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Housing and Redevelopment Authority Meeting Minutes <br />May 24, 2022 <br />Page 2 <br />5 <br />6 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 V. <br />28 <br />1. Closing on the sale of the "bowling alley" parcel to Interstate next week after the HRA <br />approves this amendment. <br />2. As a condition to the "bowling alley" parcel closing, Interstate must confirm that it holds fee <br />title to the Node parcel to subsequent transfer to the HRA, if the HRA elects. <br />3. The HRA has until June 30 to complete its due diligence on the Node parcel. It can elect6 to <br />terminate its right/obligation to purchase the Node parcel at any time before June 30. <br />4. If the HRA acquires the Node parcel, closing will be no later than July 15. <br />Staff recommends approval of the amendment to allow the closing on the "bowling alley" parcel <br />to proceed and allow time for due diligence to be complete on the "entrance node" parcel for a <br />future closing separately. <br />Commissioner Jenson asked if there is any risk in the node being close to the gas station. City <br />Attorney Sellke, stated there is no risk to the seller in selling the bowling alley property. No <br />representation has been made regarding the parcel and it is being sold in as is condition. <br />Commissioner Randle asked if there weren't some environmental issues where Bremer Bank is <br />currently. Executive Director Yunker stated the City's due diligence is on the entrance node. <br />Motion by Commissioner Jenson, seconded by Commissioner Walker, to approve HRA <br />Resolution 22-07 — Approving the First Amendment to the Land Swap Agreement between <br />Interstate Development Corp, Lowry Multifamily LLC, Lowry Retail LLC,_Bremer Bank and the <br />HRA of St. Anthony. <br />STAFF REPORTS — NONE. <br />29 VI. H.R.A. COMMISSIONER COMMENTS — NONE. <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />VII. INFORMATION AND ANNOUNCEMENTS — NONE. <br />VIII. ADJOURNMENT. <br />Chair Stille adjourned the meeting at 7:30 p.m. <br />Respectfully submitted, <br />Debbie Wolfe <br />Timesaver Off Site Secretarial, Inc. <br />42 ATTEST: <br />43 <br />44 <br />City <br />Motion carried 5-0. <br />