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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <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 <br />28 <br />29 <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 />42 <br />43 <br />44 <br />45 <br />46 <br />47 <br />48 <br />49 <br />CITY OF SF. ANTHONY <br />HRA REGULAR MEETING MINUTES <br />MAY 8, 2012 <br />CALL TO ORDER. <br />Chair Faust called the meeting to order at 7:39 p.m. <br />ROLL CALL. <br />Commissioners present: Chair Faust; Commissioners Gray, Stille, and Roth. <br />Commissioners absent: Commissioner Jenson. <br />Also Present: Executive Director Mark Casey. <br />I. APPROVAL OF MAY 8, 2012, HRA MEETING AGENDA <br />Motion by Commissioner Gray, seconded by Commissioner Roth, to approve the May 8, 2012, <br />Housing and Redevelopment Authority Agenda as presented. <br />Motion carried 4-0. <br />IL CONSENT AGENDA. <br />Motion by Commissioner Stille, seconded by Commissioner Roth, to approve the Consent <br />Agenda, which consisted of: <br />A. H.R.A. Meeting Minutes of April 24, 2012; <br />B. Claims; and <br />C. Adopting the Post Issuance Debt Compliance Policy & Procedures. <br />Motion carried 4-0. <br />III. PUBLIC HEARINGS. <br />None. <br />IV. GENERAL POLICY OF BUSINESS OF THE H.R.A. <br />A. Presentation of the Purchase Agreement/Development Agreement for Dominium <br />(informational only). Stacie Kvilvang, Ehlers & Associates, presenting. <br />Ms. Kvilvang explained the City began discussing this project over one year ago and the City <br />Council adopted a resolution in 2011 supporting Dominium's application to Ramsey County for <br />grant funds. She advised the property in question includes two parcels owned by the I -IRA and <br />one parcel owned by Len Pratt. She indicated Dominium will purchase both parcels for a <br />purchase price of $1,216,000 or $8,000 per unit with the proceeds prorated based on square <br />footage of the parcels or 53% to the City ($643,000). She explained the Development <br />Agreement will be completed by the end of this month and the transaction must close by March <br />1, 2013. She noted it is possible that the purchase price will increase due to lower than <br />1 <br />