HomeMy WebLinkAboutCity Council - 12/15/1992 - HRA APPROVED Af[NUTES
HOUSING & REDEVELOPMENT AUTHORITY MEETING
TUESDAY, DECEMBER 15, 1992 7:30 PM, CITY HALL COUNCIL CHAMBER
7600 Executive Drive
HOUSING & REDEVELOPMENT
AUTHORITY MEMBERS: Chair Douglas Tenpas, Richard Anderson, Jean Harris, H. Martin
Jessen, and Patricia Pidcock
HOUSING & REDEVELOPMENT
AUTHORITY STAFF: Executive Director of the Housing & Redevelopment Authority
Chris Enger, City Manager Carl J. Jullie, Assistant to the City
Manager Craig W. Dawson, Finance Director John D. Frane, and
City Attorney Roger Pauly
I. CALL MEETING TO ORDER AND ROLL CALL
Vice Chair Anderson called the meeting to order at 7:30 p.m. Tenpas was absent.
II. APPROVAL OF HOUSING&REDEVELOPMENT AUTHORITY MINUTES FROM MEETING
• HELD TUESDAY, NOVEMBER 17, 1992
MOTION: Pidcock moved, seconded by Harris, to approve the minutes of the November 17, 1992,
meeting as submitted. Motion carried unanimously.
III. BRA RESOLUTION NO.92-07 AMENDING CITY DEVELOPMENT AGREEMENT FOR ELIM
SHORES
The developer of Elim Shores proposed an amendment to the developer's agreement requiring HRA
approval prior to Council action on the amendment.
MOTION: Harris moved, seconded by Pidcock, to adopt HRA Resolution No. 92-07, amending the
City developer's agreement for Elim Shores. Motion carried unanimously.
Commissioners expressed concern that the income levels defined as "low" were actually "high" by some
standards. Enger said this was discussed during the original project review, noting that the amendment
to the agreement would grant the City greater assurance that thirteen units would be set aside for
qualified "low income" residents.
Commissioners also expressed concern that there were non-sectarian residency requirements for the
facility and directed staff to follow up to determine compliance with this requirement.
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Housing and Redevelopment Authority 2 December 15, 1992
*IV. HRA RESOLUTION NO. 92-08 AWARDING SALE OF$9,760,000 LEASE REVENUE BONDS,
SERIES 1992B HRA RESOLUTION NO. 92-09 AWARDING SALE OF $2,355,000 TAXABLE
LEASE REVENUE BONDS, SERIFS 1992C
Dave McGillivray, Springsted, Inc., presented the details of the proposed sale of $9,760,000 of tax
exempt lease-revenue bonds and for private placement of$2,355,000 of taxable lease-revenue bonds for
the property at 8100 Mitchell Road and recommended award for sale of the bonds.
MOTION: Jessen moved, seconded by Pidcock, to adopt HRA Resolution No. 92-08 to award the sale
of$9,760,000 Lease-Revenue Bonds, Series 1992B and sale of$2,355,000 for Taxable Lease-Revenue
Bonds, Series 1992C. Motion carried unanimously.
VI. OTHER BUSINESS
VII. ADJOURNMENT
MOTION TO ADJOURN: Pidcock moved, seconded by Jessen, to adjourn the meeting. Vice
Chairman Anderson adjourned the meeting at 7:45 p.m.