03-14-2024 HRA MIN SPECIAL - Laserfiche WebLink

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Special Meeting of the Elk River Housing and Redevelopment Authority Held at the Elk River City Hall Thursday, March 14, 2024 Members Present: Chair Denny Chuba, Commissioners Mel Beaudry, Lynn Caswell, Nate Ovall, and Jennifer Wagner Members Absent: None Staff Present: Economic Development Director Brent O'Neil, Economic Development Specialist Josh Mollan, and Sr. Administrative Assistant Jennifer Green I . Call Meeting to Order Pursuant to due call and notice thereof, the meeting of the Elk River Housing and Redevelopment Authority was called to order at 4:00 p.m. by Chair Chuba. 2. Pledge of Allegiance Chair Chuba led the Pledge of Allegiance. 3. Consider an amendment to the purchase agreement between the HRA and Ron Touchette, dated June 21, 2023, for the sale of property at Main Street and Gates Avenue Mr. O'Neil presented the staff report. Ron Touchette with Rock Solid Companies was present to answer questions. Commissioner Wagner stated the agreement was already in place and felt the is only changing dates. She supported the amendment to the purchase agreement. Chair Chuba noted the location will be different than originally proposed. Mr. Touchette indicated the building will be positioned on the corner of Main and Gates rather than being set back due to the building being larger. Moved by Commissioner Wagner and seconded by Commissioner Beaudry to approve the Amendment 1 to the purchase agreement between the HRA and Ron Touchette with Rock Solid Companies, setting the due diligence period to a firm date of May 31, 2024, and to extend the closing date to June 28, 2024, as outlined in the staff report. Motion carried 5-0. Mr. O'Neil stated steps had been previously taken for this area to be a potential TIF district to allow acquisition and demolition costs of the property to be recaptured through a future TIF district. He stated he is considering a legislative request to ask for an extension of the 3-year lookback for recapturing those funds, with the value being over $1 million dollars, due to the recent pandemic happening during that time frame.