PL PACKET 05171983 - Laserfiche WebLink

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-3- July, 1984 Sell Phase II Property to Redeveloper • September,. 1984 Start Construction March, 1986 Construction Plans Phase III May, 1986 Sell Phase III Land to Redeveloper June , 1986 Start Construction Phase III The consultant told Mr. Dougherty the Arkell group had been favored over the other firms which had made a proposal because it appeared to the H.R.A. that Arkell had the greatest commitment to developing the entire project with the least risk to the City. He gave the time schedule for submittal of the Letters of Credit and their amounts . Mr. Krier then requested the tentative redevelopment designation to be extended to April 30th, during which period, he said, he is certain an agreement could be reached on the few minor issues which remain to be resolved in the contract and a contract, "which would be equitable for both the City and the redeveloper and which would limit the risks for both parties" , could be executed and acquisition and relocation for Phase 1 property completed. Brad Bjorklund was present to report the minutes of the March 15th Planning Commission meeting and he read the two motions which the Commission had passed which indicated the Commissioners had found the redevelopment plans for Phase 1 to be consistent with the City ' s Compre- hensive Plan for that area and recommended the H.R.A. proceed with the • sale of property necessary for Phase 1 after a developer ' s agreement had been executed. Mr. Bjorklund also reported the Commission would be holding a public hearing on the preliminary Planned Unit Development Plan for the project May 17 , 1983. The hearing was closed at 8 : 00 P.M. Motion by Secretary/Treasurer Marks and seconded by Vice Chairman Letourneau to instruct the Attorney to prepare the necessary resolutions for approving the sale of the property for Phase 1 of the Kenzie Ter- race Redevelopment Project and authorizing the execution of the Redev- elopment Contract with the joint venture redeveloper . Motion carried 'unanimously. Motion by Secretary/Treasurer Marks and seconded by Commissioner Enrooth to extend the tentative redevelopment designation of the Arkell-Kraus Anderson group to April 30 , 1983 as recommended by the H.R.A. Planning Consultant. Motion carried unanimously . Mr. Gilligan who was substituting for the vacationing Bill Soth, was introduced to the H. R.A. Prior to- making a motion for adjournment at 8 :02 P.M: , the Secretary/ • Treasurer told those persons who were present that he perceives the H.R.A. members are very pleased to see the redevelopment project, "becoming a reality at last" and foretold that, "You will probably see a building f_-�.,_;-_cjoing up down there before the year is up. His motion to adjourn was seconded by Commissioner Enrooth and passed unanimously. Respectfully submitted, Helen Crowe, Secretary