HomeMy WebLinkAboutHRA MINUTES 02142006CITY OF ST. ANTHONY
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
FEBRUARY 14, 2006
5 CALL TO ORDER.
6 Chair Faust called the meeting to order at 8:42 p.m.
7
8 ROLL CALL.
9 Commissioners present: Chair Faust; Commissioners Gray, Horst, and Stille.
10 Commissioners absent: Commissioner Thuesen.
11 Also present: Executive Director Michael Morrison and City Attorney Jerome
12 Gilligan.
13
14
15 I. APPROVAL OF FEBRUARY 14, 2006 H.R.A. AGENDA.
16 Motion by Commissioner Horst, seconded by Commissioner Stille, to approve the February 14,
17 2006 Housing and Redevelopment Authority Agenda as presented.
18
19 Motion carried unanimously.
20
21 H. CONSENT AGENDA.
22 Motion by Commissioner Horst, seconded by Commissioner Gray, to approve the Consent
23 Agenda, which consisted of-
24 A. H.R.A. Meeting Minutes of January 10 2006,
25 B. Claims.
26
27 Motion carried unanimously.
28
29 III. PUBLIC HEARINGS.
30 None.
31
32 IV. GENERAL POLICY BUSINESS OF THE H.R.A.
33 A. H.R.A. Resolution 06 -006; Authorize and increase in the principal amount of Interf ind
34 loans for Tax Increment Financing district no 3 -5 Stacie Kvilvang Ehlers & Associates
35 presenting.
36 Ms. Kvlivang stated the City's Housing and Redevelopment Authority (HRA) is overseeing the
37 administration and development within this TIF District. On June 14, 2005, the HRA approved
38 an interfund loan in an amount up to $200,000 for various administrative and capital
39 expenditures in TIF District 3 -5, in connection with the Northwest Quadrant Redevelopment
40 Project. To date, the HRA has not advanced any funds to the TIF District under the Prior Loan
41 Resolution. However, the HRA anticipates it will need to advance funds to the District to pay for
42 various project costs in excess of the $200,000.
43
44 Councilmember Stille asked what the maturity date is on the loan. Mr. Gilligan explained that
45 this is an amendment to the existing resolution. The loan had to be repaid once there was
46 available tax increment on hand. It is when the cash flow is fluent. It is not a revolving loan. He
47 noted the terms are spell out in the resolution.
48
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Housing and Redevelopment Authority Meeting Minutes
February 14, 2006
Page 2
Motion by Commissioner Gray, seconded by Commissioner Horst, to adopt H.R.A. Resolution
06 -006 re: Authorizing an Increase in the Principal Amount of Interfund Loans for Tax
Increment Financing District No. 3 -5.
IV. STAFF REPORTS.
None.
V. H.R.A. COMMISSIONER COMMENTS.
None.
VI. INFORMATION AND ANNOUNCEMENTS.
None.
VII. ADJOURNMENT.
Mayor Faust adjourned the meeting at 8:47 p.m.
Respectfully submitted,
Chris Moksnes
Timesaver Off Site Secretarial, Inc.
Motion carried unanimously.
Motion carried unanimously.