Title
Approval of the February 23, 2011 HRA meeting minutes.
Body
Roll Call
Present: Commissioners Bostrom, Carter, Harris, Lantry, Stark, Thune
Absent: Commissioners Helgen
Consent
1. Approval of the February 9, 2011 meeting minutes.
Commissioner Bostrom moved approval.
VOTE: Yeas - 6 Nays - 0
2. Resolution Authorizing First Amendment of the HRA’s Housing Development Revenue Note, Series 2007A (Commerce Apartments Project), Downtown District 17
Commissioner Bostrom moved approval. Approved as set forth in Resolution No. 11-381
VOTE: Yeas - 6 Nays - 0
3. Authorization to Execute License Agreement with Constantino Real Estate LLC for Parking at 1433 University Avenue West, Hamline Midway District 11
Commissioner Bostrom moved approval. Approved as set forth in Resolution No. 11-390
VOTE: Yeas - 6 Nays - 0
Suspension
4. Authorization to Enter Into a Lease with the Saint Paul Federal Credit Union for Temporary Parking as part of the Neighborhood Commercial Parking Program Project in the Block at the Northwest Corner of Snelling and University, Districts 11 & 13.
Commissioner Harris asked what the source of funds was.
Commissioner Stark stated that $250,000 came from a previously approved parking program for Central Corridor. The Board had previously awarded approximately 24 projects along the corridor, utilizing a combination of sources including STAR, CIB and TIF. In this case, the funds for the lease will come from the STAR funds.
Commissioner Harris asked if the administrative STAR dollars intended for PED administrative costs were the same dollars for being use for the temporary lease.
Ms. Bedor stated that PED cannot take administrative costs for overhead. Rather, 20% of the STAR funds can be used for program related activities. The cost of the lease is considered a program related expense.
Commissioner Stark moved approval. Approved as set forth in Resolution No. 11-421
VOTE: Yeas - 6 Nays - 0
ADJOURNMENT
Commissioner Lantry moved adjournment. The HRA meeting was adjourned.