HRA MINUTES 11131984 - Laserfiche WebLink

Home Browse Search

CITY OF ST. ANTHONY • HOUSING AND REDEVELOPMENT AUTHORITY MINUTES November 13, 1984 The meeting was called to order by Chairman Sundland at 8:50 P.M. Present for roll call: Sundland, Vice Chair Enrooth, and Commissioners Ranallo and Makowske. Absent: Secretary/Treasurer Marks. Also present: David Childs, Executive Director; and Stephen Yurick of Arkell, Developer. Motion by Commissioner Makowske and seconded by Commissioner Ranallo to approve as submitted the minutes for the St. Anthony Housing and Redevelopment Authority meeting held October 23, 1984. Motion carried unanimously. Motion by Commissioner Ranallo and seconded by Vice Chair Enrooth to approve payment to the following, as listed in the November 13, 1984 H.R.A. agenda. $975.00 to Adrian Helgeson Company for the H.R.A. audit from the date of inception, August 25, 1981, to December 31, 1983; • $600.00 to C. R. Pelton & Associates for the Walbon property appraisals; and $175.60 to Dorsey & Whitney for legal services to the H.R.A. during September, 1984. Motion carried unanimously. Mr. Yurick reported a local lender had given preliminary approval to providing the construction financing for the Kenzington condominprot and ium jecthe developer i—ndicated he anticipated a verbal agreement would be reached with that lender the following Thursday, with a signed commitment within a week. Although he was very optomistic the deal would be consumated this time, the developer said, that in view of past disappointments, his firm would not be let- ting up on their pursuit of financing with other institutions, two of whom have indicated a strong interest in the project. However, Mr. Yurick said, it would take between 30 and 60 days to close either of these deals. Kraus -Anderson, the title company, and the site subcontractors have all agreed to commence construction sometime in December if the first negotiation is successful, according to the developer, who said fewer than 10% of the condominium purchasers had withdrawn their option to buy, and he perceives there had been no lessening in community interest in the project during the delay in finding the construction financing. Mr. Yurick told, the Commissioners his firm had a backlog of prospective buyers ready to go once the project is started.