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Motion carried. Voting Yes: Chairperson Backous, Commissioners Kuzma, LeTourneau, Riley, <br /> Strommen, and Tossey. Voting No:None. <br /> 4. APPROVAL OF MINUTES <br /> Motion by Commissioner LeTourneau, seconded by Commissioner Riley, to approve the <br /> following minutes: <br /> Regular Meeting Minutes dated April 9, 2013 <br /> Motion carried. Voting Yes: Chairperson Backous, Commissioners LeTourneau, Riley, Kuzma, <br /> Strommen, and Tossey. Voting No:None. <br /> 5. HRA BUSINESS <br /> 5.01: Approve Letter of Intent with Sophia-Ramsey, LLC <br /> HRA Executive Director Ulrich reviewed the staff report and recommendation to approve a <br /> Letter of Intent with Sophia-Ramsey, LLC, and file the plat for the Sunwood retail area known as <br /> COR 2. It was noted this work will be completed by the end of the calendar year. <br /> Motion by Commissioner Strommen, seconded by Commissioner Tossey, to approve the non- <br /> binding Letter of Intent with Sophia-Ramsey, LLC, as presented. <br /> Motion carried. Voting Yes: Chairperson Backous, Commissioners Strommen, Tossey, Kuzma, <br /> LeTourneau, and Riley. Voting No:None. <br /> 5.02: Discuss COR Strategy <br /> HRA Executive Director Ulrich reviewed the staff report, history of the Ramsey Town Center <br /> and re-branding as The COR, and detailed the pros and cons of the following strategy options: 1) <br /> Continue as is; 2) Contract with a broker; or, 3) Solicit proposals for all or large pieces of The <br /> COR to sell to a developer. He stated staff has requested a TIF analysis proposal for cost and <br /> scope of services. HRA Executive Director Ulrich asked the HRA to provide direction to staff as <br /> to which strategy it supported. <br /> Commissioner Tossey stated he believed that development should be in private hands and <br /> supported Strategy 3, Solicit proposals for all or large pieces of The COR to sell to a developer. <br /> He asked if there is a State Statute relating to timeline for development of HRA land by a <br /> developer. <br /> HRA Executive Director Ulrich stated once the property is sold for development, there is a <br /> timeline and staff will research and provide that information. <br /> Housing and Redevelopment Authority/April 23,2013 <br /> Page 2 of 5 <br />