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Housing and Redevelopment Authority Meeting Minutes <br />May 24, 2022 <br />Page 2 <br />1.1 Closing on the sale of the “bowling alley” parcel to Interstate next week after the HRA <br />2 approves this amendment. <br />2.3 As a condition to the “bowling alley” parcel closing, Interstate must confirm that it holds fee <br />4 title to the Node parcel to subsequent transfer to the HRA, if the HRA elects. <br />3.5 The HRA has until June 30 to complete its due diligence on the Node parcel. It can elect6 to <br />6 terminate its right/obligation to purchase the Node parcel at any time before June 30. <br />4.7 If the HRA acquires the Node parcel, closing will be no later than July 15. <br />8 <br />9 Staff recommends approval of the amendment to allow the closing on the “bowling alley” parcel <br />10 to proceed and allow time for due diligence to be complete on the “entrance node” parcel for a <br />11 future closing separately. <br />12 <br />13 Commissioner Jenson asked if there is any risk in the node being close to the gas station. City <br />14 Attorney Sellke, stated there is no risk to the seller in selling the bowling alley property. No <br />15 representation has been made regarding the parcel and it is being sold in as is condition. <br />16 <br />17 Commissioner Randle asked if there weren’t some environmental issues where Bremer Bank is <br />18 currently. Executive Director Yunker stated the City’s due diligence is on the entrance node. <br />19 <br />20 Motion by Commissioner Jenson, seconded by Commissioner Walker, to approve HRA <br />21 Resolution 22-07 – Approving the First Amendment to the Land Swap Agreement between <br />22 Interstate Development Corp, Lowry Multifamily LLC, Lowry Retail LLC, Bremer Bank and the <br />23 HRA 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 7:30 p.m. <br />36 <br />37 Respectfully submitted, <br />38 Debbie Wolfe <br />39 TimeSaver Off Site Secretarial, Inc. <br />40 <br />41 <br />42 ATTEST: ________________________________Chair <br />43 City Clerk <br />44