HomeMy WebLinkAboutCity Council - 10/26/2021 - HRA
APPROVED MINUTES
HOUSING AND REDEVELOPMENT AUTHORITY
TUESDAY, OCTOBER 26, 2021 7:00 PM, CITY CENTER
Council Chamber
8080 Mitchell Road
HOUSING AND REDEVELOPMENT AUTHORITY MEMBERS: Chair Ron Case, Council
Members Mark Freiberg, PG Narayanan, Kathy Nelson, and Lisa Toomey
CITY STAFF: City Manager Rick Getschow, Public Works Director Robert Ellis, Parks and
Recreation Director Jay Lotthammer, Community Development Director Julie Klima, City
Attorney Maggie Neuville
I. ROLL CALL / CALL THE HRA MEETING TO ORDER
Chair Case called the meeting to order at 7 p.m. All Housing and Redevelopment
Authority (HRA) members were present.
II. APPROVE MINUTES OF HRA MEETING HELD ON SEPTEMBER 7, 2021
MOTION: Toomey moved, seconded by Freiberg, to approve the HRA minutes from
September 7, 2021. Motion carried 5-0.
III. APPROVE EXECUTION OF ESTOPPEL CERTIFICATE CONSENTING TO
COLLATERAL ASSIGNMENT OF PARAVEL TIF AGREEMENT AND TIF
NOTE TO PACIFIC LIFE INSURANCE COMPANY
Getschow explained the Council approved a Tax Increment Financing (TIF) with Paravel
Property LLC for the Paravel apartment project, and this item was to consent to assign the
TIF agreement and TIF note to an insurance company, which is part of the financing for
the improvement.
MOTION: Narayanan moved, seconded by Nelson, to approve the execution of Estoppel
Certificate consenting to collateral assignment of Paravel TIF agreement and TIF note to
Pacific Life Insurance Company. Motion carried 5-0.
IV. ADJOURNMENT
MOTION: Nelson moved, seconded by Freiberg, to adjourn the HRA meeting. Motion
carried 5-0. Chair Case adjourned the meeting at 7:04 p.m.
Respectfully submitted,
___________________________
Nicole Tingley, City Clerk