042808 EDA
CITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
EDA Minutes April 28, 2008
Regular Meeting City Hall
CALL TO ORDER
President Opem called the meeting of the Economic Development Authority
to order at 8:55 p.m.
ROLL CALL
Present: Martin Opem Sr., President
Andy Hoffe, Commissioner
Karen Nolte, Commissioner
Daniel Stauner, Commissioner
Staff Present: Kirk McDonald, City Manager
Shari French, Director of Parks & Recreation
Curtis Jacobsen, Director of Community Development
Guy Johnson, Director of Public Works
Valerie Leone, City Clerk
Steve Sondrall, City Attorney
Eric Weiss, Community Development Assistant
APPROVE MINUTES
Motion was made by Commissioner Nolte, seconded by Commissioner Hoffe,
to approve the Regular Meeting Minutes of March 24, 2008. All present
voted in favor. Motion carried.
IMP. PROJECT 836
President Opem introduced for discussion Item 4, Resolutions associated with
Item 4
the acquisition and financing mechanisms available to the Council/EDA for
the acquisition of the Bass Lake Road Apartment complex (improvement
project no. 836).
Mr. Kirk McDonald, city manager, requested the EDA to consider adopting
four resolutions related to the acquisition and financing options for the Bass
Lake Road Apartment complex. He stated Jim Casserly of Krass Monroe is
available if the EDA has questions.
Mr. Jim Casserly, Krass Monroe, stated the adoption of the various resolutions
will preserve the city’s options on financing mechanisms. He stated the
interest rate is set by statute but the city can make adjustments annually.
Commissioner Hoffe asked for confirmation that the city has a three-year
window to take action. Mr. Casserly stated if the EDA adopts the resolutions,
the EDA will have the option to include the parcels in a tax increment district
within three years from the date of building demolition.
President Opem expressed support for the resolutions in order to retain all
viable options.
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EDA RESOLUTION
Commissioner Nolte introduced the following resolution and moved its
08-04 adoption: “RESOLUTION ACCEPTING ASSIGNMENT OF THE BASS
Item 4 LAKE ROAD APARTMENT COMPLEX PURCHASE AGREEMENT FROM
THE CITY OF NEW HOPE.” The motion for the adoption of the foregoing
resolution was seconded by Commissioner Hoffe, and upon vote being taken
thereon, the following voted in favor thereof: Opem, Hoffe, Nolte, Stauner;
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.
EDA RESOLUTION
Commissioner Nolte introduced the following resolution and moved its
08-05 adoption: “RESOLUTION DETERMINING THAT FIVE PARCELS OF
Item 4LAND ARE OCCUPIED BY STRUCTURALLY SUBSTANDARD
BUILDINGS.” The motion for the adoption of the foregoing resolution was
seconded by Commissioner Hoffe, and upon vote being taken thereon, the
following voted in favor thereof: Opem, Hoffe, Nolte, Stauner; 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.
EDA RESOLUTION
Commissioner Nolte introduced the following resolution and moved its
08-06 adoption: “RESOLUTION DECLARING THE OFFICIAL INTENT OF THE
Item 4NEW HOPE ECONOMIC DEVELOPMENT AUTHORITY TO REIMBURSE
CERTAIN EXPENDITURES FROM THE PROCEEDS OF BONDS TO BE
ISSUED BY THE ECONOMIC DEVELOPMENT AUTHORITY.” The
motion for the adoption of the foregoing resolution was seconded by
Commissioner Hoffe, and upon vote being taken thereon, the following voted
in favor thereof: Opem, Hoffe, Nolte, Stauner; 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.
EDA RESOLUTION
Commissioner Nolte introduced the following resolution and moved its
08-07 adoption: “RESOLUTION APPROVING INTERFUND LOANS
Item 4ASSOCIATED WITH THE PROPOSED ACQUISITION AND
REDEVELOPMENT OF THE BASS LAKE ROAD APARTMENTS
REDEVELOPMENT PROJECT.” The motion for the adoption of the
foregoing resolution was seconded by Commissioner Hoffe, and upon vote
being taken thereon, the following voted in favor thereof: Opem, Hoffe, Nolte,
Stauner; 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 842
President Opem introduced for discussion Item 5, Brief update on the city
Item 5
center project (improvement project no. 842).
Mr. Curtis Jacobsen, director of community development, reported on the
milestones that have been met to date:
February 15 – TIF District Qualification Summary
February 25 – Staff blight analysis Phase 1A
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March 7 – Staff blight analysis Phase 1B
March 24 – TIF Revenue Analysis for Phase 1A
April 14 – LHB and inspection staff met regarding probability
analysis
April 21 – TIF Revenue Analysis for Phase 1B
Multiple meetings – between developer and school district and other
affected parties regarding the costs to acquire and relocate their
operations.
Mr. Jacobsen explained that staff would provide the EDA with a more
detailed analysis near the end of May.
Mr. Mark Schoening, Ryan Companies, was recognized. He reported that the
interim agreement has been a useful tool and they have met all requirements
so far. He indicated he is cautiously optimistic regarding the project and has
been encouraged by the participation of several parties. Mr. Schoening
concurred with Mr. Jacobsen that a more thorough update would be
presented to the EDA at the May 27 meeting. He indicated at that time he
should be able to make a recommendation on whether to proceed with the
next step.
Mr. McDonald informed the EDA that staff would attempt to provide
information to the EDA as early as possible.
ADJOURNMENT
Motion was made by Commissioner Nolte, seconded by Commissioner
Stauner, to adjourn the meeting. All present voted in favor. Motion carried.
The New Hope EDA adjourned at 9:10 p.m.
Respectfully submitted,
Valerie Leone, City Clerk
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