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<br /> <br />Housing and Redevelopment Authority Minutes <br />August 20, 2024 <br />--------- <br />Page 4 of 5 <br />with the encumbrance. <br /> <br />The HRA discussed where the utilities were shut off from the curb stop, the city felt highly confident <br />event without evidence, that they were removed from the properties; but they could have been <br />abandoned under the road. Mr. O'Neil stated that per utility standards, water would be disconnected at <br />the main and sewer at the property line. <br /> <br />Commissioner Caswell wondered if the HRA would be willing to agree to a sum up to a certain dollar <br />amount. <br /> <br />Commissioner Wagner asked Mr. Touchette if he'd ever bought a property where he hasn't had to do <br />some remediation. <br /> <br />Mr. Touchette discussed his experience with a building in Maplewood and the proposed language in the <br />draft amendment is directly from that project. <br /> <br />Commissioner Wagner stated she would be willing to share in the costs of remediation but not fully at <br />the expense of the taxpayers. She appreciated what Mr. Touchette was negotiating and didn't feel he <br />would have any trouble filling the second building when built. <br /> <br />Commissioner Ovall agreed with Commissioner Wagner's comments and while it was an inherent <br />nature of these projects, he also had sympathy for the current dynamics. He stated he wouldn't blame <br />Mr. Touchette if the economics didn't work out, but the city needs to consider the constituents with <br />reasonable accomodation. <br /> <br />Mr. O'Neil provided some suggestions for negotiating a resolution and the HRA discussed the <br />language. <br /> <br />Commissioner Ovall suggested a $40,000 seller credit in exchange for removing the representations <br />and warranties from Amendment 4. <br /> <br />Commissioner Wagner agreed with Commissioner Ovall's suggestions, noting it makes sense to do a <br />credit.. <br /> <br />Mr. Touchette suggested a seller credit of $46,000.00. <br /> <br />Commissioner Ovall noted $45,000 would be 10% of the purchase price. <br /> <br />Moved by Commissioner Ovall and seconded by Commissioner Wagner to approve the <br />following proposed amendments to the purchase agreement for the sale of the Main and <br />Gates Property: <br />-A seller credit of $45,000.00 to repair and restore non-compacted soils and buried debris <br />associated with demolition and fill of former structures on the properties. <br />-The buyer is aware of the existing water service at 425 3rd St. NW and accepts the <br />encumbrance. <br />Motion carried 4-0. <br /> <br />Mr. O'Neil stated with the HRA's motion that staff would work with Mr. Touchette to draft an updated <br />Amendment 4 document with the agreed upon terms, including the known water utility encumbrance