4.1. HRA DRAFT MINUTES 07-02-2018 City of
Elk Regular Meeting of the Elk River
River Housing and Redevelopment Authority
Held at the Elk River City Hall
Monday, June 4, 2018
Members Present: Chair Larry Toth, Commissioners Denny Chuba, Michelle Eder, and Nate
Ovall
Members Absent: Commissioner Louise Kuester At
Staff Present: Economic Development Director Amanda Othoudt, Economic
Development Specialist Colleen Eddy and Sr. Administrative
Assistant/Recording Secretary Jennifer Green
I. Call Meeting to Order < '& N
Pursuant to due call and notice thereof, the meeting of the Elk River Housing and
Redevelopment Authority was called to order at 5:31 p.m, by Chair Toth.
2. Pledge of Allegiance
The Pledge of Allegiance was recited.
3. Consider 06/04/2018 Agenda
Motion by Commissioner Ovall and seconded by Commissioner Eder to approve the
June 4 2018 HRA a enda.
Motion carried 4-0.
4. Consent Agenda
Moved by Commissioner Ovall and seconded by Commissioner Chuba to approve
the June 4, 2018, consent agenda as follows:
4.1 Meeting minutes:
■ May 7, 2018, Regular
■ May 11, 2018, Closed
■ May 22, 2018, Special
4.2 Check Register.
4.3 Balance Sheet.
4.4 Revenues and Expenditures report.
4.5 Downtown TH 10 and Lowell Ave. TIF Analysis Proposal as outlined
in the staff report.
Housing and Redevelopment Minutes Page 2
June 4,2018
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Motion carried 4-0.
S. Open Forum
No one appeared for Open Forum.
6. Public Hearings
There were no public hearings.
7.1 HRA Rehabilitation Program Update
Ms. Eddy presented the staff report.
7.2 414 and 430 Main Street Purchase
Ms. Othoudt presented the staff report. She provided the HRA with updated purchase
agreements for both properties and explained the changes made in the purchase price,
recognizing the provisions of Section 1031 of the Internal Revenue Code of 1986, also
known as a 1031 exchange adjustment. She stated the property owner of 414 Main Street
requested to keep the 1-stall garage to relocate it from the property,if the HRA was in
agreement with that. Ms. Othoudt indicated an agreement would be drafted outlining the
conditions and any potential liabilities of the garage relocation. It was the consensus of the
HRA to allow for removal of the garage with an agreement to be approved at a future HRA
meeting.
Motion by Commissioner Chuba and seconded by Commissioner Ovall to approve
Resolution 18-02 approving the purchase of certain property located at 414 Main
Street NW, Elk River, MN, for the purchase price of$120,000.00 and a closing date
on or before July 2, 2018, as outlined in the updated purchase agreement.
Motion carried 4-0.
Motion by Commissioner Ovall and seconded by Commissioner Chuba to approve
Resolution 18-03 approving the purchase of certain property located at 430 Main
Street NW, Elk River, MN, for the purchase price of$168,000.00 and a closing date
on or before July 2, 2018, as outlined in the updated purchase agreement.
,,,
Motion carried 4-0.
7.3 Propose Date for HRA Budget Workshop
Ms. Othoudt stated that July 2, 2018,has tentatively been set for the HRA budget workshop.
The consensus of the HRA was to begin the workshop at 4:30 p.m.
Housing and Redevelopment Minutes Page 3
Julie 4,2018
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8. Adjournment
Chair Toth adjourned the meeting at 5:45 p.m.
Minutes prepared by Jennifer Green.
Tina Allard, City Clerk
Larry Toth, Chair
Housing&Redevelopment Authority