HomeMy WebLinkAboutHRA MINUTES 06082004I t
1 CITY OF ST. ANTHONY
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
4
5 JUNE 8, 2004
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7 CALL TO ORDER
8 Chair Hodson called the meeting to order at 8:15 p.m.
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10 ROLL CALL.
11 Commissioners present: Chair Hodson; Commissioners Stille, Thuesen, Faust and Horst.
12 Commissioners absent: None.
13 Also present: Executive Director Michael Momson.
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15
16 1. APPROVAL OF JUNE, 2004, H.R.A. AGENDA.
17 Motion by Commissioner Horst, seconded by Commissioner Stille, to approve the June 8, 2004,
18 Housing and Redevelopment Authority Agenda as presented.
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20 Motion carried unanimously.
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22 I1. CONSENT AGENDA.
23 Motion by Commissioner Stille, seconded by Commissioner Thuesen, to approve the Consent
Agenda, which consisted of:
01 A. H.R.A. Meeting, Minutes of May 25, 2004: and
26 B. Claims.
27
28 Motion carried. Abstained Horst
29
30 111. PUBLIC HEARINGS.
31 None.
32
33 IV. GENERAL POLICY BUSINESS OF THE H.R.A.
34 1. Consider Resolution 04-008: Aporovine a policy on Tax Exempt Financing_
35 Ms. Stacie Kvilvang, Ehlers & Associates, Inc. stated Dominium had requested that the City and
36 the City's Housing and Redevelopment Authority (HRA) assist them in obtaining private activity
37 revenue bonds from the State of Minnesota for the purposes of developing 260 units of rental
38 housing in the Northwest Quadrant Redevelopment Area. The City and the HRA have assisted
39 both rental housing developments and industrial developments with obtaining these bond funds
40 from the State in the past. However, the City and HRA have never had a formal policy on what
41 type and how much of a fee they would charge for assisting developers in pursuing these types of
42 bonds.
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44 Commissioner Stille asked if one percent was market rate, low, high, or average. Ms. Kvilvang
doreplied one percent was at the high end.
47 Motion by Commissioner Stille, seconded by Commissioner Faust, to adopt Resolution 04-008;
48 Approving a policy on Tax Exempt Financing as presented.
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Housing and Redevelopment Authority Meeting Minutes
•June 8, 2004
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Motion carried unanimously.
2. Consider Resolution 04-009; Approving Fannie Mae Financing for Sliver Lake Village.
Ms. Stacie Kvilvang, Ehlers & Associates, Inc., stated on December 19, 2003, the City Council
and Housing and Redevelopment Authority (HRA) executed a Development Agreement with
Apache Redevelopment, LLC for the redevelopment of the above referenced area. According to
Section 12.11 of the Development Agreement, the City and/or HRA would be securing an
interim loan in the amount of $3,350,000 from Fannie Mae, to assist in acquiring three (3)
commercial property where the for -sale housing would be developed.
Motion by Commissioner Faust, seconded by Commissioner Thuesen, to adopt Resolution 04-
009; Approving Fannie Mae Financing for Silver Lake Village as presented.
V. STAFF REPORTS.
None.
VI. H.R.A. COMMISSIONER COMMENTS.
None.
VII. INFORMATION AND ANNOUNCEMENTS.
None.
VIII. ADJOURNMENT.
Chair Hodson adjourned the meeting at 8:20 p.m.
Respectfully submitted,
Kathy Altman
TimeSaver Off Site Secretarial, Inc.
Motion carried unanimously.