HRA Minutes

October 6, 2009

A regular meeting of the Hopkins Housing and Redevelopment Authority was held October 6, 2009, at Hopkins City Hall.  Present were Chairman Eugene Maxwell and Commissioners Rick Brausen, Kristi Halverson, Bruce Rowan, and Cheryl Youakim.  Also present were Executive Director Rick Getschow, Assistant Executive Director Kersten Elverum, Public Housing Manager Stacy Unowsky and City Attorney Jerry Steiner.

  1. Call to Order
    The meeting was called to order at 7 pm.
  2. Open Agenda - Public Comments
    No one from the public came forward to speak.
  3. Consent Agenda
    1. Approve minutes of the September 1, 2009, regular meeting
    2. Approve disbursements through September 30, 2009
    3. ITEM 2009-11 Renew general liability and property insurance and authorize not waiving statutory tort liability on the League of Minnesota Cities Insurance Trust policy

      Commissioner Brausen moved, Commissioner Youakim seconded, to approve the consent agenda. The motion was approved unanimously.

  4. New Business

    1. ITEM 2009-13   Tax Exempt Revenue Bonds, Phase III – Excelsior Crossings
      Ms. Elverum explained that the sale of TIF Revenue Bonds for Phase III of Excelsior Crossings had been previously approved but the issuance was not pursued due to market conditions. The bond markets have now stabilized, and staff is recommending that the HRA authorize the sale of up to $5.5 million in tax exempt revenue bonds for the project.

      Commissioner Youakim moved, Commissioner Halverson seconded, to approve HRA Resolution 466 authorizing the issuance of tax increment revenue bonds (Excelsior Crossings-Phase III) series 2009.  The motion was approved unanimously.

    2. ITEM - Special HRA Meeting
      Commissioner Youakim moved, Commissioner Brausen seconded, to schedule a special HRA meeting for October 20, 2009, at 7:15 p.m. to discuss extension of agreements for Marketplace & Main. The motion was approved unanimously.

    3. ITEM 2009-14     Assignment and assumption agreement – Marketplace & Main
      Ms. Elverum explained the financing requirement that the ownership of the property for Phase I of the Marketplace & Main development must be held by a single-purpose entity. Because the land for Phase II is currently under the same ownership, that land must be assigned to a new entity and the HRA must approve that transaction.  Ron Mehl and Bill Beard appeared before the HRA to provide an update on the project. It was concluded that a 60-day extension of the project agreements would be necessary. 

      Commissioner Rowan moved, Commissioner Halverson seconded, to approve the assignment and assumption agreement among the Hopkins Housing & Redevelopment Authority, Marketplace Holdings, Inc., and Marketplace Townhomes Holdings, Inc.  The motion was approved unanimously.

    4. ITEM 2009-12     Award contract for the HRA window project
      The architect for the project, Dan Dege, gave an overview of the window selection process and supported the staff recommendation of the H-Window.

      Commissioner Halverson moved, Commissioner Rowan seconded, to authorize execution of HRA Resolution 465 and award the contract to Crossroads Construction, Inc., for the window replacement project at Dow Towers.  The motion was approved unanimously.
  5. Adjournment
    Commissioner Halverson moved, Commissioner Youakim seconded, to adjourn the meeting.  The motion was approved unanimously. The meeting adjourned at 7:30 p.m.