02-11-1980HOUSING AND REDEVELOPMENT AUTHORITY '
OF RICHFIELD, MINNESOTA.
" Regular Meeting of February T1, 1980
The Housing and Redevelopment Authority of the City of Richfield met in
regular session in the council chambers of the city hall on February 12, 1980
at 12:21 a.m.
The meeting was called to order by Chairman Donald J. Priebe.
Present: Collins, Luet~tinger, Bunce, Ludeman, Priebe
1. Minutes
Motion by Ludeman, seconded by Luettinger that the minutes of the Jan-
uary 14, 1980 HRA meeting be approved with the following revision added to
Page 2:
"4. The developer agrees to pay for any shortfall on an annual
basis if the proposed project does not have a sufficient tax in-
crement cash flow to pay the HRA's costs."
A11 ayes - Carried.
2. Housing Report
Motion by Ludeman, seconded by Collins to defer consideration of this item
to the February 25, 1980 HRA meeting.
All ayes - Carried.
3. Official Depository
Karl Nollenberger, Executive Director, presented a resolution nauing the
Summit State Bank of Richfield as the official depository for the HRA for the
year 1980 and recommended the HRAls adoption.
Motion by Ludeman, seconded by Collins that the following resolution be
adopted; that it be spread in the resolution book and that it be made a part of
these minutes:
HRA Meeting Minutes -2- February 11, 1980
HRA RESOLUTION N0. 135
RESOLUTION DESIGNATING THE. SUMMIT STATE. BANK A DEPOSITORY OF
FUNDS OF THE HOUSING AND REDEVELOPMENT AUTHORITY OF RICHFIELD
FOR THE YEAR 1980 AND APPROVING COLLATERAL
Po11 of votes: Ayes - Collins, Luettinger, Bunce, Ludeman, Priebe. Nays - None.
Carried. This resolution appears as Resolution No. 135 in Resolution Book No. 2.
4. Claims and Payrolls
Motion by Ludeman, seconded by Bunce-that the following claims and payrolls
be approved:
SUMMIT STATE BANK
January 28, 1980 Checks 3009/3122 $ 25,673.47
February 11, 1980 Checks 3011/3140 $694,575.30
A11 ayes - Carried.
5. Adjournment
Motion by Luettinger, seconded by Collins that the meeting adjourn.
A11 ayes - Carried. Time: 12:25 a.m., February 12, 1980.
Date Approv February 25, 1980
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~p
Vern Luettinger Secretary