Laserfiche WebLink
1 <br />Housing and Redevelopment Authority Meeting Minutes <br />February 28, 1995 <br />Page 2 <br />•1 Momson reported there were two local parties interested in purchasing the American <br />2 Monarch building. He stated TIF assistance was requested; estimated $125,000.00 for a <br />3 rail spur or purchase assistance with a possible $600,000.00 increase in valuation. <br />4 Momson indicated a new TIF district would probably need to be established, which <br />5 would result in LGA/HACA loss. <br />6 Momson reported the School of Massage Therapist, presently located on Lowry Avenue <br />7 had expressed interest in the St. Anthony Lanes, Inc., Bowling Alley with a possible <br />8 $300,000.00 increase in valuation. He stated TIF assistance had been requested and <br />9 would result in the same problem as the American Monarch building. <br />10 Momson reported there had been a lot of negotiation regarding the Schroeder property. <br />11 Ranallo directed Executive Director Momson to research to see if there had been a <br />12 proposal made to buy the Schroeder house, if Schroeder did indeed want to sell his house, <br />13 and if the price of the additional square footage offered to Schroeder was a reasonable <br />14 amount. <br />15 Fleming stated she had been in contact with Mr. Schroeder and he was very concerned <br />16 regarding the timeline of the negotiations and would like to see the issue resolved. <br />*7 Momson reported there was a proposal from the developer of Autumn Woods to develop <br />8 a senior assisted housing project. It is estimated to be a 50 unit building on the property <br />19 where Kentucky Fried Chicken and three or four homes are located. He stated he thought <br />20 this would be a good project for this location. <br />21 Momson reported that Kim Moore -Sykes is analyzing the current TIF bonds to determine <br />22 what bonds are left and the geographical boundaries of the bonds. When the report is <br />23 compiled, it will be more evident which projects are most feasible. <br />24 Consensus was reached that all the projects were appropriate. <br />25 VII. ADJOURNMENT. <br />26 Motion by Marks, second by Enrooth to adjourn the meeting at 8:34 P.M. <br />27 Motion carried unanimously. <br />28 Respectfully submitted, <br />29 Lorri Kopischke <br />30 TimeSaver Off Site Secretarial <br />0 <br />