HRA MINUTES 04221986 - Laserfiche WebLink

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CITY OF ST. ANTHONY HOUSING AND REDEVELOPMENT AUTHORITY MINUTES April 22, 1986 The meeting was called to order by Chairman Sundland at 9:11 P.M. Present for roll call: Sundland, Vice Chair Enrooth, Secretary/Treasurer Marks, and Commissioners Makowske and Ranallo. Also present: David Childs, Executive Director; and, William Soth, Attorney. Motion by Secretary/Treasurer Marks and seconded by Commissioner Ranallo to approve as submitted the minutes of the H.R.A. meeting held January 28, 1986. Motion carried unanimously. Motion by Commissioner Makowske and seconded by Vice Chair Enrooth to approve the following claims as listed in the April 22, 1986 H.R.A. agenda packet: $357.55 to the Dorsey & Whitney law firm for legal services rendered during January, 1986 related to the Kenzie Terrace Phase I and Old Highway 8 redevelopment projects; $1,800 to Moody's Investors Service for services rendered in relation to the issuance of $2,125,000 in Minnesota General Obligation Bonds for H.R.A. projects; and • $365 to Dorsey & Whitney for legal services related to the substitution of developers on the Kenzie Terrace Phase I and Kenzie 202 projects. Motion carried unanimously. Mr. Soth indicated he had just returned that morning from a trip to Europe and gave a brief account of that trip before giving his recommendations related to the 9th amendment to the Kenzington project agreement which had been included in the agenda packet. The Attorney said he had no major disagreements with the document which had been drafted by the developers' attorneys, pretty much in accordance with his own suggestions, perceiving it would be essential that the City not approveanything in the way of substitution of developers which could result in the loss of__ 6.6 lev_he erage t $400,00'0 Letter of Credit provided. — --- Mr. Soth indicated he would be meeting with representatives from Arkell and META the following day and expected the amendment approval would probably be handled during the Special Council meeting the Council had scheduled earlier that evening for April 29th. However, he said, no H.R.A. action on the documents would be required that evening because they were only drafts at this point. At the conclusion of the meeting, the Attorney encouraged the H.R.A. members to let him know if they had any concerns related to the age requirements or other stipula- tions in the proposed condominium documents which he said, at one point or another, they would be asked to approve. . The Executive Director reiterated as he had stated in his April 18th memorandum, that theydeveloper anticipated occupancy in the Kenzington shortly after closing and