A regular meeting of the Hopkins Housing and Redevelopment Authority was held September 7, 2010, 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 and City Attorney Jerry Steiner.
Commissioner Brausen moved, Commissioner Rowan seconded, to approve the consent agenda. The motion was approved unanimously.
Finance Director Christine Harkess presented this item and asked that the HRA not waive the statutory tort liability limits. She indicated this was not a change from previous years and does result in a lower premium for the HRA.
Commissioner Rowan moved, Commissioner Halverson seconded, to approve renewal of the LMCIT Insurance Policy for the HRA and to not waive the statutory tort liability limits to the extent of the coverage purchased. The motion was approved unanimously.
Ms. Elverum presented this item and explained that both agreements were necessary in order for the Department of Housing & Urban Development (HUD) to provide financing for the project. She indicated that the recommended action is consistent with the HRA’s intent when the Redevelopment Agreement was approved.
Commissioner Brausen moved, Commissioner Halverson seconded, to approve the Fifth Amendment to the First Amended and Restated Contract for Private Redevelopment and the Assignment and Assumption Agreement—Marketplace & Main. The motion was approved unanimously.
Kersten Elverum presented this item and explained how the acquisition of the Park Nicollet property supports the adopted vision of a redeveloped 8th Avenue as the connector between the LRT station at 8th and Excelsior and Mainstreet. She indicated the $1.7 million price had been negotiated down from the original purchase price of $2 million to reflect declining property values.
Commissioner Youakim moved, Commissioner Brausen seconded, to exercise the option between the Hopkins HRA and Park Nicollet Clinic and authorize the execution of the purchase agreement for the former Park Nicollet Clinic property. The motion was approved unanimously.