Title
Approval of the March 28, 2012 HRA meeting minutes.
Body
ROLL CALL
Present: Commissioners Bostrom, Brendmoen, Carter, Lantry, Stark, Thune, Tolbert
CONSENT
1. Approval of the March 14, 2012 HRA meeting minutes.
Commissioner Lantry moved approval.
VOTE: Yeas - 7 Nays - 0
2. Resolution Authorizing Grant of Easement to District Cooling St. Paul Inc. across the Robert Street Parking Ramp, 95 East 7th Street, Downtown, District 17.
Commissioner Lantry moved approval. Approved as set forth in resolution RES 12-586
VOTE: Yeas - 7 Nays - 0
PUBLIC HEARING
3. Resolution Approving the Sale of Land and Conveyance of Parcel 1776 Maryland Avenue East, Unit 307, Hazel Park Heights Condominium Project, Greater East Side, District 2
Ms. Cecile Bedor, Executive Director for the HRA stated that staff has executed a purchase agreement for the property located at 1776 Maryland, in the amount of $94,000, to Mr. Ronald Snaza.
Chair Thune announced the public hearing. There being no testimony Commissioner Bostrom moved to close the public hearing and approve the resolution. Approved as set for the in resolution RES PH 12-95.
VOTE: Yeas - 7 Nays - 0
DISCUSSION
4. Resolution Approving Issuance of Satisfaction of Mortgage on Forgivable Loan with Hazel Park Heights, LLC, Greater East Side, District 2
Ms. Bedor stated that on September 28, 2005, the HRA Board approved a $1,190,000 forgivable loan, and a HRA guaranty of $600,000 towards the presale requirements for the 27 unit, Hazel Park Heights, Condominium project. Ms. Bedor stated that the members of Hazel Park Heights, LLC are the North East Neighborhoods Development Corporation (NENDC), and Hazel Park Investor, LLC which is owned by Zeman Construction Company and Dennis Guptil, who brought the construction financing to the project. Ms. Bedor explained that approximately $44,000 of the forgivable loan was to be forgiven as each unit was sold. As a result of sales to date, the loan balance has been re...
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