Title
Approving the July 27, 2016 HRA Board Meeting Minutes
Body
The HRA recessed and will reconvene on Wednesday, August 3 at 3:30 pm preceding the City Council meeting.
Commissioner Voting
The reader calls the names of all Commissioners. A vote in favor is cast by remaining silent, and a vote against is cast by saying no or nay. When the voting is complete, the reader will state whether the motion passed or failed.
ROLL CALL
Present 6 - Commissioners Noecker, Prince, Stark, Thao, Tolbert and Chair Brendmoen
Excused 1 - Commissioner Bostrom
CONSENT AGENDA
Note: Items listed under the Consent Agenda will be enacted by one motion with no separate discussion. If discussion on an item is desired, the item will be removed from the Consent Agenda for separate consideration.
Approval of the Consent Agenda
1. Approval of the July 13, 2016 HRA Board Meeting Minutes
Adopted as set forth in Min 16-31
2. Resolution Authorizing Acceptance of a Grant from the U. S. Department of Housing and Urban Development (HUD) as a Sub Grantee of the Minnesota Home Ownership Center (MNHOC) for funding for administrative costs for counselors for the Mortgage Foreclosure Prevention Program. (Citywide)
Adopted as set forth in RES 16-1277
Moved by Commissioner Tolbert, Consent Agenda is adopted.
VOTE: Yeas - 6 Nays - 0
FOR DISCUSSION
3. Resolution Approving and Authorizing $200,000.00 in ISP Commercial Funds to Yamthongkam Properties, LLC for the Construction of 1141 Rice Street, District 6, Ward 5.
Kristin Guild, Acting HRA Executive Director, stated this request is for $200,000 of ISP commercial funds to the construction of a commercial building by Yamthongkam Properties, LLC to house a destination restaurant at 1141 Rice Street. The loan will be amortized over 20 years at 1% interest. The source, ISP, is the last remaining uncommitted funds for commercial development through the Invest St. Paul Program established in 2007. The City Council authorized $300,000 in STAR funds f...
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