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<br /> <br />Housing and Redevelopment Authority Minutes <br />July 1, 2024 <br />--------- <br />Page 4 of 6 <br />challenges being faced by the developer. He stated the commission was aware of these challenges and <br />having Mr. Touchette take on the project at the price knowing these challenges allows for him to be <br />supportive of this request. <br /> <br />Mr. Touchette indicated he also wants to respect the homeowner who is currently residing on the <br />remaining parcel. <br /> <br />Commissioner Beaudry understood the situation. <br /> <br />Moved by Commissioner Ovall and seconded by Councilmember Wagner to approve <br />Amendment Three to the Purchase and Sale Agreement for the Main and Gates <br />Properties that was distributed during the HRA meeting. Motion Carried 5-0. <br /> <br /> 6.3 General Updates <br /> Mr. O'Neil stated the downtown furniture was finalized and placed in the greenspace at the former Elk <br />River Meats site. <br /> <br />Mr. O'Neil stated he heard reference to the synergy between senior housing and workforce housing at <br />a recent EDA conference, and how both are important drivers in the community's economy. He <br />explained the speaker stated when there is good senior housing available in your community, it actually <br />allows for better turnover in workforce housing. <br /> <br />Mr. Mollan shared his tidbit from the conference with a quote: Today's great work is tomorrow's <br />baseline. He stated he heard it in reference to a New Richmond, Wisconsin library being built together <br />with mixed use, housing, and office space. Mr. Mollan stated he will have at least two bids for next <br />month's meeting for the HRA to consider regarding the downtown flower baskets contract. <br /> <br />Mr. O'Neil asked the HRA to keep in mind for a potential future meeting topic for the property located <br />at 555 Railroad Drive. He stated it may be for sale for a partnership opportunity for either an HRA or <br />EDA. <br /> <br />7. MOTION TO ADJOURN REGULAR MEETING <br /> Moved by Commissioner Caswell and seconded by Commissioner Wagner to adjourn the <br />regular meeting at 6:04 p.m. and go into work session. Motion Carried 5-0. <br /> <br />8. WORK SESSION – UPPER TOWN CONFERENCE ROOM <br /> Chair Chuba opened the work session at 6:09 p.m. <br /> <br /> 8.1 Redevelopment of 19116 Troy Street NW <br /> Mr. O'Neil presented the staff report and introduced city attorney Jack Brooksbank, who specialized in <br />eminent domain law, and was present to provide answers and guidance on the opportunity presented <br />to the HRA regarding 19116 Troy Street NW. The discussion continued from last month's work <br />session and Mr. O'Neil indicated the property appraisal came in at $75,000 based upon the condition of <br />the property and area comps. He distributed a comparables and investment worksheet to the <br />commission outlining recent property sales similar to this and the potential acquisition costs should the <br />HRA decide to proceed with the acquisition. He asked a question to Mr. Brooksbank if any of these