1987 03 19HOUSING AND REDEVELOPMENT AUTHORITY
MARCH 19, 1987
CALL TO ORDER: Vice-Chairman Horn called the meeting to order at
7:42 p.m. Members present: Horn, Robbins and Bohn. Chairman
Whitehill and Commissioner Swenson were absent. Also present
were Don Ashworth, City Manager and Todd Gerhardt, Administrative
Assistant.
APPROVAL OF MINUTES: Motion by Robbins, seconded by Bohn to
approve the February 19, 1987, minutes as written. All voted in
favor and the motion carried.
AGENDA AMENDMENT: Vice-Chairman Horn made the motion to amend
the agenda to discuss 7a after the approval of the minutes.
Seconded by Robbins, all voted in favor and the motion carried.
REVIEW CHADDA PROPOSED FINANCING FOR THE RETTLER PROPERTY:
Ashworth introduced Brad Johnson from CHADDA to discuss their
proposed financing plan for the Rettler property. Mr. Johnson
explained the background on the Rettler property, stating that
the property is located in the area where they have planned to
build an apartment complex. Due to the location of the house
in a commercial area, the bank will not finance the acquisition
of the property without a takeout. CHADDA is requesting that
the City act as the takeout for the acquisition of the property.
In the event CBADDA does not develop the site within 3 to 5
years, the city would then receive full ownership of the property.
Mr. Johnson further explained that the city would also be respon-
sible for all carrying changes created by acquiring the property.
Motion by Bohn, seconded by Robbins, to approve the purchase price
of the Rettler property for $60,000 and that the City takeout for
CHADDA to obtain financing for the property. All voted in favor
and the motion carried.
DOWNTOWN REDEVELOPMENT PROJECT - REVIEW PLAN MODIFICATION:
Ashworth introduced Fred Hoisington and asked him to explain the
changed made in the Redevelopment and Tax Increment Financing
Plan Modification No. 7. Mr. Hoisington explained that due to
the changes made in the Redevelopment contract with CHADDA, those
changes also needed to be incorporated into the Tax Increment
Plan. Mr. Hoisington further explained that even though they
were minor changes they should still be presented to the HRA for
review. Mr. Hoisington noted the changes that occurred in the
document.
Vice-Chairman Horn moved, seconded by Robbins to approve the
changes made in the plan modification as presented. All voted in
favor and the motion carried.
ESTABLISH PUBLIC HEARING DATE FOR RETAIL WEST AND HOUSING LAND
SALE: Ashworth stated that staff has selected April 16, 1987, as
the earliest possible date for publication. Bohn moved, seconded
by Robbins, to accept the date of April 16, 1987, for the public
Housing and Redevelopment Authority
March 19, 1987
Page 2
hearing for the land sale of Retail West and Housing. Ail voted
in favor and the motion carried.
OLD BUSINESS: John Dean from the LeFevre firm discussed the
changes in the option agreement. Mr. Dean outlined the boun-
daries of the land swap between the HRA and Bloomberg Companies
and the description of the cantilever on the existing HRA
building. Mr. Dean also requested the HRA grant an easement to
CHADDA so they may have access through the HRA property.
Bohn moved, seconded by Robbins, to grant an easement to CHADDA
and also approve the changes in the option agreement. All voted
in favor and the motion carried.
APPROVAL OF BILLS
Bohn moved, seconded by Robbins to approve the bills dated March
16, 1987. All voted in favor and the motion carried.
Bohn moved, seconded by Robbins, to adjourn the meeting at 9:15
p.m. All voted in favor and the motion carried.
Prepared by:
Todd Gerhardt
Administrative Assistant