HomeMy WebLinkAboutHRA MINUTES 09252007�l CITY OF ST. ANTHONY
2 HOUSING AND REDEVELOPMENT AUTHORITY MEETING
3 SEPTEMBER 25, 2007
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6 CALL TO ORDER
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8 Chair Faust called the meeting to order at 7:46 p.m.
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10 ROLL CALL
I I Commissioners present: Chair Faust; Commissioners Gray, Horst, Stille, and Thuesen.
12 Commissioners absent: None
13 Also present: Executive Director Michael Mornson
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16 I. APPROVAL OF SEPTEMBER 25, 2007 H.R.A. AGENDA
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18 Motion by Commissioner Thuesen, seconded by Commissioner Stille, to approve the September
19 25, 2007 Housing and Redevelopment Authority Agenda as presented.
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21 Motion carried unanimously
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23 11. CONSENT AGENDA
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A. Approve the September 11, 2007, H.R.A. Minutes.
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B. Claims
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Motion by Commissioner Stille, seconded by Commissioner Horst, to approve the September 11,
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2007 Consent Agenda as presented.
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Motion carried unanimously.
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33 111.
PUBLIC HEARINGS
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None
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37 IV.
GENERAL POLICY BUSINESS OF THE H.R.A.
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A. Resolution 07-011 : Sixth Amendment to the Development Agreement for Silver Lake
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Villape.
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Ms. Stacy Kvilvang, Ehlers & Associates, reported that on November 14, 2006, the City
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approved a fifth amendment to the Redevelopment Contract with Apache Redevelopment LLC.
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She stated the amendment extended the dates to commence construction of the residential condo
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buildings by one year to September I, 2008 for building #3 and September I, 2009 for building
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#4, and it split the TIF PAYG note into two notes.
Ms. Kvilvang reported that the developer is working with their lender on the financing package
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for building #3 and anticipates beginning construction by the summer of 2008 and beginning
• Housing and Redevelopment Authority Meeting Minutes
September 25, 2007
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construction of building #4 by the summer of 2009. She reported that, based upon this new
schedule, the developer has requested that the dates approved as part of the Sixth Amendment be
changed to September I, 2008 for building #3 and September I, 2009 for building #4; a one year
delay.
Ms. Kvilvang stated that due to the increased value, this additional one year delay would not
jeopardize or decrease the amount of TIF that would be needed to satisfy the required PAYG TIF
Notes pursuant to the original Development Agreement ($3,432.758).
Motion by Councilmember Thuesen, seconded by Councilmember Stille, to approve Resolution
07-067. a Resolution Relating to a Sixth Amendment to Redevelopment Agreement by and
among the City of Saint Anthony, Minnesota, The Housing and Redevelopment Authority of the
City of Saint Anthony, Minnesota, and Apache Redevelopment, LLC (The "Developer"), dated
December 19, 2003.
4 Ayes, 0 Nays I Abstention (Horst). Motion carried.
V. STAFF REPORTS
None
VI. H.R.A. COMMISSIONER COMMENTS
None.
VII. INFORMATION AND ANNOUNCEMENTS
None
Vlll. ADJOURNMENT
Chair Faust adjourned the meeting at 7:51 p.m.
Respectfully submitted,
Dianna Wise
TimeSaver Off Sim Secrelarial, Inc.