01-08-1991 HR MIN - Laserfiche WebLink

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Housing and Redevelopment Authority Page 2 January 8, 1991 • 4.3 Official Depository COMMISSIONER KROPUENSKE MOVED TO HAVE THE BANK OF ELK RIVER AS THE HRA OFFICIAL DEPOSITORY FOR 1991. COMMISSIONER TOTH SECONDED THE MOTION. THE MOTION CARRIED 4-0. 5. Financial Update Finance Director, Lori Johnson, reviewed with the HRA the 1990 year end financial summary and the 1991 approved budget. The HRA discussed the merits of spending some of its available funds on smaller annual activities versus reserving its funds for a number of years until they accumulate and can be applied towards a more substantial project. No consensus of the HRA was reached regarding this issue and it was determined that the HRA would review funding activities and projects on a case by case basis. The City Administrator reviewed with the HRA, three activities that are expected to take place in 1991. It was noted that HRA funds could be used on any of the activities. The three activities discussed were the riverbank protection project (rip rap) , purchase and marketing of the Jenne hardware site and removal of old City Hall (Creamery) . The HRA indicated that of the three projects, the removal of old City Hall was most suitable for utilizing HRA funds. It was noted that the City • Council will be considering this issue in early 1991, and also would be considering whether the site should be sold or retained under the City ownership. The HRA discussed the possibility of saving the creamery structure, but it was acknowledged that this appears unlikely. 6. Other Business No items were presented at this time. 7. Adjournment There being no further business, COMMISSIONER KROPUENSKE MOVED TO ADJOURN THE HRA MEETING. COMMISSIONER TOTH SECONDED THE MOTION. THE MOTION CARRIED 4-0. The meeting of the HRA was adjourned at approximately 7:50 p.m. Respectfully submitte , Patrick D. Klae City Administrator •