /> 15 purchase agreement that is being negotiated. <br /> 16 <br /> 17 Motion by Commissioner Sparks, second by Commissioner Faust, to adopt Resolution <br /> 18 02-011, re: Considering purchase agreement with Culvers. <br /> 19 <br /> 20 Motion carried unanimously. <br /> 21 <br /> 22 C. H.R.A Resolution 02-012, re: Authorize the Chair and Executive Director to enter into a <br /> 23 Redevelopment Agreement relating to the Kenzie Terrace redevelopment project. <br /> 24 Morrison introduced Stacie Kvilvang, Ehlers and Associates, who came forward to review <br /> 25 the two proposals. <br /> 26 <br /> 27 The first proposal was from LaNel Financial, who currently owns the Autumn Woods <br /> 28 Apartments. The second was from Larry Beach Construction, who is a single-family <br /> 29 residential developer. <br /> 30 <br /> 31 Kvilvang indicated that the recommendation from Ehlers was to work with LaNel <br /> 32 Financial for the following reasons: <br /> 33 • LaNel Financial is an existing resident and partner in the City and the City <br /> 34 Council has been pleased with their performance and product. <br /> 35 • Design concept is superior in that it will bring additional open/green space to the <br /> 36 project. <br /> 37 • High quality design of proposed development. <br /> 38 0 Development will generate a higher, future tax base for the City. <br /> 39 • Higher purchase price of land and financial capability to complete development. <br /> 40 <br /> 41 Commissioner Sparks asked about the style of the structure proposed by LaNel. Kvilvang <br /> 42 indicated that, essentially, it was a rental unit. She added that they were single story, as <br /> 43 well. <br /> 44 <br />