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Commissioner Strommen noted this shows there is no clear correlation whether there is a higher <br />floor area ratio and structured parking ramp requirement. However, she is not comfortable that <br />the Purchase Agreement had expired. <br />Commissioner Riley asked if Asst. City Administrator/Economic Development Manager Brama <br />is saying there is other land for sale at the same price that does not have that parking <br />requirement. <br />Asst. City Administrator/Economic Development Manager Brama stated there are many factors <br />considered with pricing land so to say the parking ramp is the $1/square foot difference may or <br />may not be correct. He stated of the three listings with the same zoning and within one -quarter <br />mile of the Transit Center, two contain parking ramp requirements at $4/square foot and the <br />other is at $5/square foot without the parking ramp requirement. <br />Asst. City Administrator/Economic Development Manager Brama recommended staff be <br />allowed to renegotiate a new Purchase Agreement with the goal to have proper zoning in place <br />and enough time for PSD to perform due diligence. That Agreement can then be presented for <br />consideration at a future meeting. <br />Motion by Commissioner Riley, seconded by Commissioner Tossey, to direct staff to renegotiate <br />a new Purchase Agreement between the Ramsey HRA and PSD, LLC for 13.97 acres of Ramsey <br />HRA-owned land located within The COR. <br />Further discussion: Commissioner Strommen stated support for the motion with staff assuring <br />PSD that the HRA still supports the project. Commissioner Tossey stated he does not think there <br />will be other purchase offers but the motion will allow the HRA to make the changes before the <br />fact. <br />Motion carried. Voting Yes: Acting Chairperson LeTourneau, Commissioners Riley, Tossey, <br />Johns, Kuzma, and Strommen. Voting No: None. Absent: Chairperson Backous. <br />6. EXECUTIVE DIRECTOR'S REPORT <br />None. <br />7. COMMISSIONER INPUT <br />None. <br />8. ADJOURNMENT <br />Motion by Commissioner Kuzma, seconded by Commissioner Tossey, to adjourn the regular <br />meeting of the Housing and Redevelopment Authority. <br />Motion carried. <br />Housing and Redevelopment Authority / September 23, 2014 <br />Page 5 of 6 <br />