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1 CITY OF ST. ANTHONY <br />HOUSING AND REDEVELOPMENT AUTHORITY MEETING <br />46 September 14, 2004 <br />4 <br />CALL TO ORDER. <br />Chair Pro -tem Thuesen called the meeting to order at 10:16 p.m. <br />9 ROLL CALL. <br />10 Commissioners, present: Chair Pro -tem Thuesen; Commissioners Horst, Stille, and Faust. <br />11 Commissioners absent: None. <br />12 Also present: Executive Director Michael Morrison and City Attorney Jerome <br />13 Gilligan. <br />14 <br />15 <br />16 1. APPROVAL OF SEPTEMBER 14, 2004 H.R.A. AGENDA. <br />17 Motion by Commissioner Faust, seconded by Commissioner Horst, to Approve the H.R.A. <br />18 Agenda of September 14, 2004. <br />19 <br />20 Motion carried unanimously. <br />21 <br />22 H. CONSENT AGENDA. <br />23 A. Approve August 10, 2004, H.R.A. Minutes. <br />0 B. Claims. <br />26 Motion by Commissioner Horst, seconded by Commissioner Stille, to Approve the Consent <br />27 Agenda. <br />28 <br />29 Motion carried unanimously. <br />30 <br />31 III. PUBLIC HEARINGS. <br />32 None. <br />33 <br />34 IV. GENERAL POLICY OF BUSINESS OF THE H.R.A. <br />35 A. Kenzie Terrace Redevelopment, LaNel Financing, Stacie Kvilvang, Elhers and <br />36 Associates, presenting. <br />37 Stacie Kvilvang of Ehlers and Associates reported in lune of 2004 there was a discussion with the <br />38 Board of the Housing and Redevelopment Authority (HRA) regarding the sale of the HRA owned <br />39 land located along Kenzie Terrace. She noted the City had entered into a Purchase Agreement with <br />40 LaNel Financial who intended to construct 38 senior apartment units and incorporate the site into their <br />41 existing Autumn Woods apartment community. She indicated they proposed to purchase the <br />42 property for $285,000 ($7,500/unit) and were going to begin construction in 2003, however, due to <br />43 market conditions (high vacancy rates at Autumn Woods and in the Metropolitan Area in general), <br />44 the City did not close on the property and construction was not commenced. <br />• Ms. Kvilvang stated at a June meeting, the HRA provided Staff direction to sell the land to LaNel on <br />46 either a Contract for Deed or outright so the land could become taxable again, and requested that if <br />47 this could not happen prior to July 1, 2004 (date of property conversion from tax exempt to <br />