Ed111003.docCITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
EDA Minutes November 10, 2003
Regular Meeting City Hall
CALL TO ORDER
President Enck called the meeting of the Economic Development Authority to order
at 9:01 p.m.
ROLL CALL
Present: W. Peter Enck, President
Sharon Cassen, Commissioner
Don Collier, Commissioner
Mary Gwin-Lenth, Commissioner
Steve Sommer, Commissioner
APPROVE MINUTES
Motion was made by Commissioner Collier, seconded by Commissioner Gwin-
to approve the Regular Meeting Minutes of October 27, 2003
Lenth, . All present
voted in favor. Motion carried.
IMP. PROJECT 665 President Enck introduced for discussion Item 4, Resolution calling for public
nd
Item 4 hearing to approve sale of city owned property at 7500-7528 42 Avenue North to
JCS Development Inc. and Frey Development Inc. (improvement project no. 665).
Mr. Ken Doresky, Community Development Specialist, stated adoption of the
resolution will establish a public hearing to be held November 24 for the sale of the
city-owned property. He stated purchase agreements have been obtained from both
Culver’s Restaurant and Frey Development for the office condominiums.
EDA RESOLUTION Commissioner Collier introduced the following resolution and moved its adoption
03-09 “RESOLUTION CALLING FOR PUBLIC HEARING TO APPROVE SALE
ND
Item 4 OF CITY OWNED PROPERTY AT 7500-7528 42 AVENUE NORTH TO
JCS DEVELOPMENT INC. AND FREY DEVELOPMENT INC.
(IMPROVEMENT PROJECT NO. 665).”
The motion for the adoption of the
foregoing resolution was seconded by Commissioner Gwin-Lenth, and upon vote
being taken thereon, the following voted in favor thereof: Enck, Cassen, Collier,
Gwin-Lenth, Sommer; and the following voted against the same: None; Abstained:
None; Absent: None; whereupon the resolution was declared duly passed and
adopted, signed by the president which was attested to by the executive director.
IMP. PROJECT 733 President Enck introduced for discussion Item 5, Update on potential redevelopment
Item 5 of Frank’s Nursery site at 5620 Winnetka Avenue North and motion authorizing tax
increment financing analysis (improvement project no. 733).
Mr. Kirk McDonald, Director of Community Development, stated the developer has
submitted the appropriate fees to the city to cover the cost of the tax increment
financing (TIF) analysis of the proposed project. Staff recommends that the study be
completed by Krass Monroe, the city’s redevelopment financial consultant.
The EDA expressed support for the TIF analysis.
Mr. McDonald also updated the EDA on other matters relating to the site. He stated
Frank’s Nursery is interested in relocating to the vacant Lyndale Garden site, and
staff has provided a letter authorizing Frank’s to utilize the same outdoor storage
areas that were previously approved for Lyndale without securing additional
planning approvals by the city. He also reported that staff has been notified that the
pre-development grant submitted to the Metropolitan Council for this project is
recommended for partial funding. The intent is that the funds would be utilized by
New Hope EDA November 10, 2003
both the city and developer to help “write down” some of the up front development
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costs on this project.
recommended for partial funding. The intent is that the funds would be utilized by
both the city and developer to help “write down” some of the up front development
costs on this project.
Mr. Doug Hoskin, Armory Development II, was recognized. He stated the unit
prices will range from $170,000 to $195,000. He stated a similar development was
built in Richfield and was well received.
Mr. McDonald indicated the special legislation created a project area and this parcel
is included in it. The city can also create separate tax increment districts. He stated
the proposed number of townhomes ranges from 45 to 56.
Mr. Hoskin noted in order to construct an attractive development, the project
requires adequate green space and this may impact the final number of units. He
stated a closing is tentatively planned for late January with ground breaking to occur
in the spring.
MOTION Motion was made by Commissioner Sommer, seconded by Commissioner Cassen,
authorizing the tax increment financing analysis
Item 5 . All present voted in favor.
Motion carried.
to
ADJOURNMENT Motion was made by Commissioner Cassen, seconded by Commissioner Collier,
adjourn the meeting
. All present voted in favor. Motion carried. The New Hope
EDA adjourned at 9:15 p.m.
Respectfully submitted,
Valerie Leone
City Clerk
New Hope EDA November 10, 2003
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