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Motion by Commissioner McGlone, seconded by Commissioner Elvig, that the HRA create, develop and sell up to 7 residential lots in and around "North Commons" for the purpose of initiating certain park improvements and allocating 100% of any proceeds to the park. Discussion: Vice Chair Ramsey indicated there has been interest by builders and they seem to have a desire to have larger lots. He stated he would like to have this item on an agenda again and when the item is submitted back to the Council or HRA, it can be re- worked and possibly proposed to work in phases. Commissioner Wise questioned what the area is zoned for. Senior Planner Gladhill responded he did not have the exact number but he said it would be consistent with density standards with the rest of the area. Commissioner McGlone called the question, seconded by Vice Chair Ramsey. Motion failed. Voting Yes: Vice Chair Ramsey, Commissioners McGlone, and Elvig. Voting no: Commissioners Tossey and Wise. Absent: Chairperson Jeffery and Commissioner Backous. COMMITTEE REPORTS None. EXECUTIVE DIRECTOR'S REPORT HRA Executive Director Nelson stated she, along with City Administrator Ulrich, Commissioner McGlone and Planning Intern Brama testified in regard to requested amendments to the City's TIF legislation. She also reported that staff is preparing for an event this week at the Minnesota Shopping Centers Association in St. Louis Park, and for a tour on Thursday for the Northstar Transit Oriented Development Tour. Marketing materials are being developed and assembled and sponsors are recruited. HRA Executive Director Nelson explained discussions are continuing with Flaherty and Collins and a finance team. There have been conference calls with the financial advisor and the real estate attorney. This item will be submitted to the Council at their next meeting for options and recommendations. Economic Development/Marketing Manager Backman reported preparations are in progress for the Business Expo on April 30. He mentioned that Clear Choice Countertops, one of the businesses that previously received an RLF Loan, paid off the loan three years early (about $12,700). He provided an update on the MultiSource Manufacturing expansion. They expect to be completed with renovations with the building on Sunwood Drive by June 2011 and will start with 85 employees. He noted that there has been a signed purchase agreement for the Wyatt or Diamonds Property on Highway 10. He also explained that there have been a number of activities related to the project with Jeff LaFavre on the Bury & Carlson site. No decision by the company's board has been made in terms of expansion and in March had indicated the process was taking longer than originally planned. The City of Ramsey is in the running, but they are considering other sites in other states. Housing and Redevelopment Authority / April 26, 2011 Page 4 of 6