BOOK 2 Page 1639 02/05/07 2:30 P.M. MINUTES OF THE SPECIAL SARASOTA COMMUNITY REDEVELOPMENT AGENCY MEETING OF FEBRUARY 5, 2007 PRESENT: Chair Fredd "Glossie" Atkins, presiding, Vice Chair Danny Bilyeu, Members Lou Ann R. Palmer, Mary Anne Servian and Ken Shelin, Attorney Robert M. Fournier, Secretary Billy E. Robinson, and Interim Executive Director V. Peter Schneider ABSENT: None The meeting of the Community Redevelopment Agency (CRA) was called to order by Chair Atkins at 2:40 p.m. 1. APPROVAL RE: MINUTES OF THE SPECIAL SARASOTA COMMUNITY REDEVELOPMENT AGENCY MEETING OF JANUARY 16, 2007 (AGENDA ITEM CRA-1) Chair Atkins noted CRA consensus to approve the minutes of the Special Sarasota Community Redevelopment Agency meeting of January 16, 2007. 2. STATUS REPORT RE: PROPOSED ACQUISITION OF TWO PROPERTIES IN THE ROSEMARY DISTRICT FOR ATTAINABLE HOUSING DEVELOPMENT (AGENDA ITEM CRA-2) Planning and Redevelopment Director Jane Robinson came before the CRA and gave the Staff presentation concerning the status of the proposed acquisition of two properties in the Rosemary District for attainable housihg development; and stated that the appraisals have been completed; that the property of the Sarasota Military Academy, Inc., 4.85 acres, located at 801 North Orange Avenue is appraised at 3,000,000 and the property of Fourth Street Partners, LLC, and Lemon Avenue II, LLC, 1.17 acres, located at 1542 Fourth Street and 1515 and 1551 Fruitville Road is appraised at $7,175,000; that continued negotiation with the property owners is suggested. Finance Director Gibson Mitchell came before the CRA and stated that the high value of the property is of concern as only $1 million is uncommitted in the Tax Increment Financing (TIF) fund; that the City is committed to building parking facilities and specifically to assist with funding of the Palm Avenue parking garage; that additionally, $1.5 million has been allocated for the wayfinding project; therefore, prioritization of projects is suggested. A motion was made by Member Palmer, seconded by Member Shelin, and carried by a 5-0 vote to direct Staff tp continye to negotiate a purchase price with the property owners of the Sarasota Military Academy, Inc., and Fourth Street Partners, LLC, and Lemon Avenue II, LLC, for the development of attainable nousing. 3. OTHER MATTERS/ADMINISTRATIVE OFFICERS (AGENDA ITEM CRA-3) A. Attorney Fournier gave a status report concerning discussions with the County concerning the proposed expansion of the Community Redevelopment Area into Newtown and stated that, based on the opinion of the City's bond counsel, an Interlocal Agreement with the County may not be required and a resolution adopted by the Sarasota Board of County Commissioners should be sufficient to approve the proposed expansion. Interim Executive Director Schneider stated that the CRA is requested to allow the Administration to discuss the matter further with the County. Chair Atkins noted CRA consensus for the Administration to discuss the matter further with the County and provide a report to the CRA in the near future. 4. ADJOURN Chair Atkins adjourned the meeting at 3:17 p.m. 014 6 FREDD "GLOSSIE" ATKINS, CHAIR ATTEST: 4 2 BILX E BCHINSON.SECRETARY BOOK 2 Page 1640 02/05/07 2:30 P.M.