HomeMy WebLinkAboutHousing & Redevelopment Authority Minutes 04-12-2005MINUTES
PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY
April 12, 2005
PRESENT: Chair Susan Henderson, Commissioner Steve Ludovissie and Commissioner Tim
Bildsoe.
ABSENT: Commissioner Jenny Flansburg and Commissioner Jim Kovach.
STAFF PRESENT: Executive Director Anne Hurlburt, Finance Director Dale Hahn, Housing
Program Manager Jim Barnes and HRA Specialist Tracy Jones.
OTHERS PRESENT: Springsted Incorporated Representative Dave MacGillivray.
1. CALL TO ORDER
Chair Henderson called the Plymouth Housing and Redevelopment Authority meeting to order
on April 12, 2005 at 6:00 PM.
2. CONSENT AGENDA
There were no items placed on the consent agenda, so no action was taken.
3. NEW BUSINESS
A. Approve the Sale of General Obligation Governmental Housing Project Bonds
Housing Program Manager Barnes stated that the HRA had received two competitive bids for the
sale of the $10,650,000 in bonds for the HRA's 96 -unit senior housing project. The first bid,
received from Piper Jaffray & Company (and associates), offered an interest rate of 4.6521%.
The second bid, received from Cronin & Company Incorporated (and associates), offered an
interest rate of 4.6652%.
Springsted Incorporated Representative MacGillivray stated that both of the interest rates were
better then expected. He stated that the lower interest rates were most likely due to the City's
Aaa bond rating and the City's general obligation pledge. Mr. MacGillivray recommended
awarding the sale to Piper Jaffray & Company (and associates), who offered the lower interest
rate of the two bidders.
MOTION by Commissioner Bildsoe, seconded by Commissioner Ludovissie, to approve the sale
of $10,650,000 in General Obligation Governmental Housing Project Bonds for the HRA's 96 -
unit senior housing project to Piper Jaffray & Company (and associates).
Vote. 3 Ayes. Motion approved.
Meeting adjourned at 6:07 PM.
HRA/Minutes/4-12-05