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Chairperson Backous supported staff's negotiation, noting this project will generate tax dollars <br />even if TIF related at the beginning <br />Motion by Commissioner Kuzma, seconded by Commissioner Johns, to authorize the execution <br />of a Purchase Agreement between the HRA and PSD, LLC, for the purchase of Outlots A and B, <br />and a portion of Lot 1, Block 1, RTC 1 lth Addition, subject to review by the City Attorney. <br />Further discussion: Commissioner Strommen stated support for this favorable proposal, noting it <br />also includes a quick closing. Chairperson Backous agreed and added that the sale price is at the <br />high range and involves no City assistance. Deputy Executive Director Gladhill stated it must be <br />made clear to PSD that the project has to meet the City's existing development plan, floor area <br />ratio, and parking demand that calls for structured parking. Commissioner Riley stated support <br />for the motion, noting it puts the property in the hands of the private developer. He asked if the <br />tiered development includes any holding period. HRA Executive Director LaFrance stated he <br />consulted with the City Attorney and found there is not requirement for the HRA to dedicate that <br />land within one year. <br />Motion carried. Voting Yes: Chairperson Backous, Commissioners Kuzma, Johns, LeTourneau, <br />Riley, and Strommen. Voting No: None. Absent: Commissioner Tossey. <br />5.03: Resolution #HRA 14-07-145 Authorizing Sale of Real Property Owned by the HRA <br />in The COR to PSD, LLC <br />HRA Executive Director LaFrance reviewed the staff report and recommendation to approve <br />Alternate 1, approve a resolution authorizing the sale of HRA real estate in The COR to PSD, <br />LLC, with an adjustment to the pricing. <br />Motion by Commissioner Riley, seconded by Commissioner Kuzma, to adopt Resolution #HRA- <br />14-07-145 Authorizing Sale of Real Property Owned by the Ramsey Housing and <br />Redevelopment Authority of the City of Ramsey to PSD, LLC, as corrected by staff. <br />Motion carried. Voting Yes: Chairperson Backous, Commissioners Riley, Kuzma, Johns, <br />LeTourneau, and Strommen. Voting No: None. Absent: Commissioner Tossey. <br />6. EXECUTIVE DIRECTOR'S REPORT <br />HRA Executive Director LaFrance provided an update on development activities. <br />7. COMMISSIONER INPUT <br />None. <br />8. ADJOURNMENT <br />Motion by Commissioner LeTourneau, seconded by Commissioner Johns, to adjourn the regular <br />meeting of the Housing and Redevelopment Authority. <br />Housing and Redevelopment Authority / July 22, 2014 <br />Page 3 of 4 <br />