HomeMy WebLinkAboutCity Council - 11/17/2009 - HRA APPROVED MINUTES
HOUSING AND REDEVELOPMENT AUTHORITY
TUESDAY, NOVEMBER 17, 2009 7:00 PM, CITY CENTER
Council Chamber
8080 Mitchell Road
HOUSING AND REDEVELOPMENT AUTHORITY MEMBERS: Chair Phil Young,
Council Members Brad Aho, Ron Case, Jon Duckstad and Kathy Nelson
CITY STAFF: City Manager Scott Neal, Public Works Director Eugene Dietz, Community
Development Director Janet Jeremiah, City Attorney Ric Rosow, Finance Director Sale Kotchevar
and Recorder Jan Curielli
I. ROLL CALL/CALL THE MEETING TO ORDER
Chair Young called the meeting to order at 7:03 PM in shared session with the Council
meeting. All members were present.
II. APPROVE MINUTES OF HRA MEETING HELD ON OCTOBER 20, 2009
MOTION: Duckstad moved, seconded by Case, to approve the minutes of the
H RA meeti ng held on October 20, 2009 as pubs i shed. M oti on carried 5-0.
III. APPROVE AMENDED AND RESTATED MASTER SUBORDINATION
AGREEMENTAND ESTOPPEL CERTIFICATE FOR PURGATORY CREEK
TOWNHOMES (A/K/A EDENVALE TOWNHOMES)
Neal said this item is essentially a refinancing of the project. We have a loan in place in this
project and HRA approval of a Master Subordination Agreement and Estoppel Certificate is
required for the refinancing. Jeremiah noted it is a straight forward request based on the
refinancing.
MOTION: Duckstad moved, seconded by Aho, to approve and authorize execution of
that certain Master Subordination Agreement and Estoppel Certificate for the Purgatory
Creek Townhomes located in Eden Prairie, Minnesota ("Project") and such other
documents as are necessary in connection therewith to evidence the City's approval.
Motion carried 5-0.
IV. ADJOURNMENT
MOTION: Nelson moved, seconded by Case, to adjourn the HRA. Motion carried 5-0.
Chair Young adjourned the HRA meeting at 7:05 PM.