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Housing and Redevelopment Authority Meeting Minutes <br /> February 28, 1995 <br /> Page 2 <br /> 1 Mornson reported there were two local parties interested in purchasing the American • <br /> 2 Monarch building. He stated TIF assistance was requested; estimated $125,000.00 for a <br /> 3 rail spur or purchase assistance with a possible$600,000.00 increase in valuation. <br /> 4 Mornson indicated a new TIF district would probably need to be established,which <br /> 5 would result in LGA/HACA loss. <br /> 6 Mornson reported the School of Massage Therapist,presently located on Lowry Avenue <br /> 7 had expressed interest in the St. Anthony Lanes, Inc., Bowling Alley with a possible <br /> 8 $300,000.00 increase in valuation. He stated TIF assistance had been requested and <br /> 9 would result in the same problem as the American Monarch building. <br /> 10 Mornson reported there had been a lot of n6gotiation regarding the Schroeder property. <br /> 11 Ranallo directed Executive Director Mornson to research to see if there had been a <br /> 12 proposal made to buy the Schroeder house, if Schroeder did indeed want to sell his house, <br /> 13 and if the price of the additional square footage offered to Schroeder was a reasonable <br /> 14 amount. <br /> 15 Fleming stated she had been in contact with Mr. Schroeder and he was very concerned <br /> 16 regarding the timeline of the negotiations and would like to see the issue resolved. <br /> 17 Mornson reported there was a proposal from the developer of Autumn Woods to develop • <br /> 18 a.senior assisted housing project. It is estimated to be a 50 unit building on the property <br /> 19 where Kentucky Fried Chicken and three or four homes are located. He stated he thought <br /> 20 this would be a good project for this location. <br /> 21 Mornson reported that Kim Moore-Sykes is analyzing the current TIF bonds to determine <br /> 22 what bonds are left and the geographical boundaries of the bonds. When the report is <br /> 23 compiled, it will be more evident which projects are most feasible. <br /> 24 Consensus was reached that all the projects were appropriate. <br /> 25 VII. ADJOURNMENT. <br /> 26 Motion by Marks, second by Enrooth to adjourn the meeting at 8:34 P.M. <br /> 27 Motion carried unanimously. <br /> 28 Respectfully submitted; <br /> 29 Lorri Kopischke <br /> 30 TimeSaver Off Site Secretarial <br /> • <br />