02-05-1985 Special• CITY OF RICHFIELD
SPECIAL MEETING
CITY COUNCIL/HOUSING & RIDEVELOPMENT AUTHORITY
FEBRUARY 5, 1985
MEMBERS PRESENT: Council Members Howard Bruce; 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 thatthe HRA approve the proposed amendments to the
D_eveloper's Agreerc~nt in substantially the form contained in the draft document
entitled "'econd Amen nt to Develo Br's A Bement" and o authorize
execu Sono the second amendment and the attache subor nation agreement.
Motion carried 4-O.
M/Ludeman, S/Priebe that the City Council a rove the~roposed amendments to
to the Develo Br's A eemen in substantial t e f` nt~ined~the drams
ocument en a econ n nt eve o Br's eemen 'rank "to aut~iorize
execution o the_secon amen nt an the attached subor 'nation aarreemPnt_
Motion carried 4-O.
The meeting adjourned at 5:47 p.m.
Date Approved:
Thomas E. Harms Chairman
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J elmberger cretary