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N <br />Housing and Redevelopment Authority Meeting Minutes <br />June 14; 2005 <br />Page 2 <br />Chair Faust noted it is important to highlight that the pay as you go districts are important to <br />decertify as soon as possible. This is a kudo for everyone involved. <br />Mr. Bonniwell noted the other HRA projects and funds including the Tires Plus Fund Balance at <br />$371,413 and the HRA Projects Fund $741,422. <br />17 Mr. Mornson pointed out the Tires Plus lease no longer is in existence and asked if it would <br />8 make sense to eliminate that and combine it with the development fund since the building is no <br />9 longer there. Ile asked if the HRA should make a motion to eliminate that fund and include it <br />10 with the HRA projects funds. <br />11 <br />12 Mr. Bormiwell suggested it be made part of the motion in approving the audit. <br />13 <br />14 Motion by Commissioner Stille, seconded by Commissioner Gray, to adopt H.R.A. Resolution <br />15 05-007, re: A Resolution Approving the Audit of the St. Anthony Housing and Redevelopment <br />16 Authority for the Year Ended December 31, 2004, noting that the Tires Plus building no longer <br />17 exists and the Tires Plus Fund should be eliminated and combined with the Development Fund, <br />18 <br />19 Motion carried €nja,Em mously. <br />20 <br />21 B. [I.R.A. Resolution 05-008 re: AuthorizingInterfund Loan for Advance of Certain Costs <br />2.2 in Connection with Tax Increment, Hnancirm District No. 3-5. <br />23 City Auditor Stuart Boomwell explained this sets up the loan as well as lays out the repayment <br />24 schedule. The 4% interest rate is set by state guidelines. The loan can be repaid from TIF <br />25 revenues. <br />26 <br />27 Motion by Commissioner Horst, seconded by Commissioner Gray, to adopt H.R.A. Resolution <br />28 05-008, re: A Resolution Authorizing Interfund Loan for Advance of Certain Costs in <br />29 Connection with Tax Increment Financing District No. 3-5. <br />30 <br />31 Motion carried unanimously. <br />32 <br />33 V. STAFF REPORTS. <br />34 None. <br />35 <br />36 VI. H.R.A. COMMISSIONER COMMENTS. <br />37 None. <br />38 <br />39 VII. INFORMATION AND ANNOUNCEMENTS. <br />40 None. <br />41 <br />42 VIII. ADJOURNMENT. <br />43 Chair Faust adjourned the meeting at 9:40 p.m. <br />44 <br />