10-14-1996 HR MIN - Laserfiche WebLink

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Elk River HRA Meeting Page 2 October 14, 1996 • due on July 1, 1997 unless the HRA closes on the sale of the properties to the developer at that same time. Denny Chuba Co. has indicated in his letter of intent that he will construct an $800,000 to $1,000.000 building and pay a minimum of$225,000 for the property. Mayor Duitsman stated it would be a benefit for the City to incorporate energy efficient technology in the new building since Elk River is now designated as an Energy City. Commissioner Farber arrived at this time (5:21 p.m.). COMMISSIONER KROPUENSKE MOVED TO APPROVE THE KING AND MAIN LOAN REPAYMENT SCHEDULE. COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 5-0. 6. Request City Council to Call Public Hearing for Creation of TIF District No. 16 COMMISSIONER HINKLED MOVED TO HAVE CITY COUNCIL CALL A PUBLIC HEARING FOR CREATION OF TIF DISTRICT NO. 16. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 5-0. 7. Other Business • Paul Steinman, Executive Director, received a phone call from Realtor Nancy Bischoff regarding the house for sale on Jackson Avenue and 6th Street. The HRA discussed the purchase of the home and will have Paul Steinman look into possibly bonding for the purchase of the home. Chair Schuldt stated a reserve fund for the HRA should be created for downtown re-development for sidewalks, etc. and should be discussed each • year during budget time. Mayor Duitsman would like to see King Avenue possibly closed and the creation of angle parking to help ease the shortage of parking downtown. 8. Adjournment There being no further business, COMMISSIONER HINKLE MOVED TO ADJOURN THE MEETING. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 5-0 The meeting of the Elk River Housing and Redevelopment Authority was adjourned at 5:48 p.m. Respectfully submitted, • Michelle Dwyer Recording Secretary