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• ST. ANTHONY VILLAGE HOUSING AND REDEVELOPMENT AUTHORITY <br />SPECIAL MEETING AGENDA <br />5:00 P.M. <br />Friday, August 9, 1985 <br />City Council Chambers <br />A. Call to Order. <br />B. Roll Call. <br />C. Items relating to the Kenzie Terrace Redevelopment Project. <br />1. Seventh Amendment of Redevelopment Contract <br />Summary Description: This Amendment contains the following provisions: <br />a. Extends the deadline for completion of minimum improvements for <br />Phase of the Kenzie Terrace Redevelopment:_Project from JLne 6, 1986 <br />to August 1, 1986'or a 55 day extension. <br />b. Incorporates language relating to minimum improvements which were <br />approved in 1984 by the H.R.A. but which were not incorporated in <br />agreement as an amendment. <br />• c. Provides for no reversion of Phase I for a default on Phases II <br />and III. <br />Recommendation: The Executive Director and H.R.A. Attorney recommend <br />approval of Resolution HRA 1985-003 approving the <br />Seventh Amendment to the Redevelopment Agreement. <br />2. Consent Agreement <br />Summary Description: Would approve the following agreements between -META <br />and Arkand. <br />a. Makes META Arkand's project manager for Phase I. <br />b. META agrees to provide credit enhancement in securing construction <br />financing for Phase I. <br />c. Gives META the option to acquire fee title to Phase I upon the <br />earlier of: <br />1) Approval by H.R.A. of substitution of META as redeveloper, or <br />2) Issuance of certificate of completion for Phase I. <br />d. Gives META the right to purchase Arkand's development authority for <br />Phases II and III, subject to H.R.A. approval and at META's option. <br />• Recommendation: The Executive Director and H.R.A. Attorney recommend <br />approval of Resolution H.R.A. 1985-004 consent agreement <br />relating to agreements between Arkand and META Partnership. <br />