HomeMy WebLinkAboutHRA MINUTES 10231984X
CITY OF ST. ANTHONY
• HOUSING AND REDEVELOPMENT AUTHORITY MINUTES
October 23, 1984
The meeting was called to order by Chairman Sundland at 8:55 P.M.
Present for roll call: Sundland, Vice Chair Enrooth, Secretary/Treasurer Marks,
and Commissioners Ranallo and Makowske.
Also present: David Childs, Executive Director; and Richard Krier of the Derrick
Companies, Consultant.
Motion by Commissioner Ranallo and seconded by Secretary/Treasurer Marks to approve
as submitted the minutes of the Housing and Redevelopment Authority meeting held
September 25, 1984.
Motion carried unanimously.
Motion by Commissioner Ranallo and seconded by Vice Chair Enrooth to approve
payment of $175.00 to Dorsey & Whitney for legal services rendered during August,
1984, related to the supplemental agreement for the 202 project and the report
to the auditors.
Motion carried'unanimously.
• The Executive Director had informed the H.R.A. members in his October 19th memorandum
that the Consultant had concluded, after comparing the property, reuse, and fixture
appraisals, and relocation estimate for the Walbon property with the cash flows run
by the Springsted Company in June, that the proposed redevelopment of the Walbon
property at 33rd and Old Highway 8 for townhomes to be feasible and Mr^Krier had
recommended the H.R.A. begin negotiationsth the W
wialbons. In his memo, Mr. Childs
had listed the six major steps he perceived the H.R.A. would have to take to pro-
ceed with the project. --
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The Consultant was present and first congratulated the H.R.A. on being selected for
?- 202 funding for their posed senior housing project on_Kenzie Terrace, which
Mr-Krier indicated, he perceived to be a major accomplishment for the community.
A brief discussion ensued related to what effect the 202 project and the Walbon
redevelopment might have on the securing of construction financing for the Kenzing-
ton project. The H.R.A. Consultant indicate3"he believes construction financing for
the Kenzington project would be made available within the next few weeks but he did
not perceive either the 202 project or the Walbon development could have much
effect on securing that financing, since the major objection from financial institu-
tions had been their disappointment that they could anticipate so little mortgage
financing since but one of the_6O_prospective condominium buyers had indicated
they intend to pay cash. The most recent meeting wifh one of those insfitufions`had
been rescheduled because one of the bankers was out of town, Mr. Childs said.
Mr. Krier discussed various aspects of the memorandum to
distributed at the start of the meeting in which he had
project; reported on the real estate valuation set. -for t
the action he N-.R:A. should take to proceed with the pr
the H.R.A. which he had
described the Walbon
he property and recommended
oiect. The Consultant also
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told Commissioner Makowske he would see what he could find out about the financing
for the cooperative housing project which is underway in the Lee School building
in Robbinsdale.
Motion by Commissioner Ranallo and seconded by the Secretary/Treasurer to authorize
the Executive Director to proceed with the Walbon Redevelopment Project by directing
a review appraisal and scheduling negotiations with the property owner based on
that appraisal, with an H.R.A.- work session to be called whenever Mr. Childs deems
it necessary to discuss those negotiations.
Motion carried unanimously.
The Executive Director reported he had tentatively scheduled a meeting with the
property owners the following afternoon.
Motion by Secretary/Treasurer Marks and seconded by Vice Chair Enrooth to adjourn
the St. Anthony Housing and Redevelopment Authority meeting at 9:08 P.M.
Motion carried unanimously.
•
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Respectfully submitted,
Helen Crowe, Secretary