Title
Approval of the March 27, 2013 HRA meeting minutes.
Body
ROLL CALL
Present: Commissioners Bostrom, Brendmoen, Carter, Lantry, Thune, Tolbert
Excused: Commissioner Stark
CONSENT
1. Approval of the March 13, 2013 HRA meeting minutes.
Commissioner Lantry moved approval.
VOTE: Yeas - 6 Nays - 0
2. Resolution Authorizing Designation of a Tentative Developer Status for Stutzman Group of Dayton's Bluff, LLC for the Property at 683 North Street Project, District 4, Ward 7
Commissioner Lantry moved approval. Approved as set forth in resolution RES 13-480
VOTE: Yeas - 6 Nays - 0
PUBLIC HEARING
3. Resolution giving Preliminary Approval to the Proposed Issuance of Revenue Bonds for the Twin Cities German Immersion School Project under Minnesota Statutes, Sections 469.152 through 469.1651, District 6, Ward 5
Ms. Cecile Bedor, Executive Director for the HRA stated that the Twin Cities German Immersion Charter School was founded in 2005. The current enrollment is 322 students; they anticipate 366 students in the fall of 2013, growing to over 500 by the 2017-2018 school year.
The School's current lease will expire on June 30, 2013, and they plan to move to a new location and expand. They are purchasing a three-story existing building located at 1028-1030 Van Slyke Avenue. Also a two-story rectory will be demolished for parking, and the church sanctuary will be redeveloped as a cafeteria, gym, auditorium, and ancillary classroom space. The new addition will connect the two existing buildings, and house additional classrooms and administrative space.
Ms. Bedor explained that this a conduit bond issue. There is no risk on the part of the City of Saint Paul or the HRA, moral or otherwise, for the repayment of these bonds.
Chair Thune announced the public hearing. There being no testimony Commissioner Brendmoen moved to close the public hearing and adopt the resolution. Approved as set forth in resolution RES PH 13-71
VOTE: Yeas - 6 Nays - 0
DISCUSSION
4. Resolution Authorizing a HOME Loan and the Issuance and Sale of Senior Housing and Health Care Revenue Bonds (Episcopal Homes Project) District 13, Ward 4
Ms. Bedor stated that Episcopal Homes has been operating a senior housing campus located at the corner of University and Fairview Avenues, and has purchased the Porky's site to the west. This action is to approve new construction which consists of one seven-story building with three separate types of senior housing. These include: a 50-unit HUD 202 residence offering subsidized independent living for seniors 62 and older called "Midway Pointe", 64-units of assisted living providing various levels of services called "The Terrace at Iris Park"; and 60-units of long term care and memory care units called "Episcopal Homes on University Avenue (EHUA)" for a total of 174 new senior housing units.
The project will also include a new shared community space, including a therapy pool and fitness center, a café and market, and a hair salon. This project will include improvements to Iris Park, as well as a small commercial space for a privately run neighborhood coffee shop.
Ms. Bedor explained that in May 2011, the HRA Board approved $500,000 in CDBG funds to help acquire the site. As the project developed, PED staff determined that CDBG funds are not eligible for this project. Thus a HOME fund loan is now proposed.
Ms. Bedor stated that this is a conduit bond and shall not constitute any general or moral obligation on the HRA or the City of Saint Paul.
Commissioner Lantry moved approval. Approved as set forth in resolution RES 13-481
ADJOURNMENT
Commissioner Lantry moved adjournment. The HRA meeting was adjourned.