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Motion carried. Voting Yes: Chairperson Backous, Commissioners Riley, Kuzma, Johns, <br />LeTourneau, Strommen, and Tossey. Voting No: None. <br />5. HRA BUSINESS <br />5.02: Continue Consideration of Affordable Housing Developer Letter of Interest for <br />Development of a Portion of Parcel 47 (West of The Residence at The COR and East <br />of Coborn's) <br />Executive Director LaFrance reviewed the staff report and indicated the HRA received an <br />adjusted Letter of Interest (LOI) from a regional affordable housing developer. He advised that <br />under Minnesota Statutes 13D.05, Subd. 3, the meeting can move into Closed Session to discuss <br />the Letter of Intent from a regional affordable housing developer for the development of a <br />portion of Parcel #47, located west of The Residence at The COR and east of Coborn' s. <br />Motion by Commissioner LeTourneau, seconded by Commissioner Riley, to move to Closed <br />Session to discuss an adjusted Letter of Interest. <br />Motion carried. Voting Yes: Chairperson Backous, Commissioners LeTourneau, Riley, Johns, <br />Kuzma, Strommen and Tossey. Voting No: None. <br />The HRA meeting moved into a Closed Session at 7:58 p.m. <br />The HRA reconvened in Open Session at 8:38 p.m. <br />HRA Executive Director LaFrance stated the HRA discussed the LOI and authorized staff to <br />negotiate a Development Agreement and Purchase Agreement, with contingencies, with <br />Common Bond, an affordable housing developer. <br />5.01: Consider Resolution Requesting Anoka County HRA Support for Affordable <br />Housing Development <br />Executive Director LaFrance reviewed the staff report and stated the HRA authorized staff to <br />negotiate a Development Agreement and Purchase Agreement contingent upon requesting <br />funding through the Anoka County HRA funds. Executive Director LaFrance stated staff <br />recommends adoption of the resolution to make that funding request. <br />Commissioner Tossey stated his intent to oppose this motion as it asks Ramsey's citizens to <br />subsidize a development within The COR. <br />Chairperson Backous stated his support for the motion as the Anoka County HRA funds have <br />already been levied against Ramsey' s citizens and the money is being held within an account by <br />Anoka County. <br />Housing and Redevelopment Authority / April 22, 2014 <br />Page 2 of 3 <br />