May 6, 2008
A regular meeting of the Hopkins Housing and Redevelopment Authority was held May 6, 2008, at Hopkins City Hall. Present were Chairman Eugene Maxwell, Commissioners Rick Brausen, Kristi Halverson, Bruce Rowan and Cheryl Youakim. Also present were Executive Director Rick Getschow, Assistant Executive Director Kersten Elverum and City Attorney Jerry Steiner.
- Call To Order
The meeting was called to order at 7:15 pm.
- Open Agenda/Public Comments
- Consent Agenda
- Approve minutes of the April 1, 2008, regular meeting
- Approve disbursements through April 30, 2008
Commissioner Rowan moved, Commissioner Halverson seconded, to approve the consent agenda. The motion was approved unanimously.
- New Business
- ITEM 2008-06 Termination of purchase agreement—Hopkins Park Plaza and authorization of purchase offers on 525 Mainstreet and Hopkins Park Plaza
Ms. Elverum provided an overview of this item. She stated that in November 2006 the Hopkins HRA entered into a purchase agreement for the Hopkins Park Plaza and that the terms were based on a condominium project proposed by GPS Development.
Ms. Elverum recommended that the purchase agreement be terminated and offers be made to the Park Plaza of $5.5 million and to 525 Mainstreet for $484,000—110 percent of the appraised value.
Jerry Steiner suggested the motion be revised to reflect the HRA’s inability to terminate the agreement. Mr. Steiner recommended that the HRA communicate that the HRA would not be performing under the agreement.
Commissioner Youakim moved, Commissioner Brausen seconded, not to proceed with the purchase agreement according to the terms of the agreement between the Hopkins HRA and Hopkins Park Plaza, LLC. The motion was approved unanimously.
Commissioner Brausen moved, Commissioner Halverson seconded, to authorize offers of $484,000 to purchase 525 Mainstreet and $5.5 million to purchase the Hopkins Park Plaza. The motion was approved unanimously.
Commissioner Brausen moved, Commissioner Youakim seconded, to adjourn the meeting. The motion was approved unanimously. The meeting adjourned at 7:26 p.m.