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Housing and Redevelopment Authority Meeting Minutes <br />September 14, 2021 <br />Page 2 <br />1 HRA approved a previous version of the land swap agreement at its meeting on October 27, <br />2 2020. <br />3 <br />4 Subsequent to the approval, Trident Development, LLC withdrew from the project, and the <br />5 closing of the land swap did not take place. After continuing discussions with Bremer Bank, <br />6 N.A. it was determined that the best course of action was to terminate the agreement until such <br />7 time as a new third-party can be identified to continue the project. The notice of termination was <br />8 presented to the HRA at their March 9, 2021 meeting. <br />9 <br />10 A new developer has joined the three-party arrangement and has re-engaged the City on the land <br />11 swap agreement. Since the previous version was approved, additional site clean-up costs have <br />12 been identified on the 2654 Kenzie Terrace site, and the developer has proposed that the City <br />13 share in the costs for remediation of approximately 50%, and not to exceed $60,000. Otherwise, <br />14 the agreement is unchanged from the previous version in substance. <br />15 <br />16 Staff recommends approval of Resolution 21-07, as the substantive aspects of the agreement are <br />17 unchanged, and sharing of the remediation costs is reasonable. The City Attorney has reviewed <br />18 the agreement and advises that it can be approved at this early state, as there are sufficient <br />19 contingencies in place to protect the City. <br />20 <br />21 Motion by Commissioner Webster, seconded by Commissioner Walker, to approve Resolution <br />22 21-07; a Resolution Approving the Land Swap Agreement between Bremer Bank and the <br />23 Housing and Redevelopment Authority of St. Anthony. <br />24 <br />25 Motion carried 5-0. <br />26 <br />27 V.STAFF REPORTS – NONE. <br />28 <br />29 VI.H.R.A. COMMISSIONER COMMENTS – NONE. <br />30 <br />31 VII.INFORMATION AND ANNOUNCEMENTS – NONE. <br />32 <br />33 VIII. ADJOURNMENT. <br />34 <br />35 Chair Stille adjourned the meeting at 8:30 p.m. <br />36 <br />37 <br />38 Respectfully submitted, <br />39 Debbie Wolfe <br />40 TimeSaver Off Site Secretarial, Inc. <br />41 <br />42 <br />43 ATTEST: ________________________________Chair <br />44 City Clerk <br />45