HomeMy WebLinkAboutHRA MINUTES 09261989]. CITY OF ST. ANTHONY
• HOUSING AND REDEVELOPMENT AUTHORITY
3 MINUTES
4 September 26, 1989
5 The meeting was called to order by Chair Sundland at 9:01 P.M.
6 ROLL CALL
7 Present: Sundland, Marks, Ranallo, Enrooth, Makowske.
8 Also present: Sue VanderHeyden, Acting Executive Director
9 William Soth, H.R.A. Attorney
10 AUGUST 8. 1989 H.R.A. MINUTES
11 Motion by Ranallo, seconded by Makowske to approve as submitted,
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Motion carried unanimously.
14 David Newman, Attorney for Nedegaard Construction Company, Inc., who had
10takenover as Developer of the Project from Evergreen Development,
reported he and Jerry Gilligan of the Dorsey & Whitney Law Firm had
agreed on several modifications in the Redevelopment Agreement in the
18 agenda packet. Interest on the Tax Increment Revenue Note would be
19 reduced from 12% to 10.1% and the Note would be written for no more than
20 $267,000.00. Mr. Soth confirmed that those changes had been made on the
21 signature copies of the Redevelopers Agreement proposed for execution
22 that evening.
23 Redevelopment Plan, Tax Increment Financing Plan
24 Motion by Ranallo, seconded by Enrooth to adopt H.R.A. Resolution 89-
25 006.
26 H.R.A. RESOLUTION 89-006
27 A RESOLUTION RELATING TO REDEVELOPMENT PLAN FOR
28 REDEVELOPMENT PROJECT AREA NO. 2, RAMSEY COUNTY,
29 AND THE REDEVELOPMENT PROJECT TO BE UNDERTAKEN
30 PURSUANT THERETO AND TAX INCREMENT FINANCING PLAN FOR TAX
31 INCREMENT FINANCING DISTRICT NO. 2, RAMSEY COUNTY;
32 APPROVING REDEVELOPMENT PLAN FOR REDEVELOPMENT
33 PROJECT AREA NO. 2, RAMSEY COUNTY, AND THE
34 REDEVELOPMENT PROJECT TO BE UNDERTAKEN THERETO,
35 TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT
40 FINANCING DISTRICT NO. 2, RAMSEY COUNTY, AND
1 ESTABLISHMENT OF TAX
NO. 2, RAMSEY
THE APPROVAL
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5 Redevelopment Agreement
INCREMENT FINANCING DISTRICT
COUNTY, AND REQUESTING
OF THE CITY COUNCIL
Notion carried unanimously.
6 Mr. Newman promised that the schedules providing the legal description
7 of the project property and improvements to the property as well as the
8 Timetable for Completion of the Project would be provided the next day.
9 He explained that the reason they weren't ready that evening was because
10 he and Mr. Nedegaard had just returned that afternoon from Charleston,
11 South Carolina where Mr. Nedegaard is also the developer of a 400 unit
12 housing development which was severely damaged by Hurricane Hugo. The
13 Attorney indicated, however, that the soil corrections on the project
14 would be commenced the following Friday and much of the work completed
15 this fall. He promised that the balance of the work would be completed
16 by June 1, 1990 and that the entire project would be completed by
17 December 31, 1990. He also assured Councilmember Makowske that portions
18 of the project would be completed before December.
19 Mr. Nedegaard indicated the insurance and liability documents had been
20 sent to Norwest Bank and copies would be provided for the City as well
21 as the Declaration of Covenants and Restrictions for Exhibit B.
Motion by Marks, seconded by Makowske to authorize the execution of the
Redevelopment Agreement with Nedegaard Construction Company, Inc.
24 subject to the inclusion of all necessary schedules and exhibits to be
25 reviewed by the H.R.A. Attorney.
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27 Indemnity Agreement
Motion carried unanimously.
28 The H.R.A. Attorney indicated that the construction company which is the
29 developer and Mr Nedegaard, personally would indemnify the City and the
30 H.R.A. against any claims related to the Agreement.
31 Motion by Marks, seconded by Ranallo to approve execution of the
32 Indemnity Agreement with correct spelling of the City name.
33
34 Tax Increment Revenue Note
Motion carried unanimously.
35 Mr. Soth affirmed that the signature copies to be executed that evening
36 contained the amount of $267,000.00 to be held by Norwest Bank and paid
37 out for soil corrections as tax increments come in from the project.
38 The number of the Resolution was changed to 89-005.
Motion by Marks, seconded,by Enrooth to adopt H.R.A. Resolution 89-005.
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6 AD
H.R.A. RESOLUTION 89-003
A RESOLUTION APPROVING THE TRANSFER OF LAND
FROM THE ST. ANTHONY HOUSING AND REDEVELOPMENT
AUTHORITY TO NEDEGAARD CONSTRUCTION COMPANY
Motion carried unanimously.
7 Motion by Marks, seconded by Enrooth to adjourn the St. Anthony Housing
8 and Redevelopment Authority meeting at 9:25 P.M.
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10 Respectfully submitted,
11 Helen Crowe, Secretary
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13
M
Motion carried unanimously.