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12/03/1997 - Housing and Redevelopment Authority MINUTES OF A REGULAR MEETING OF THE EAGAN HOUSING AND REDEVELOPMENT AUTHORITY BOARD Eagan, Minnesota December 3, 1997 A meeting of the Eagan Housing and Redevelopment Authority Board was held on Wednesday, December 3,1997 at 6:40 p.m. at the Eagan Municipal Center. Present were Chair Egan and Board Members Wachter, Awada, Masin and Blomquist. Also present were City Administrator Tom Hedges, Senior Planner Mike Ridley, Director of Public Works Tom Colbert, and City Attorney Jim Sheldon. City Administrator Hedges provided the background and history of the Cinnamon Ridge project. He explained that representatives of the Cinnamon Ridge Limited Partnership are requesting the City assist in the restructuring of the Multi-Family Housing Revenue Refunding Bonds. He noted that numerous meetings have been held with the Cinnamon Ridge representatives, City staff and the City's fiscal consultant to ensure that the Cinnamon Ridge project is and will remain healthy and the financing due the City will be collected. Chair Egan said that staff is satisfied that the reasons for this request are meritorious and are beneficial to the City. City Administrator Hedges said that he feels staff has worked out a good agreement with all parties. Board Member Wachter moved, Board Member Awada seconded a motion to approve a resolution approving amendment to the interest rate reduction loan with Cinnamon Ridge Limited Partnership. Aye: 5 Nay: 0 The meeting adjourned at 6:45 p.m. to the regular City Council meeting. MLK Date December 3, 1997 If you need these minutes in an alternative form such as large print, Braille, audio tape, etc., please contact the City of Eagan, 3830 Pilot Knob Road, Eagan, MN 55122, (612) 681-4600, (TDD phone: (612) 454-8535). The City of Eagan is committed to the policy that all persons have equal access to its programs, services, activities, facilities and employment without regard to race, color, creed, religion, national origin, sex, disability, age, sexual orientation, marital status or status with regard to public assistance.