March 20, 2007
A special meeting of the Hopkins Housing and Redevelopment Authority was held March 20, 2007, at Hopkins City Hall. Present were Chairman Eugene Maxwell, Commissioners Kristi Halverson, Bruce Rowan, Jay Thompson and Cheryl Youakim. Also present were Executive Director Rick Getschow, Housing and Development Coordinator Kersten Elverum, City Attorney Jerry Steiner, Bond Counsel Steve Bubul, and Rebecca Kurtz, Ehlers & Associates.
- Call To Order
Chairman Maxwell called the meeting to order at 7:20 p.m.
- Open Agenda/Public Comments
- Consent Agenda
- ITEM 2007-08 Public Housing annual operating budget, HRA Resolution 446
- ITEM 2007-09 Public Housing year-end write-offs, HRA Resolution 447
Commissioner Halverson moved, Commissioner Rowan seconded, to approve the consent agenda. The motion was approved unanimously.
- New Business
- ITEM 2007-10 Amendment No. 2, Redevelopment Agreement with Opus, L.L.C., Excelsior Crossings Project
Ms. Elverum provided an overview of this item. The proposed amendment addresses two issues, the allocation of eligible public redevelopment costs and the authorization of the issuance of bonds for Phase I that exceed the amount allowed under the current agreement.
Commissioner Thompson moved, Commissioner Halverson seconded, to authorize execution of Amendment No. 2 of the redevelopment agreement with Opus Northwest, L.L.C., re: Excelsior Crossings Project. The motion was approved unanimously.
- ITEM 2007-07 Tax Exempt Revenue Bond, Phase I, Excelsior Crossings Project
Ms. Elverum provided an overview of this item, which authorizes the sale of tax increment revenue bonds for Phase I of Excelsior Crossings. She explained that the amount of the bond sale is $9,005,000, which will be used to pay the public redevelopment costs of Phase I and a portion of costs related to Phase II.
Commissioner Youakim moved, Commissioner Halverson seconded, to adopt Resolution 445, authorizing the sale of tax increment revenue bonds (Excelsior Crossings Project), Series 2007. The motion was approved unanimously.
Commissioner Halverson moved, Commissioner Thompson seconded, to adjourn the meeting. The motion was approved unanimously. The meeting adjourned at 7:30 p.m.