02-05-1985 Special
CITY OF RICHFIELD
SPECIAL MEETING
CITY COUNCIL/HOUSING & REDEVELOPMENT AUTHORITY
FEBRUARY 5, 1985
MEMBERS PRESENT: Council Members Howard Bence; Mike Sandahl; Don
Priebe; and, Ivan Ludeman
HRA Commissioners Joan Helmberger; Vern Luettinger;
Ivan Ludeman; and, Chairman Tom Harms
MEMBERS ABSENT: Mayor John Hamilton
Commissioner Don Hassenstab
STAFF PRESENT: City Manager John Cartwright; Administrative Services
Director Steve Devich; Community Development Director
Dennis Kraft; Housing & Redevelopment Director Bruce
Palmborg; and, City Attorney John Dean
ALSO PRESENT: Richard Krier
Chairman Harms called the meeting to order at 5:23 P.M.
City Attorney John Dean reviewed the Second Amendment to the Developer's
Agreement between the Housing and Redevelopment Authority of the City of
Richfield, Market Plaza Corp., the Developer, and The Arkell Development Corp.,
Housing Component, A Co-developer. He stated that modifications to the
original agreement are being sought by the lender (Twin City Federal) for the
condominium portion of the project and are related to procedures to be under-
taken during any potential foreclosure actions.
M/Ludeman, S/Helmberger that the HR.A approve the pro osed amendments to the
Developer's Agreement in substantially the form contained in the draft document
entitled "Second Amendment to~Develo er's A. eement" and to authorize
execu ion o the second amendment an the attached subordination agreement.
Motion carried 4-O.
M/Ludeman, S/Priebe that the City Council approve the proposed amendments t
to the Develo er's A eement in substantiall the form contained in the draft
ocumen entitled " econd Amendment to Develo er's A eement" and to authorize
execu ion o t e second amendment and the a c e subordination agreement.
Motion carried 4-O.
The meeting adjourned at 5:47 p•m.
Date Approved: February 25, 1985