Laserfiche WebLink
Chairperson McGlone noted this is the first HRA meeting since the expiration on January 15 and <br />asked whether that date needs to lapse before the HRA can take action and decide if it wants to <br />continue further or prepare documents to cancel. <br />City Attorney Goodrich advised that often the date of closing passes by and the HRA's remedy is <br />to prepare a cancelation, serve it on Toti /Suite Living, and then Toti /Suite Living has 30 days to <br />perform or not perform. <br />Chairperson McGlone stated he had no problem calling a special meeting. <br />Commissioner Ramsey stated we all want to assure we keep our "eye on the ball." <br />Development Manager Lazan stated the reason he did not bring it forward tonight is Toti/Suite <br />Living introduced the complexity of a close with 50% and he wants to vet that option before <br />presenting it to the HRA. Development Manager Lazan indicated he has told Toti /Suite Living <br />that an extension would be a substantial fee and nonrefundable because of the high cost for the <br />HRA to bring in another developer to meet the 2012 closure. <br />Commissioner Elvig stated he knows the buyer has been putting up funds but his concern <br />remains with the process and he wants the HRA to be informed when coming to a closing date or <br />a deadline that is not met. Commissioner Elvig suggested the HRA be informed ten days in <br />advance. <br />Commissioner Tossey agreed and suggested Development Manager Lazan provide weekly <br />updates and calendar with contract deadlines and expected closing. <br />The HRA agreed with this suggestion. <br />Development Manager Lazan stated he had brought up Toti /Suite Living during the last HRA <br />meeting and indicated they were discussing extension terms. <br />Commissioner Elvig took exception to that statement, noting he had asked Development <br />Manager Lazan several weeks ago for an update and Mr. Lazan had said he hadn't gotten that <br />information yet and wanted it before the end of the extension. <br />ADJOURNMENT <br />Motion by Commissioner Backous, seconded by Commissioner Tossey, to close the regular <br />meeting of the Housing and Redevelopment Authority. <br />Motion carried. <br />The regular meeting of the Housing and Redevelopment Authority adjourned at 8:38 p.m. <br />Respectfully submitted, <br />Housing and Redevelopment Authority / January 24, 2012 <br />Page 4 of 5 <br />