Title
Approval of the May 8, 2013 HRA meeting minutes.
Body
ROLL CALL
Present: Commissioners Bostrom, Brendmoen, Carter, Lantry, Stark, Thune, Tolbert
CONSENT
1. Approval of the April 24, 2013 HRA meeting minutes.
Commissioner Lantry moved approval.
VOTE: Yeas - 7 Nays - 0
2. Resolution Approving and Authorizing Subordination of Three HRA Loans for Refinancing of the Sibley Park Apartment Project, Amendment of $750,000 HOME Loan Note, and Sale of $750,000 HOME Loan Note and of $250,000 HRA Loan Note to Sherman Associates LLC
Chair Thune pulled this item from the consent agenda.
Mr. Al Carlson, Acting Executive Director for the HRA, stated that new developments have occurred that could affect this action. Staff is asking for a one week layover in order to address the new information, and make adjustment to the proposed resolution if needed.
Commissioner Bostrom made the motion to lay this item over to May 15, 2013 at 3:30 p.m.
VOTE: Yeas - 7 Nays - 0
PUBLIC HEARING
3. Resolution Approving the Sale of Land and Converance of Parcel 629 Sherburne Avenue under the ISP/NSP Program, Thomas-Dale, District 7
Ms. Sarah Zorn from PED stated that this property was purchased in July 2009 under the Neighborhood Stabilization Program (NSP) and Rebuilding Plan 2009-2013. This is a two-story, three-bedroom, two-bathroom home built in 1884. The purchase price was $29,750 representing a discount of 29%. The sale price is $132,900 with a total development gap of $138,000.
Chair Thune announced the public hearing. There being no testimony, Commissioner Carter moved to close the public hearing and approve the resolution. Approved as set forth in resolution RES PH 13-97
VOTE: Yeas - 7 Nays - 0
4. Resolution Approving the Sale of Land and Conveyance of Parcel 719 Fuller Avenue under the ISP/NSP Program, Summit-University, District 8
Ms. Zorn stated that this property was purchased with NSP funds in July 2010 for $89,630. This is a 1,320 square fo...
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