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Mr. Lazan said staff will work to pare the block down, better define the square, and research <br />other solutions. <br />Commissioner Backous suggested a phased development plan instead. <br />Chairperson Jeffrey asked staff to obtain engineering costs for road construction as well as <br />SAC/WAC charges. <br />Case #2: Consider Waiver of Rail Station Contingency for Flaherty and Collins — The <br />Residence of The COR Project <br />HRA Executive Director Nelson reviewed the staff report. <br />Development Manager Lazan outlined the deadline of January 28 to object if we don't believe we <br />can complete a rail station by summer 2012. He added no action allows the HRA to continue to <br />a purchase agreement, noting this is not a ramp contingency but a train contingency. <br />HRA Executive Director Nelson said staff will need four months lead time before starting the <br />ramp, adding that in order for Flaherty to use TIF funds they have to start work by June 30, 2011. <br />Commissioner Wise said he thought the date was for Flaherty to back out, adding this is a <br />financing contingency that could be too late. <br />Mr. Lazan said if the HRA wants to moves forward with the ramp we must commit to MnDOT. <br />He said the question is would the HRA build the ramp regardless of Flaherty and Collins' status. <br />Commissioner Backous asked about the risks, adding ramp space will be needed at a future point <br />anyway. <br />Mr. Lazan said the risks include losing grant funds as no other extensions will be allowed, <br />resulting in a poor relationship and image with MnDOT for pulling from the project. <br />Public Works Director Olson outlined the HRA's options and risks relating to both actions, <br />adding the ramp has to start before June 2011 or the agreement will advance to the next year. <br />City Administrator Ulrich said if Flaherty and Collins backs out, we would have expended only <br />$40,000 of design costs for the revision portion. <br />Discussion was held on the associated risks of moving forward with the ramp, including Flaherty <br />and Collins' ability to obtain financing and the likelihood of obtaining $3.5 million in grant <br />funding again <br />City Administrator Ulrich provided a status update of the rail station. He indicated that all <br />markers are encouraging for station construction in 2012. <br />Commissioner Wise asked about design changes should Flaherty and Collins back out. <br />Housing and Redevelopment Authority / January 25, 2011 <br />Page 3 of 5 <br />