HomeMy WebLinkAboutCity Council - 06/05/2012 - HRA APPROVED MINUTES
HOUSING AND REDEVELOPMENT AUTHORITY
TUESDAY,JUNE 5, 2012 7:00 PM, CITY CENTER
Council Chamber
8080 Mitchell Road
HOUSING AND REDEVELOPMENT AUTHORITY MEMBERS: Chair Nancy Tyra-
Lukens, Council Members Brad Aho, Sherry Butcher Wickstrom, Ron Case, and Kathy Nelson
CITY STAFF: City Manager Rick Getschow, Public Works Director Robert Ellis, Community
Development Director Janet Jeremiah, Parks and Recreation Director Jay Lotthammer, City
Attorney Rick Rosow and Council Recorder Jan Curielli
I. ROLL CALL/CALL THE MEETING TO ORDER
Chair Tyra-Lukens called the meeting to order at 7:02 PM in shared session with the City
Council. All members were present.
II. APPROVE MINUTES OF HRA MEETING HELD ON APRIL 17, 2012
MOTION: Nelson moved, seconded by Aho, to approve the minutes of the HRA
meeting held on April 17, 2012, as published. Motion carried 4-0, with Butcher
Wickstrom abstaining.
III. ADOPT RESOLUTION HRA 2012-02 APPROVING AMENDMENT NO. 3 TO FIRST
AMENDED AND RESTATED PROJECT MANAGEMENT AGREEMENT FOR
STERLING PONDS/PRAIRIE VILLAGE PROJECT AND AUTHORIZING
EXECUTION OF AMENDMENT NO. 3,A SUBORDINATION AGREEMENT AND A
RELEASE OF MORTGAGE
Getschow said the final tax increment payment to the developer of the Sterling
Ponds/Prairie Village project was made in 2011. The HRA has a continued equity interest in
the project. The HRA desires to relinquish its equity interest in the project in exchange for
developer's commitment to continue to be bound, for an additional five years,by some of its
obligations set forth in the agreement. This includes extending the affordable housing
requirement for the project for five more years. The Council is being asked to adopt a
similar resolution consenting to the transaction.
Tyra-Lukens asked if the number of affordable units would be changed. Getschow said the
number would not change.
MOTION: Case moved, seconded by Aho, to adopt Resolution HRA 2012-02 approving
Amendment No. 3 to First Amended and Restated Project Management Agreement for the
Sterling Ponds/Prairie Village Project and authorizing execution of Amendment No. 3, a
subordination agreement and a release of mortgage. Motion carried 5-0.
HRA MINUTES
April 17, 2012
Page 2
IV. ADJOURNMENT
MOTION: Case moved, seconded by Butcher Wickstrom, to adjourn the HRA. Motion
carried 5-0. Chair Tyra-Lukens adjourned the HRA meeting at 7:04 PM.