10-28-1996 Special
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HOUSING AND REDEVELOPMENT
• ~ AUTHORITY MEETING MINUTES
Richfield, Minnesota
_ Special Meeting
LL ~..
October 28, 1996
The meeting was called to order by Chair Harms at 6:30 p.m.
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HRA Members
Present: Thomas Harms; Joan Helmberger; Vem Luettinger; Michael Sandahl
and Russ Susag.
Staff Present : James D. Prosser, Executive Director; Steven Devich, Acting City
Clerk; Bruce Palmborg, Community Development Director; and John B.
Dean, City Attorney.
®thers Present: Mark Damante, The Limited, Inc., and Sid Inman, Ehlers and
Associates.
Executive Director Prosser reviewed HRA Letter No. 72 regarding consideration of
_ resolution approving Contract for Private Redevelopment between HRA and The Limited,
Inc., Interchange TIF District.
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Mark Damante, The Limited, Inc., responded that the developer was agreeable to
reducing the term from 25 years to a 20-year term.
Commissioner Luettinger asked about the "but for" analysis pertormed by Ehlers and
Associates.
Special HRA Meeting Minutes
-2-
October 28, 1996
Sid Inman, Ehlers and Associates, responded to Commissioner Luettinger's question.
Chair Harms stated that he was satisfied that the hotel issue was adequately
addressed by staff and that a 20-year term for the TIF would be a good compromise position
for both the developer and the HRA.
Chair Harms asked about the City's current position of the billboards at the Naegele
site.
Mr. Prosser responded that the issue was still under consideration.
Chair Harms asked what considerations were used to include a perpetual lease in the
agreement.
Mr. Dean responded to the HRA's rationale for a perpetual lease.
M/Susag, S/Helmberger that the followj,Q,a HRA resolution be adopted. that it be
plead in the HRA resolution book and that it be made Dart of these minutes:
RESOLUTION N0.608
RESOLUTION APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT
WITH THE LIMITED, INC.
Motion carried 5-0. This resolution appears as HRA Resolution No. 608 in HRA
Resolution Book No. 5.
Executive Director Prosser stated that staff had received a number of initial proposals
for a co-developer for the Richfield Lake area.
Mr. Prosser also presented an update on the traffic issues at the general area of the
Galyan's proposal.
The HRA meeting was adjourned by unanimous~t;~'ent at 6:43 p.m.
Date Approved: 11/18/96
re~
even L. Devich
Acting City Clerk
Thomas E. Harms
Chair
ames D. Prosser
xe~{Itive Director
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