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CITY OF ST - ANTHONY_ HOUSING - AND, .R.EDEVELOPMENT AUTHORITY MINUTES NOVEMBER 25 , 1986 The meeting was called to -order at 8:51 P.M. by Chairman- Sundland. Present for roll call : Sundland, Vice .Chair Enrooth, Secretary/Treasurer- Marks, and Commisslioners Ranallo- and Makowske. Also present: David Childs, Executive Secretary William Soth,- H.R.A. Attorney Steven Yurick and -Gary .Tushie,- Project Manager and - Arc.hitect,, .Arkell . ,Deve-lopment Corporat-ion. .0 CTOBE�R 2.8 1-98-6 HO-US I-NG'.. AND REDEVELOPMENT AUTHORITY MINUTE'S Motion by Marks, seconded- by Ranallo to approve as. submitted. Motion carried unanimously. CLAIMS Motion by Ranallo, seconded by Makowske to approve payment of $51 .00 to the Dorsey & Whitney firm for the legal services rendered during- September, 1986. Motion carried unanimously. NEW BUSINESS H.R.A. Approves Agreement wi,th .Arkand Partnership Regardin2 Housing Revenue 'Bonds- For the Kenzie Terrace Redevelopment Project. Staff input: Mr. -Soth read -.the changes:,which,-he had -made-- in the draft- of , the Agreementi which met with :no -object.ions-. from the- H.R.A*, along with a proposed reso-lution- which author,ized thei: execution of that Agreement as fol-lows: * Letter of Credit in the amount required by the- contract; * the funds to- be paid out by the trustee December �l-st go in part to .Piper Jaffray, the i-ssuer and- the- remainder. goes to pay project: costs,:,thez-. devel-oper is -committed to; * the first payment from interest- accrued to the City would therefore be made. on January lst; * the' funds the City receives may be deposited, in investments of no more than 90 days; * the whole effect of the H.R.A. taking over the bonds would only, be upon written notice of the H.R;A. ; if the H-A.A. does take-.over the bonds, . the developers have requested -that the agency obta-in a release from the City. References to the- project as "Building 'C"' were clarified;