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HomeMy WebLinkAboutHRA mtg Feb 13, 2017HOUSING & REDEVELOPMENT AUTHORITY MINUTES OF THE MEETING OF FEBRUARY 13, 2017 Call to order – The meeting was called to order by Chair Murzyn at 8:10 pm. Roll Call – Members present: Donna Schmitt, Bobby Williams, John Murzyn Jr., and Connie Buesgens. Others Present: Executive Director Walt Fehst, Deputy Director Joe Hogeboom, and HRA Attorney Martha Ingram. Approve Minutes from August 1, 2016 and January 9, 2017. Motion by Buesgens, seconded by Schmitt, to approve the minutes from August 1, 2016 and January 9, 2017 as presented. All ayes. MOTION PASSED. BUSINESS ITEM Amended and Restated Collateral Assignment of Note and Mortgage in Connection with the terms of Conveyance of Parkview Villa-Resolution 2017-02. HRA Attorney Martha Ingram was present to discuss the memorandum included in the packet and copied below. As the memorandum explains, Aeon’s legal counsel recently approached HRA staff regarding a request to correct a perceived error in the Collateral Assignment of Note related to the sale of Parkview Villa. Attorney Ingram explained the situation, and asked the HRA to consider approval of Resolution 2017-02. Copy of the Memo and the Amended and Restated Collateral Assignment of Note and Mortgage: MEMORANDUM To: Housing and Redevelopment Authority for Columbia Heights, Minnesota From: Martha Ingram, Kennedy & Graven Re: Parkview Villa Matters Date: January 31, 2017 On September 24, 2015, the Housing and Redevelopment Authority for Columbia Heights, Minnesota (the “Authority”) sold the HUD-supported multifamily rental housing facility known as Parkview Villa (the “Facility”) to Aeon, a nonprofit housing organization (“Aeon”). A portion of the purchase price for the Facility was deferred by means of a promissory note in the amount of $6,585,000 given to the Authority by Aeon (the “Aeon Note”), secured by a collateral assignment (the “Assignment”) of a promissory note (the “Partnership Note”) and mortgage (the “Mortgage”) given to Aeon by its limited partner, Parkview Limited Partnership (the “Partnership”), which is the entity that actively manages the Facility. The Aeon Note does not bear interest. However, the Partnership Note bears interest at the rate of 2.64% per annum. The Partnership Note is structured as a cash-flow note and is subject to the terms of a Master Subordination Agreement between Aeon, the Partnership, the Minnesota Housing Finance Agency, and the Authority (the “Subordination Agreement”). Pursuant to the Subordination Agreement, interest payments are only due and payable on the Partnership Note if there is sufficient Cash Flow (defined as the excess of any income to the Partnership remaining after Partnership expenses are made) after all required payments under all senior loans are made. To date, no Net Cash Flow has been available to make interest payments on the Partnership Note. At the time Aeon executed the Aeon Note and Assignment, the stated intent of Aeon and the Partnership was that any interest payments actually made on the Partnership Note would be retained by Aeon and used to support services and operations benefiting the Facility, particularly Resident Connections, Aeon’s in-house support service team. According to an Aeon representative, Resident Connections provides community engagement and eviction prevention services to residents of the Facility, as well as connections to community services. In addition to the support for Resident Connections, interest payments would also potentially be used to support the general operations of the Facility, such as maintenance and repair and additional staffing needs. Aeon discussed this use of the hypothetical interest payments with Authority staff and legal counsel at the time the Facility was conveyed. Aeon’s legal counsel recently approached Authority staff and Kennedy & Graven with a request to inform the Authority that as currently drafted, paragraph 7 of the Assignment provides that if and to the extent that Aeon receives payments of interest under the Partnership Note, those payments will be held in trust for the benefit of the Authority, and will be paid over to the Authority to be applied to the principal payable under the Aeon Note. Given the stated intent of Aeon to retain any interest payments from the Partnership Note for the uses outlined above, counsel to Aeon believes that this provision was the result of an error in drafting of the Assignment. Counsel to Aeon has requested that the Authority agree to enter into an Amended and Restated Collateral Assignment of Note and Mortgage, which would modify the language of paragraph 7 so that Aeon would be allowed to collect interest payments under the Partnership Note as originally contemplated. The proposed Amended and Restated Collateral Assignment, with the proposed changes highlighted in blue, is attached as Exhibit A to this memo. The Board of Commissioners will be requested to adopt a resolution approving the Amended and Restated Collateral Assignment at its meeting on February 6, 2017. If you have any questions about this matter, please do not hesitate to contact me at the number above. Exhibit A AMENDED AND RESTATED COLLATERAL ASSIGNMENT OF NOTE and MORTGAGE THIS AMENDED AND RESTATED COLLATERAL ASSIGNMENT OF NOTE AND MORTGAGE (the "Assignment") is signed on this ____ day of February 2017, but made effective as of the 24th day of September, 2015, by AEON, a Minnesota nonprofit corporation (the "Borrower"), in favor of the HOUSING AND REDEVELOPMENT AUTHORITY OF COLUMBIA HEIGHTS, MINNESOTA, a public body corporate and politic and political subdivision of the State of Minnesota (the "HRA"). WHEREAS, Borrower has provided to HRA a certain Promissory Note dated as of September 24, 2015, pursuant to which Borrower promises to pay to HRA the principal sum of $6,585,000 in accordance with the terms thereof (the “Note”); and WHEREAS, to secure payment and performance of the obligations of Borrower under the Note, HRA has required that Borrower execute and deliver to HRA this Assignment to collaterally assign to HRA Borrower's right, title and interest in and to (a) that certain Promissory Note dated September 24, 2015, made by Parkview Limited Partnership, a Minnesota limited partnership ("Partnership") to the order of Borrower in the original principal amount of $6,585,000 (as it may be amended, restated, replaced or otherwise modified from time to time, the "Partnership Note"); and (b) that certain Mortgage, dated September 24, 2015, executed and delivered by Partnership and filed for record on or about the date hereof, with Anoka County Office of Registrar of Titles and Office of the Recorder, securing the Partnership Note and covering, among other things, real estate legally described on Exhibit A attached hereto and hereby made a part hereof (as it may be amended, restated, replaced or otherwise modified from time to time, the "Partnership Mortgage"). NOW THEREFORE, in consideration of the foregoing, for and in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower agrees as follows: Collateral Assignment. Borrower hereby collaterally assigns and transfers to HRA, and grants a security interest in, all right, title and interest of Borrower in and to the Partnership Note and the Partnership Mortgage (collectively, the "Pledged Documents"), including all cash, proceeds, interest or other income or property, accrued and hereafter accruing, received, receivable or otherwise distributed in respect of, in exchange for or upon the sale or other disposition of the Pledged Documents, for the purpose of securing the Note. Performance of Obligations. Borrower agrees to promptly, faithfully and diligently observe, perform and discharge each and every term, condition, obligation, covenant and agreement which Borrower is now, or hereafter becomes, liable to observe, perform or discharge under this Assignment and the Pledged Documents; to give prompt written notice to HRA of any notice of default received by Borrower under the Pledged Documents on the part of any party thereunder, together with an accurate and complete copy of any such notice; and, at the sole cost and expense of Borrower, to enforce or secure the performance of each and every obligation, covenant, condition and agreement to be performed by Partnership under any of the Pledged Documents. Actions Arising out of the Pledged Documents. Borrower shall, at Borrower's sole cost and expense, appear in and defend any dispute, action or proceeding against Borrower or HRA arising under, growing out of or in any manner connected with or affecting any of the Pledged Documents, or the obligations, duties or liabilities of Borrower or Partnership thereunder, and shall pay all costs and expenses of HRA, including attorneys’ fees (prior to trial, at trial and on appeal) in connection with any such dispute, action or proceeding in which HRA may appear or with respect to which it may otherwise incur costs or expenses, whether or not HRA prevails therein. HRA’s Right to Perform. Should Borrower fail to make any payment or to do any act as herein provided, then HRA may, but without obligation to do so, without notice or demand to or upon Borrower, and without releasing Borrower from any obligation hereof, make or do the same in such manner and to such extent as HRA may deem necessary or desirable to protect the security hereof, including specifically, without limiting its general powers, appearing in and defending any action or proceeding purporting to affect the security hereof or the rights or powers of HRA, and observing, performing and discharging all or any of the obligations, covenants and agreements of Borrower in the Pledged Documents. In exercising any such powers, HRA may pay its costs and expenses, employ counsel and incur and pay reasonable attorneys' fees (prior to trial, at trial and on appeal). Borrower hereby grants to HRA an irrevocable power of attorney, coupled with an interest, to perform all of the acts and things provided for in this section as Borrower's agent and in Borrower's name. No Modification Without Consent. Each of Borrower and Partnership agrees not to modify, amend, extend, waive, subordinate or in any manner alter the terms of either of the Partnership Note or the Partnership Mortgage, or reduce the indebtedness secured thereby; not to waive, excuse or condone any default by the other party under either of the Partnership Note or the Partnership Mortgage; and not to in any manner release or discharge the other party of or from any obligation, covenant, condition or agreement by Partnership or Borrower, as applicable, to be performed under either of the Partnership Note or the Partnership Mortgage. Any attempt on the part of Borrower or Partnership to exercise any such right, power or authority without the prior written consent of HRA shall be a nullity and shall be a default hereunder. Borrower's Representations, Warranties and Covenants. Borrower represents and warrants to HRA that: Borrower has good right and lawful authority to grant, transfer, set over and assign the Pledged Documents to HRA. This Assignment has been duly authorized, executed and delivered by and on behalf of Borrower so as to constitute the valid and binding obligations of Borrower, enforceable in accordance with the terms hereof. Borrower has not performed or committed any act or executed any instrument, and is not bound by any law, statute, regulation, order, pledge agreement, indenture, contract or agreement, which might prevent HRA from operating under any of the terms and conditions hereof, or which would limit HRA in such operation. Borrower has not executed or agreed to, shall not execute or agree to, and shall not permit to occur by operation of law any other assignment, alienation, pledge, encumbrance or transfer of any its of right, title or interest in, to or under any of the Pledged Documents. The Pledged Documents are in full force and effect; neither of the Pledged Documents has been amended or modified; and there is no default by Borrower nor by Partnership now existing under any of the Pledged Documents, nor has any event occurred which, with the passage of time and/or the giving of notice, would constitute a default thereunder. Borrower has delivered or will deliver to HRA fully executed originals of the Pledged Documents, and such documents have not been modified, amended or canceled. The Pledged Documents each constitute a valid, genuine and legally enforceable obligation, subject to no defense, set off or counterclaim of Partnership. The Partnership Mortgage has been duly executed and delivered, and will be recorded or otherwise properly perfected in Anoka County, Minnesota. The outstanding principal balance on the Partnership Note as of the date hereof of is $6,585,000. Present Assignment. Subject to the terms and conditions set forth herein, this is a perfected, absolute and present assignment by Borrower to HRA of the Pledged Documents. During the pendency and effectiveness of this Assignment: (a) Borrower is permitted to collect and receive, as and when due and payable or otherwise, all payments of interest due under the Partnership Note; and (b) Borrower shall have no authority to collect or receive, as and when due and payable or otherwise, any payments of principal, interest or other sums due under the Partnership Note other than payments of interest, and any and all such payments of principal or other sums (other than interest) or other sums if and to the extent so received by Borrower shall be held in trust by Borrower for the benefit of HRA, and shall be promptly paid over and delivered by Borrower to HRA to be applied to the secured obligations. At any time after the occurrence and during the continuance of an Event of Default (as defined below), Borrower hereby authorizes and directs Partnership to pay amounts secured by the Partnership Mortgage directly to HRA in an amount up to the amount of the secured obligations. Failure of HRA to collect, or discontinuance by HRA from collecting, at any time, and from time to time, any amounts secured by the Partnership Mortgage shall not in any manner affect the rights of HRA to thereafter collect the same. Borrower hereby authorizes HRA to file UCC financing statements and amendments to financing statements with respect to the Pledged Documents consistent with the terms of this Agreement in such form and substance as HRA, in its sole discretion, may determine. Events of Default. The occurrence of one or more of the following shall constitute an "Event of Default" within the meaning of this Assignment, provided, however, that such event shall not be an Event of Default unless and until written notice of such failure shall have been given to Borrower and such failure shall not have been cured before expiration of (i) the period of thirty (30) days next following the giving of such notice or (ii) if cure cannot reasonably be effected within such thirty (30) day period, then such longer period as shall be reasonably needed to cure such event if Borrower timely commences cure and diligently prosecutes cure to completion: Borrower shall fail to abide or observe any term or condition of this Assignment, or any representation made by Borrower was materially false when made; an event of default shall occur under the Note, or any of the other related documents (together with the Note, the “HRA Loan Documents”), or Borrower shall otherwise fail to abide by the terms and conditions of any of the HRA Loan Documents; a petition commencing a proceeding under the United States Bankruptcy Code or any similar state law is filed by or against Borrower; or a receiver, custodian, assignee, or trustee is appointed for Borrower or any of their respective assets; or any third party seizes or pursues repossession, foreclosure, replevin or liquidation of any property of Borrower. HRA Rights Upon Default. Upon or at any time after the occurrence of any Event of Default under this Assignment, HRA may, at its option, but without obligation to do so, and without notice to or consent of Borrower, sell, assign or transfer to itself or any third party purchaser all of Borrower's right, title and interest in, to and under the Pledged Documents subject to the terms and conditions hereof; make, execute, enforce, modify, alter, cancel, release or satisfy the Partnership Mortgage, in its own name or in the name of Borrower; and/or pursue all other remedies available at law or in equity, including all remedies available under the Uniform Commercial Code. Borrower shall in every way facilitate the transfer of its interests in, to and under the Partnership Mortgage and the proceeds of the Partnership Note, including without limitation executing and recording any and all additional instruments necessary to evidence the transfer of the Pledged Documents. Borrower hereby grants to HRA an irrevocable power of attorney, coupled with an interest, to perform all of the acts and things provided in this section as Borrower's agent and in Borrower's name. If any Event of Default shall occur, then HRA may, at its option, declare the secured obligations due and payable as set forth in the Note and other HRA Loan Documents, and, in addition to making available to HRA any remedies for default herein set forth, such Event of Default shall, at HRA's option, constitute and be deemed to be an event of default under the Note and other HRA Loan Documents, entitling HRA to every and all rights and remedies therein contained, in addition to those rights and remedies herein set forth, without regard to the adequacy of security for the indebtedness secured hereby, the commission of waste or the insolvency of Borrower. Release Upon Payment in Full. Upon the payment in full of the Note, this Assignment shall become and be void and of no further effect and, upon request of Borrower, HRA shall execute a release hereof or an assignment to Borrower of the Pledged Documents. Construction According to Applicable Law. All rights, powers and remedies provided herein may be exercised only to the extent that the exercise thereof does not violate any applicable law, and they are intended to be limited to the extent necessary so that they will not render this Assignment invalid, unenforceable or not entitled to be recorded, registered or filed under any applicable law. If any term of this Assignment shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the other terms hereof shall be in no way affected thereby. HRA shall be entitled to all rights and remedies available under this Assignment, under the Note, under the other HRA Loan Documents, at law, in equity or under any statute in existence now and/or at the time of exercise thereof, even though such rights and remedies were not available on the date first above written, and all such rights and remedies may be exercised at any time and from time to time concurrently, separately, successively and in any order of preference, at HRA's sole discretion. Successors and Assigns. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Borrower, Partnership and HRA. Additional Security. HRA shall not be required to resort first to the security of this Assignment or of any of the other HRA Loan Documents before resorting to the security of the other, and HRA may exercise its rights hereunder, under this Assignment and any of the other HRA Loan Documents concurrently or independently and in any order of preference; all rights and remedies of HRA set forth herein, in the Note, any of the other HRA Loan Documents, at law, in equity, under statute and by contract being cumulative. No failure by HRA to avail itself of any of the terms, covenants or conditions of this Assignment for any period of time shall be deemed to constitute a waiver thereof. Notices. Any notice or other communication to any party in connection herewith shall be deemed to have been given on the date the same is deposited in the United States mail, registered or certified, return receipt requested, postage prepaid, or deposited with Federal Express, Airborne or another reputable overnight carrier, addressed to the party to which the notice is to be given at the address specified below, or at such other address as such party shall have specified to the other party hereto in writing and not less than ten (10) days prior to the effective date of the address change: To Borrower: Aeon Attn: Eric Schnell, Chief Operating Officer 901 North Third Street, Suite 150 Minneapolis, MN 55401 With a copy to USBCDC: U.S. Bancorp Community Development Corporation Attn: Director of LIHTC Asset Management 1307 Washington Avenue, Suite 300 St. Louis, Missouri 63103 To HRA: Columbia Heights HRA Attn: Executive Director 590 40th Avenue Northeast Columbia Heights, Minnesota 55421 Governing Law; Waiver of Jury Trial. This Assignment, the rights of the parties hereunder and the interpretation hereof shall be governed by, and construed in accordance with, the laws of the State of Minnesota, in all respects. Any disputes related to this Assignment or any of the other Loan Documents shall be resolved in either Hennepin County, Minnesota or the United States District Court, District of Minnesota. THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY AND ANY RIGHT EACH MAY HAVE TO OBJECT TO PERSONAL JURISDICTION, ASSERT THE DOCTRINE OF FORUM NON CONVENIENS, OR OBJECT TO VENUE ON ANY BASIS WHATSOEVER IN ANY ACTION ARISING FROM OR RELATING TO THIS ASSIGNMENT. Further Assurances. Borrower shall, at the request of HRA, at any time and from time to time following the execution of this Assignment promptly execute and deliver, or cause to be executed and delivered, to HRA all such further documents and instruments and take all such further action as may be reasonably necessary or appropriate to confirm or carry out the provisions and intent of this Assignment. Headings. The headings or captions of the sections set forth herein are for convenience only, are not a part of this Assignment and are not to be considered in interpreting this Assignment. Recitals Incorporated. The recitals to this Assignment are incorporated into and constitute an integral part of this Assignment. IN WITNESS WHEREOF, Borrower and HRA have caused this Amended and Restated Assignment to be duly executed as of the day and year first above written. AEON By Caroline Horton, Chief Financial Officer STATE OF MINNESOTA ) ) SS. COUNTY OF _________ ) The foregoing instrument was acknowledged before me this _____ day of February, 2017, by Caroline Horton, the Chief Financial Officer of Aeon, a Minnesota nonprofit corporation, on behalf of the corporation. Notary Public HOUSING AND REDEVELOPMENT AUTHORITY OF COLUMBIA HEIGHTS, MINNESOTA By Its Chair By Its Executive Director STATE OF MINNESOTA ) ) ss COUNTY OF ANOKA ) On this ____ day of February, 2017, before me, a notary public within and for Anoka County, personally appeared John Murzyn, Jr. and Walter Fehst, to me personally known who by me duly sworn, did say that they are the Chair and Executive Director of the Housing and Redevelopment Authority of Columbia Heights, Minnesota, a public body corporate and politic under the laws of the State of Minnesota (the “Authority”) named in the foregoing instrument; that said instrument was signed on behalf of said Authority; and said John Murzyn, Jr. and Walter Fehst acknowledged said instrument to be the free act and deed of said Authority. ACKNOWLEDGMENT OF PARKVIEW LIMITED PARTNERSHIP Partnership hereby acknowledges, agrees with and consents to the foregoing Assignment and agrees to comply with the covenants of the Partnership set forth in Section 5 of the Assignment. Partnership represents and warrants to the Borrower and HRA that (a) this Assignment has been duly authorized, executed and delivered by and on behalf of Partnership so as to constitute the valid and binding agreement of the Partnership, enforceable in accordance with the terms hereof; (b) the Pledged Documents each constitute a valid, genuine and legally enforceable obligation of the Partnership, enforceable in accordance with its applicable terms; none of the Pledged Documents has been amended or modified; and, to its knowledge, there is no default by Borrower or by Partnership now existing under either of the Pledged Documents; and (c) the outstanding principal balance on the Partnership Note as of the date hereof of is $6,585,000. Partnership hereby acknowledges that HRA is relying upon the foregoing in connection with HRA entering into certain HRA Loan Documents with Borrower. Signed on February ____, 2017 but made effective as of September 24, 2015. PARTNERSHIP: PARKVIEW LIMITED PARTNERSHIP, a Minnesota limited partnership By: Aeon, a Minnesota nonprofit corporation Its: General Partner By: Caroline Horton, Chief Financial Officer EXHIBIT A Legal Description Tract A: That part of the South 1/2 of Lot 13, lying Northwesterly of the following line: Beginning at the Northeast corner of the South 1/2 of Lot 13; thence Southwesterly to a point on the South line of said Lot 13, said point being 2 feet Easterly of the Southwest Corner of Lot 13; the South 241 feet of Lot 14; then south 1/2 of Lot 15; Lot 39 except the West 30 feet thereof; Lots 40, 41, 42 and 43 and the West 1/2 of Lot 44, all in Block 5 Reservoir Hills, Columbia Heights, Anoka County, Minnesota (Abstract) Tract B: The East 40 feet of the South 1/2 of Lot 16, Block 5, Reservoir Hills, Columbia Heights, Anoka County, Minnesota. (Torrens) HRA Minutes Page 10 February 13, 2017 Questions from members: Commissioner Williams questioned whether or not the HRA will still receive payment following the term of the loan. Attorney Ingram stated that HRA will receive payment from the loan, following the thirty-year term. Ingram indicated that Aeon would likely refinance at that time, which would allow repayment. Commissioner Buesgens questioned whether or not the loan bears interest. Attorney Ingram clarified that it does not. Commissioner Williams questioned whether or not the City/HRA has received any funds to date for the sale of the property. Executive Director Fehst stated the HRA did retain fund balances from the “South” building, which total approximately $900,000. Deputy Director Hogeboom noted that when the note matures in 30 years, HUD will have to also be repaid for the portion that is allocated to the “North” building. Motion by Williams, seconded by Schmitt, to waive the reading of Resolution 2017-02, there being ample copies available to the public. All ayes. MOTION PASSED. Motion by Williams, seconded by Schmitt, to adopt Resolution 2017-02, amending and restating the collateral assignment of note and mortgage in connection with the terms of the conveyance of Parkview Villa. All ayes. MOTION PASSED. HRA RESOLUTION NO. 2017-02 RESOLUTION APPROVING AN AMENDED AND RESTATED COLLATERAL ASSIGNMENT OF NOTE AND MORTGAGE IN CONNECTION WITH THE TERMS OF CONVEYANCE OF PARKVIEW VILLA BE IT RESOLVED BY the Board of Commissioners ("Board") of the Housing and Redevelopment Authority of Columbia Heights, Minnesota (the "Authority") as follows: HRA Minutes Page 11 February 13, 2017 Recitals. 1.01. The Authority previously owned and operated a public housing facility known as Parkview Villa (the “Facility”) within the City of Columbia Heights (the “City”). 1.02. The Authority and Aeon (the “Purchaser”) executed a certain Amended and Restated Purchase and Development Contract, dated as of July 28, 2015 (the “Agreement”), pursuant to which the Authority conveyed the Facility to the Purchaser and received a Promissory Note for the payment of the purchase price (the “Note”), secured by the Collateral Assignment of Note and Mortgage dated as of September 24, 2015 (the “Assignment”), which pledges the Inclusive Promissory Note (the “Partnership Note”) from Parkview Limited Partnership (the “Partnership”) to the Purchaser, as well as a mortgage from the Partnership to the Purchaser. 1.03. Although the intent of the parties was to allow any interest payments under the Partnership Note to be retained by the Purchaser and used to pay operating and other costs of the Facility, the terms of the Assignment incorrectly provide that any interest due and payable under the Partnership Note shall be held in trust by the Purchaser for the benefit of the Authority. 1.04. The Purchaser has requested that the Authority agree to an Amended and Restated Collateral Assignment of Note and Mortgage (the “Amended Assignment”), which clarifies that interest payments under the Partnership Note may be retained by the Purchaser and applied to operating costs of the Facility. The HRA’s legal counsel has reviewed the Amended Assignment in the form presented to the HRA and on file with the HRA’s Executive Director. Section 2. Amended Assignment Approved. 2.01. The Amended Assignment is hereby approved. 2.02. The Chair and Executive Director are hereby authorized to execute on behalf of the Authority the Amended Assignment in substantially the form presented to the Board, subject to changes that do not materially alter the substance of the transaction and that are approved by the Chair and Executive Director, provided that execution of the Amended Assignment by such officials shall be conclusive evidence of approval. Approved by the Board of Commissioners of the Housing and Redevelopment Authority for Columbia Heights, Minnesota this 13th day of February, 2017. _______________________________ Chair ATTEST: ________________________________ Secretary HRA Minutes Page 12 February 13, 2017 The meeting was adjourned at 8:30 pm. Respectfully submitted, Joseph Hogeboom Acting Secretary