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HRA MINUTES 03111997
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HRA MINUTES 03111997
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Commission/Committee
Commission/Authority Name
Housing Redevelopment Authority
Commission/Committee - Document Type
Minutes
Commission/Committee - Meeting Date
3/11/1997
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23 Liquor Operations Manager Larson asked if this pertained to ATMs. <br />24 Soth stated he was not certain about ATMs but did feel that this restriction <br />25 needed to be removed. Soth also noted that the City would have 30 days to <br />26 back out of the purchase agreement after the date of closing. <br />27 Morrison recommended that the environmental report be pursued and also that <br />28 KKE Architects be retained to perform a Purchase Inspection Report for the <br />29 Tire Plus building at a cost of $750.00. <br />30 <br />Housing and Redevelopment Authority Meeting Minutes <br />31 <br />March 11, 1997 <br />32 <br />• <br />Page 3 <br />and bond or borrow $650,000 to fund this project. The projected profits of the <br />1 <br />2. <br />There are environmental reports which include this property but there <br />2 <br />36 <br />are none that are specific to this property. Soth suggested an <br />3 <br />stated he was concerned that if another opportunity like the Village Commons <br />environmental consultant be asked to update the report and address it to <br />4 <br />the City so that the City will have the protection of that report. <br />5 <br />3. <br />St. Marie Co. and Super Valu have provisions which allow them to <br />6 <br />approve the construction on the site. The original site plan has been <br />7 <br />approved. If the City were to change the site plan, it would require <br />8 <br />additional approval by these two entities. <br />9 <br />4. <br />The City may need to provide a staging area for construction. <br />10 <br />5. <br />The City needs to make it clear that as owners of this property, they do <br />I 1 <br />not want to be part to a significant degree of the common area of the <br />12 <br />shopping center. The Tires Plus building is separate and free standing <br />13 <br />and the owner should not have to pay for costs of the mall or parking <br />14 <br />area accesses which are remote to this location. <br />15 <br />6. <br />There are restrictive covenants which prohibit types of uses on the <br />16 <br />property. This states that the owner of the property will not use the <br />17 <br />property for any use that a tenant of the shopping center has the <br />18 <br />exclusive use. This restriction cannot be agreed to. What can be agreed <br />19 <br />to is that the property will not be used for any current tenant use. Mr. <br />20 <br />Soth stated Midwest Federal has a restriction that states that no other <br />financial institution will be able to do business on the shopping center <br />property. <br />23 Liquor Operations Manager Larson asked if this pertained to ATMs. <br />24 Soth stated he was not certain about ATMs but did feel that this restriction <br />25 needed to be removed. Soth also noted that the City would have 30 days to <br />26 back out of the purchase agreement after the date of closing. <br />27 Morrison recommended that the environmental report be pursued and also that <br />28 KKE Architects be retained to perform a Purchase Inspection Report for the <br />29 Tire Plus building at a cost of $750.00. <br />30 <br />Mayor Ranallo stated he would be voting against this Resolution. He stated he <br />31 <br />did not feel it was in the best interest of the City to take $725,000 out of the <br />32 <br />HRA Fund which was derived through tax increment financing (TIF) districts <br />33 <br />and bond or borrow $650,000 to fund this project. The projected profits of the <br />34 <br />liquor operation are only $60,000 per year. He stated TIF districts were set up <br />35 <br />for redevelopment, not for the purchase of commercial property. He also did <br />36 <br />not feel the City should be in the business of owning commercial property. He <br />37 <br />stated he was concerned that if another opportunity like the Village Commons <br />38 <br />would appear, the City would not have the funds to pursue it. He also noted <br />that the City will be needing a new fire truck and the HRA funds could be used <br />for that purpose by transferring that money to the General Fund. <br />
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