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CITY OF ST. ANTHONY <br />HOUSING AND REDEVELOPMENT AUTHORITY MEETING <br />FEBRUARY 14, 2006 <br />5 CALL TO ORDER. <br />6 Chair Faust called the meeting to order at 8:42 p.m. <br />7 <br />8 ROLL CALL. <br />9 Commissioners present: Chair Faust; Commissioners Gray, Horst, and Stille. <br />10 Commissioners absent: Commissioner Thuesen. <br />11 Also present: Executive Director Michael Morrison and City Attorney Jerome <br />12 Gilligan. <br />13 <br />14 <br />15 I. APPROVAL OF FEBRUARY 14, 2006 H.R.A. AGENDA. <br />16 Motion by Commissioner Horst, seconded by Commissioner Stille, to approve the February 14, <br />17 2006 Housing and Redevelopment Authority Agenda as presented. <br />18 <br />19 Motion carried unanimously. <br />20 <br />21 H. CONSENT AGENDA. <br />22 Motion by Commissioner Horst, seconded by Commissioner Gray, to approve the Consent <br />23 Agenda, which consisted of- <br />24 A. H.R.A. Meeting Minutes of January 10 2006, <br />25 B. Claims. <br />26 <br />27 Motion carried unanimously. <br />28 <br />29 III. PUBLIC HEARINGS. <br />30 None. <br />31 <br />32 IV. GENERAL POLICY BUSINESS OF THE H.R.A. <br />33 A. H.R.A. Resolution 06 -006; Authorize and increase in the principal amount of Interf ind <br />34 loans for Tax Increment Financing district no 3 -5 Stacie Kvilvang Ehlers & Associates <br />35 presenting. <br />36 Ms. Kvlivang stated the City's Housing and Redevelopment Authority (HRA) is overseeing the <br />37 administration and development within this TIF District. On June 14, 2005, the HRA approved <br />38 an interfund loan in an amount up to $200,000 for various administrative and capital <br />39 expenditures in TIF District 3 -5, in connection with the Northwest Quadrant Redevelopment <br />40 Project. To date, the HRA has not advanced any funds to the TIF District under the Prior Loan <br />41 Resolution. However, the HRA anticipates it will need to advance funds to the District to pay for <br />42 various project costs in excess of the $200,000. <br />43 <br />44 Councilmember Stille asked what the maturity date is on the loan. Mr. Gilligan explained that <br />45 this is an amendment to the existing resolution. The loan had to be repaid once there was <br />46 available tax increment on hand. It is when the cash flow is fluent. It is not a revolving loan. He <br />47 noted the terms are spell out in the resolution. <br />48 <br />