HRA Minutes

September 7, 2010

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.

  1. Call To Order
    The meeting was called to order at 7:17 pm.
  2. Open Agenda - Public Comments
    1. No one from the public came forward to speak.
  3. Consent Agenda
    1. Approve minutes of the August 2, 2010, regular meeting
    2. Approve minutes of the August 17, 2010, special meeting
    3. Approve disbursements through August 31, 2010

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

  4. New Business
    1. ITEM 2010-09     Renewal of General Liability and Property
      Insurance; Authorization of Not Waiving Statutory Tort Liability Limits

      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.

    2. ITEM 2010-10   Approval of Fifth Amendment to First Amended and Restated Contract for Private Redevelopment
      and Assignment and Assumption Agreement
      Marketplace & Main

      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.

    3. ITEM 2010-11  Approve exercising option and execution of
      Purchase agreement for Park Nicollet property

      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.

  5. Adjournment
    Commissioner Brausen moved, Commissioner Halverson seconded, to adjourn the meeting.  The motion was approved unanimously. The meeting adjourned at 7:35 p.m.