PL PACKET 05171983 (2) - Laserfiche WebLink

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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 Enrooth 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-,p•ack-et , "The --P•lanningT:Consultant noted that- the. contract-- had been signed by the parent company. of Kraus-Anderson, Inc. , which he perceived would be more beneficial- to the- City than. j ust'h-aving the real estate subsidiary a partner. Mr. Soth indicated he had in his possession the - $100 ,0.00 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 , 000 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. S.aliterman- 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--adopt,--the r-esolu.t,ion--which-.au:thor-izes the execu,tion,.o,f.._the. Re.develop- ment. Agreement with the Arkand.--.Partnership. • H.R.A. RESOLUTION 83-003 AliTNnRIZING THE REDEVELOPMENT CONTRACT Motion carried unanimously.