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Commissioner Riley asked whether the project costs would be divided between the three <br />purchasers. <br />Deputy Executive Director Gladhill confirmed the cost would be divided on a pro rata share to <br />each of the three users. <br />HRA Executive Director Ulrich presented the cost breakdown, noting $42,870 is the cost to <br />McDonalds. <br />Commissioner Riley asked if that is in addition to the purchase price for McDonalds. <br />HRA Executive Director Ulrich stated that is correct and SuperAmerica would contribute <br />$89,000 towards the improvements for its two sites. <br />Commissioner Riley asked how the City will fund the improvements. <br />Deputy Executive Director Gladhill stated the process would not move forward to award of bid <br />unless there was a signed purchase agreement. He indicated any funding gap would be identified <br />at the next meeting. <br />The consensus of the HRA was to support moving ahead with HRA initiated improvements as <br />recommended by staff and legal counsel. <br />6. DEVELOPMENT TEAM REPORT <br />HRA Executive Director Ulrich reported that SuperAmerica continues to express interest and <br />indicated the Armstrong location is one of the top five corporate approved sites for 2013 <br />construction. SuperAmerica is also interested in another Ramsey site for construction in 2014. <br />HRA Executive Director indicated McDonalds is actively pursuing building plan approval and <br />moving forward with closing. He reported that Solomon Group agreed to a letter of intent to <br />solidify easements and rights -of -way needed with the re -plat. In addition, there has been some <br />interest in the North Commons lots. <br />HRA Executive Director Ulrich reviewed outstanding Landform contracts, one being The COR <br />Stormwater Management Plan, which is critical to record COR TWO plat. He noted there is still <br />$62,780 of approved Landform engineering contracts that are not yet completed. <br />7. COMMISSIONER INPUT <br />None. <br />8. ADJOURNMENT <br />Motion by Commissioner Tossey, seconded by Commissioner LeTourneau, to adjourn the <br />regular meeting of the Housing and Redevelopment Authority. <br />Housing and Redevelopment Authority / April 9, 2013 <br />Page 8 of 9 <br />