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1 H.R.A. MEETING • <br /> 2 MARCH 24 , 1992 <br /> 3 PAGE 2 <br /> 4 <br /> 5 <br /> 6 B. American National Bank <br /> 7 <br /> 8 Motion by Fleming, second by Wagner to approve payment in <br /> 9 the amount of $177 . 32 to American National Bank for fees <br /> 10 and expenses from August 21, 1991 to February 20 , 1992 <br /> 11 regarding the General Obligation Refunding Bonds . <br /> 12 <br /> 13 Motion carried unanimously <br /> 14 <br /> 15 <br /> 16 <br /> 17 A seven minute recess was taken so the published time for <br /> 18 opening of the Public Hearing could be complied with. <br /> 19 <br /> 20 <br /> 21 6 . PUBLIC HEARING <br /> 22 <br /> 23 A. Amendment to the Kenzie Terrace Redevelopment Plan <br /> 24 <br /> 25 Chairperson Ranallo opened the Public Hearing at 8 : 31 <br /> 26 p.m. <br /> 27 <br /> 28 The Chairperson stated that the Public Hearing is to <br /> 29 consider the amendment to the Kenzie Terrace <br /> 30 Redevelopment Plan and the Tax Increment Financing Plan. <br /> 31 <br /> 32 Mr . Brewer, representing the developer, Lang-Nelson, <br /> 33 stated his firm is supportive of the amendment . <br /> 34 <br /> 35 Noting that only three members of the Housing and <br /> 36 Redevelopment Authority were present , the Exective <br /> 37 Director advised that comments can be taken at this <br /> 38 hearing and then it can be continued. <br /> 39 <br /> 40 Chairperson Ranallo inquired how many votes were required <br /> 41 by the City Council to approve the amendment to the Plan. <br /> 42 The City Attorney thought it was three votes but he will <br /> 43 check this before, the next Council Meeting where the <br /> 44 issue will be addressed. <br /> 45 <br /> 46 Hennepin County Commissioner Makowske has indicated her <br /> 47 support for this amendment . <br /> 48 <br /> 49 The Chairperson noted he had received a call from a <br /> 50 resident who requested an explanation of the $1 ,200 per <br /> 51 unit tax . He stated that since the $1 , 200 tax was applied <br /> 52 the Legislature has changed the formula for taxing • <br /> 53 multiple dwellings and this tax could increase to $1 , 500 <br /> 54 per unit . <br />