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Housing and Redevelopment Authority Meeting Minutes <br />April 23, 1996 <br />• Page 2 <br />1 Motion by Marks, second by Faust to approve Resolution H.R.A. 1996-001, approving <br />2 execution and delivery of Redevelopment Agreement and other agreements in connection <br />3 with redevelopment of.Apache Plaza Shopping Center. <br />Motion carried unanimously. <br />5 VII. H.R.A. RESOLUTION 1996-002, RE: APPROVING SATISFACTION OF <br />6 CHANDLER PLACE TIF LOAN BY PAYMENT OF $600,000 AND <br />7 AUTHORIZING $100,000 OF TIF ASSISTANCE FOR THE ST. ANTHONY <br />8 HEALTH CARE EXPANSION, IF THAT OCCURS. <br />9 City Attorney Gilligan explained a TIF loan was extended in 1985 in connection with the <br />10 1985 bond and construction of Chandler Place. This proposal will accept $600,000 in <br />11 full satisfaction of the loan. HRA also agrees to provide $100,000 from tax increment <br />12 revenue from the TIF District to pay a portion of the costs of the expansion of the St. <br />13 Anthony Health Center if it occurs. <br />14 Motion by Marks, second by Enrooth to approve H.R.A. Resolution 1996-002, approving <br />15 execution and delivery of First Amendment to Development Agreement relating to <br />16 Chandler Place Project. <br />is Motion carried unanimously. <br />18 Mayor Ranallo asked when the bonds would be let out for CUB Foods. Mr. Gilligan <br />19 explained if the resolution is authorized on May 14, 1996, the bonds will be sold in June. <br />20 Closing would occur two weeks after that and payment would be made near the end of <br />21 June. <br />22 The Bergrens were in attendance at this meeting. <br />23 VII. ADJOURNMENT. <br />24 Motion by Marks, second by Enrooth to adjourn the meeting at 7:42 P.M. <br />25 Motion carried unanimously. <br />26 Respectfully submitted, <br />27 Lorri Kopischke <br />28 TimeSaver Off Site Secretarial <br />0 <br />