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5.01: Consider Offer to Purchase Outlot A of Ramsey Town Center 8th Addition (Portions <br />closed to the public) <br />5.02: Consider Offer to Purchase Outlot A of Ramsey Town Center 7th Addition (Portions <br />closed to the public) <br />Executive Director Ulrich stated the City has received two purchase offers and recommended the <br />HRA consider both in Closed Session. He described the location of Outlot A of Ramsey Town <br />Center 8 Addition (3 acres planned for townhouse with some utilities already installed) and <br />Outlot A of Ramsey Town Center 7 Addition (3.38 acres planned for multi - level, multi - family <br />housing). <br />Executive Director Ulrich advised that under Minnesota Statutes, the meeting can move into <br />closed session to discuss confidential or non - public appraisal data and acquisition negotiations. <br />He indicated closed session discussion will relate to the purchase offer for Outlot A of Ramsey <br />Town Center 8 Addition and the purchase offer for Outlot A of Ramsey Town Center 7th <br />Addition for future development. The closed session will be tape recorded and that tape will be <br />maintained for a period of eight years. <br />Motion by Commissioner Riley, seconded by Commissioner LeTourneau, to move to Closed <br />Session to discuss acquisition negotiations. <br />Motion carried. Voting Yes: Chairperson Backous, Commissioners Riley, LeTourneau, Kuzma, <br />Strommen and Tossey. Voting No: None. <br />The HRA meeting moved into a Closed Session at 7:53 p.m. <br />The HRA reconvened in Open Session at 8:29 p.m. <br />Executive Director Ulrich stated the HRA held discussion on the two purchase offers and no <br />final decision was reached except to direct staff to clarify the numbers and continue negotiations. <br />6. DEVELOPMENT TEAM REPORT <br />Executive Director Ulrich provided an update on progress with the McDonald's project, Flaherty <br />& Collins lease up, search for an Economic Development Manager, and TIF study of the 400 <br />acres within The COR. He estimated it may take three to four weeks to demolish the book store. <br />Finance Director Lund stated Flaherty & Collins did not meet the deadline of July 16, 2013, to <br />make a $2 million payment to obtain reduced principle payments on their first loan. <br />7. COMMISSIONER INPUT <br />None. <br />8. ADJOURNMENT <br />Housing and Redevelopment Authority / July 23, 2013 <br />Page 2 of 3 <br />