01-03-2005 HR MIN - Laserfiche WebLink

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Housing & Redevelopment Authority Page 3 January 3, 2005 MOVED BY COMMISSIONER MOTIN AND SECONDED BY COMMISSIONER LIESER TO DESIGNATE THE FOLLOWING OFFICIAL DEPOSITORIES FOR THE HRA FOR 2005: • FIRST NATIONAL BANK OF ELK RIVER • 4M FUND • WELLS FARGO BANK • THE BANK OF ELK RIVER • USBANK • RIVERVIEW COMMUNITY BANK OF OTSEGO (Contingent upon City Council designation of this bank as a depository) MOTION CARRIED 4-1. Comnussioner Toth voted against. Conunissioner Toth stated that he doesn't believe it is necessary to designate banks outside Elk River as official depositories. e. Discussion of Bylaws and anv Suggested Amendments Ms. Mehelich reviewed the proposed changes to the HRA Bylaw Sections 2.1 and 2.5 regarding moving the HRA Annual Meeting and Regular Meeting Times. MOVED BY COMMISSIONER TOTH AND SECONDED BY COMMISIONER KUESTER TO APPROVE THE FOLLOWING AMENDMENTS TO THE HOUSING AND REDEVELOPMENT AUTHORITY BYLAW SECTIONS 2.1 AND 2.5: 2.1.) ANNUAL MEETING - "ANYANNUAL MEETING FALLING UPON A HOLIDAY SHALL BE HELD ON THE NEXT FOLLOWING BUSINESS DAYAT THE SAME TIME AND LOCATION." 2.5.) REGULAR MEETING - "ANYREGULAR MEETING FALLING UPON A HOLIDAY SHALL BE HELD ON THE NEXT FOLLOWING BUSINESS DAYAT THE SAME TIME AND LOCATION." MOTION CARRIED 5-0. 6. Downtown Revitalization Project Update Director of Economic Development Catherine Mehelich stated that the HRA and City Council both approved the final development agreement with MetroPlains Development for the Downtown Revitalization Project. Ms. Mehelich stated that the amendments made by the HRA have been included in the final agreement and the agreement has recently been executed by the city and the developer. She stated that MetroPlains is continuing to make progress on finalizing a purchase agreement with the final two Bluff Block properties, US Bank and Nadeaus.