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HRA 11/25/1986 SPEC - 29346CITY OF FRIDLEY SPECIAL HOUSING & REDEVELOPMENT AUTHORITY MEETING MINUTES NOVEMBER 25, 1985 CALL TO ORDER: Chairperson Commers called the November 25, 1985 Special Housing & Redevelopment Authority meeting to order at 8:18 p.m. ROLL CALL: Members Present: Larry Commers, Duane Prairie, Walter Rasmussen, Virginia Schnabel Members Absent: Elmars Prieditis 1. DEVELOPMENT AT THE 100 TWIN DRIVE -IN PROPERTY • Mr. Qureshi, the Housing & Redevelopment Authority Director, explained the background and development prepared by Woodbridge Properties, Inc. for a nine- unit commercial development on the 100 Twin Drive -In Property to the Housing & Redevelopment Authority and City Council members present. He also defined the redevelopment district criteria associated with the proposal. It was the concensus of the members to support a redevelopment district with an increment period of 18 years in order to allow for the orderly planned construction of this proposal. Support for the plan was predicated upon the ability to obtain the intersection improvements at Highway 65 and Old Central, also the interior road construction and Moore Lake park expansion and improvement within the first phase increment. Subsequent development would be accomplished at no financial cost to the City and will result in a specific quality of development, special exterior treatments, a campus environment, structured parking with increased landscaping space, amenities to the development and Moore Lake park system and protection of the adjoining neighborhoods. Mr. Rasmussen requested a financial statement of the Woodbridge Properties. Ms. Susan J. Nurstrom- Waldon, treasurer of Woodbridge Properties, stated she would meet with Mr. Rasmussen and review the statement with him. It was suggested that a summary notice be sent out to the adjoining neighbors indicating the sequence of events associated with the 100 Twin Drive -In • Property development and any dates so that they could determine which meetings they would be inte:-ested in attending. The neighborhood was determined to include all residents south of 58th Avenue, between 6th Street and Moore Lake north of I -694. The redevelopment agreement for the Woodbridge Properties proposal would be prepared and submitted to the Housing & Redevelopment Authority for consideration at their December 12, 1985 meeting. 2. DEVELOPMENT _OF_THE FRIDLEY PLAZA APARTMENT COMPLE iMr. Qureshi explained to the members that he had received notice that Mr. Lou Lundgren, the developer for the Fridley Plaza Apartments on the southwest corner of University Avenue and Mississippi Street, had decided to reduce the height of the apartment complex from 12 to 6 stories with 119 units and one level of underground parking. Chairman Commers requested that the development proposal be resubmitted to the members at the next meeting to review the financial program due to this change. ADJOURNMENT: Chairperson Commers adjourned the November 25, 1985 Special Housing & Redevelopment Authority meeting at 11:54 p.m. Respectfully submitted, n Flora Acting Secretary