Laserfiche WebLink
Motion by Commissioner Tossey, seconded by Commissioner Ramsey, to approve Work Order <br />number RAM 12025 for $34,600 and direct staff to execute the agreement and proceed with the <br />effort outlined. <br />Motion carried. Voting Yes: Chairperson McGlone, Commissioners Tossey, Ramsey, Backous, <br />Elvig, and Strommen. Voting No: None. Abstain: Commissioner Wise. <br />5.05: Approve Agreement Related to Pre -payment — The Residence at The COR <br />This case was considered prior to Case 5.01. <br />5.06: Approve Option Agreement — Edgewood Management Group (portions may be <br />closed to the public) <br />Development Manager Lazan reviewed the staff report and asked if the HRA would like to <br />discuss the option agreement/purchase agreement details in closed session. <br />The HRA indicated it would discuss this case during open session. <br />Commissioner Strommen asked if it will come back for site approval. <br />HRA Counsel Bray stated the consideration is granting Edgewood Management Group an option <br />to purchase one of the two sites on the terms set forth in the Purchase Agreement. If nothing is <br />finalized within 60 days, then it expires. During the 60 days, Edgewood Management Group can <br />sign one of the Purchase Agreements and with the required earnest money, the HRA would be <br />obligated to sell under those terms. <br />Commissioner Strommen asked if discussion of TIF is a separate issue so the City is not <br />obligated on TIF. <br />HRA Counsel Bray advised there is no obligation on the part of the City to grant TIF. <br />Motion by Commissioner Elvig, seconded by Commissioner Wise, to accept the Option <br />Agreement and Purchase Agreements outlined and direct staff to have the HRA Chair and HRA <br />Executive Director to Execute the Agreement. <br />Further discussion: Development Manager Lazan advised that once the Option Agreement is <br />signed, the details will be public. <br />Motion carried. Voting Yes: Chairperson McGlone, Commissioners Elvig, Wise, Backous, <br />Ramsey, Strommen, and Tossey. Voting No: None. <br />6. DEVELOPMENT TEAM REPORT <br />Development Manager Lazan stated they are preparing for the train station opening. <br />Housing and Redevelopment Authority / October 16, 2012 <br />Page 10 of 11 <br />