120808 EDA
~
1. Call to order
2. Roll call
CITY OF NEW HOPE
EDA MEETING
City Hall, 4401 Xylon Avenue North
December 8,2008
EDA Meeting will commence upon
adjournment of the City Council Meeting
President Martin Opem Sr.
Commissioner John Elder
Commissioner Andy Hoffe
Commissioner Karen Nolte
Commissioner Daniel Stauner
3. Approval of regular meeting minutes of October 13, 2008
4. Resolutions regarding proposed Tax Increment Financing District No. 08-1 and
Hazardous Substance Subdistrict No. 08-1A (improvement project no. 842)
j. Adjournment
EDA Minutes
Regular Meeting
CALL TO ORDER
ROLL CALL
APPROVE MINUTES
IMP PROJECT 844
Item 4
EDA RESOLUTION
08-12
Item 4
ADJOURNMENT
EDA Meeting
Page 1
CITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
October 13, 2008
City Hall
President Opem called the meeting of the Economic Development Authority
to order at 8:20 p.m.
Present:
Martin Opem Sr., President
John Elder, Commissioner
Andy Hoffe, Commissioner
Karen Nolte, Commissioner
Daniel Stauner, Commissioner
Staff Present:
Kirk McDonald, City Manager
Valerie Leone, City Clerk
Steve Sondrall, City Attorney
Jason Quisberg, City Engineer
Motion was made by Commissioner Stauner, seconded by Commissioner
Hoffe, to approve the Regular Meeting Minutes of August 25, 2008. All
present voted in favor. Motion carried.
President Opem introduced for discussion Item 4, Resolution approving low
interest loan request of BCD Holdings, LLC (improvement project no. 844).
Mr. Kirk McDonald, city manager, indicated the low interest business loan for
BCD Holdings, LLC, will assist with the construction of a Holiday
StationStore at 7180 42nd Avenue North. He stated the loan amount of $60,000
is based on three percent interest for a ten-year term.
Mr. McDonald stated an assessment agreement to pay for storm water costs
related to the redevelopment project will be presented on October 27 as a
separate item.
Commissioner Nolte introduced the following resolution and moved its
adoption: "RESOLUTION APPROVING LOW INTEREST LOAN
REQUEST OF BCD HOLDINGS, LLC (IMPROVEMENT PROJECT NO.
844)." The motion for the adoption of the foregoing resolution was seconded
by Commissioner Elder, and upon vote being taken thereon, the following
voted in favor thereof: Opem, Elder, 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.
Motion was made by Commissioner Nolte, seconded by Commissioner Hoffe,
to adjourn the meeting. All present voted in favor. Motion carried. The New
October 13, 2008
Hope EDA adjourned at 8:24 p.m.
EDA Meeting
Page 2
Respectfully submitted,
~~
Valerie Leone, City Clerk
October 13, 2008
EDA
Request for Action
Orig:ina ting Department
Approved for Agenda
Agenda Section
Community Development
December S, 200S
EDA
Item No.
By: Curtis Jacobsen, Director of CD
Eric Weiss, CD Assistant By:
Kirk McDonald, City Manager
4
Resolutions regard:ing proposed Tax Increment F:inanc:ing District No. OS-1 and Hazardous Substance
Subdistrict No. OS-IA.
Requested Action
The EDA is requested to consider action on the follow:ing items perta:in:ing to the creation of TIF District No.
OS-1 and HSS No. OS-IA:
(i) A Resolution relating to the decertification of parcels from TIF District No. S5-2. These are parcels that
are to be :included:in the new TIF District No. OS-I.
(ii) A Resolution relating to the approval and adoption of TIF District No. OS-I, approval of the
establishment of the District and appropriate changes, and recommendation that the City COUll.cil
create the TIP District.
(iii) A Resolution relating to the approval of the establishment of HSS No. OS-IA and recommendation that
the City Council create the HSS District.
Policy/Past Practice
It is a past practice of the City Council to consider/approve provid:ing f:inancial assistance such as TIF Districts
for redevelopment projects :in the city.
Background
The City COUl1Cil, prior to this EDA meet:ing, shall have held a Public Hearing to consider the creation of TIF
District No. OS-1 and HSS No. OS-IA for the SE Corner of Winnetka and 42nd avenues (City Center Project No.
S42). The City COUl1Cil held Public Hear:ings at its November 24 and December S meetings.
With the EDA's approval of the three attached resolutions, the City Council will consider the approval of its
own related resolutions reo-ard:ino- the creation of the TIF and HSS districts.
Motion by
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Request for Action
Page 2
December 8, 2008
Attachment(s)
. Resolution relating to the decertification of parcels from TIF District No. 85-2
. Resolution modify:ing the restated redevelopment plan and TIF Plans for redevelopment Project No.1
and TIF Districts Nos. 82-1, 85-1, 85-2, 86-1, 02-1, 03-1 (Special Law), 04-1 (Special Law) and 04-2;
creating TIF District No. 08-1, and adopting a TIP Plan relating thereto.
. Resolution modify:ing the restated Redevelopment Plan and TIF Plans for Redevelopment Project No.
1 and TIF Districts Nos. 82-1, 85-1, 85-2, 86-1, 02-1, 03-1 (Special Law), 04-1 (Special Law) and 04-2;
creating HSS No. 08-1A, and adopting a TIF Plan relating hereto.
NEW HOPE ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF HENNEPIN
STATE OF MINNESOTA
RESOLUTION NO.
A RESOLUTION RELATING TO THE DECERTIFICATION OF PARCELS
FROM TAX INCREMENT FINANCING DISTRICT NO. 85-2
WHEREAS, on December 23, 1985, the City of New Hope (the "City") and the
Housing and Redevelopment Authority in and for the City of New Hope (the "HRA")
adopted a Redevelopment Plan, created Redevelopment Project No. 85-2, adopted a
Tax Increment Financing Plan (the "TIF Plan") and created Tax Increment Financing
District No. 85-2 (the 'TIF District"). The Redevelopment Plan, Redevelopment Project
No. 85-2, TIF Plan and TIF District were modified on June 22, 1987 to reflect increased
geographic area, increased project costs and increased bonding authority and were
subsequently transferred from the HRA to the New Hope Economic Development
Authority (the "Authority") on August 10, 1989.
WHEREAS, on July 25, 1994 the Redevelopment Plan was included in an
amendment called the Master Modification to the Redevelopment Plans and the Tax
Increment Financing Plans (the "Master Modification"). This Master Modification
combined the area within Redevelopment Project No. 85-2 with the areas of the
Authority's other redevelopment projects.
WHEREAS, on December 8, 2003 the Redevelopment Plan (as included in the
Master Modification) was restated, the Master Modification (including Redevelopment
Project No. 85-2) was redesignated as Redevelopment Project No.1.
WHEREAS, the TIF District was originally created as a redevelopment district
with a termination date of December, 2012.
WHEREAS, the TIF District is located within Redevelopment Project No.1.
WHEREAS, it has been proposed that the parcels described on Exhibit A be
decertified from the TIF District.
NOW, THEREFORE, BE IT RESOLVED, that the Commissioners have
determined that it is in the best interests of the Authority and the City of New Hope (the
"City") to decertify at this time the parcels described on Exhibit A.
NOW, THEREFORE, BE IT FURTHER RESOLVED that the Authority shall
forward its recommendation for decertification of the parcels described on Exhibit A to
the City Council of the City for review and approval.
NOW, THEREFORE, BE IT FURTHER RESOLVED that upon the approval and
adoption of this Resolution the Authority shall cause said Resolution to be filed with
Hennepin County, the Department of Revenue and the Office of the State Auditor.
Adopted by the Commissioners of the Authority this _ day of
,2008.
YES:
NO:
ABSENT:
President
ATTEST:
Executive Director
CERTIFICATION
I, , Executive Director of the New Hope
Economic Development Authority, County of Hennepin, State of Minnesota, do hereby
certify that the foregoing is a true and correct copy of Resolution No. adopted
by the Authority on the day of I 2008.
Executive Director
KM: 4822-9988-6339, V. 1
KM: 4810-7560-8323, v. 1
EXHIBIT A
PARCEL TAX IDENTIFICATION NUMBERS
17-118-21-23-0002
17-118-21-23-0018
17-118-21-23-0001
17-118-21-23-0017
17-118-21-23-0011
NEW HOPE ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF HENNEPIN
STATE OF MINNESOTA
RESOLUTION NO.
A RESOLUTION MODIFYING THE RESTATED REDEVELOPMENT PLAN AND
TAX INCREMENT FINANCING PLANS FOR REDEVELOPMENT PROJECT NO.1
AND TAX INCREMENT FINANCING DISTRICTS NOS. 82-1, 85-1, 85-2, 86-1, 02-
1, 03-1(SPECIAL LAW), 04-1(SPECIAL LAW) AND 04-2; CREATING TAX
INCREMENT FINANCING DISTRICT NO. 08-1, AND ADOPTING A TAX
INCREMENT FINANCING PLAN RELATING THERETO.
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of
the New Hope Economic Development Authority (the "EDN'), as follows:
Section 1. Recitals.
1.01 . It has been proposed that the EDA approve and adopt the proposed
modifications to the Restated Redevelopment Plan (the "Plan") for Redevelopment
Project No. 1 (the "Project Area") reflecting increased project costs and increased
bonding authority within the Project Area, pursuant to and in accordance with
Minnesota Statutes, Sections 469.001 to 469.047, 469.124 to 469.134 and 469.090
to 469.108, inclusive, as amended and supplemented from time to time.
1 .02. It has been further proposed that the EDA approve and adopt the
proposed modifications to the Tax Increment Financing Plans (the "Existing TIF
Plans") for Tax Increment Financing Districts Nos. 82-1, 85-1, 85-2, 86-1, 02-1, 03-
1 (Special Law), 04-1 (Special Law) and 04-2 (the "Existing TIF Districts") reflecting
increased project costs and increased bonding authority within the Project Area,
pursuant to and in accordance with Minnesota Statutes, Sections 469.174 to
469.1799 and 469.090 to 469.108, as amended and supplemented from time to
time.
1 .03. It has been further proposed that the EDA approve the creation of
proposed Tax Increment Financing District No. 08-1 (the "Proposed TIF District")
within the Project Area and approve and adopt the proposed Tax Increment
Financing Plan (the "Proposed TIF Plan") relating thereto, pursuant to and in
accordance with Minnesota Statutes, Sections 469.174 to 469.1799 and 469.090 to
469.108 inclusive, as amended and supplemented from time to time.
1.04. The EDA has caused to be prepared and has investigated the facts
with respect thereto a modified Plan for the Project Area and modified Existing TIF
Plans for the Existing TIF Districts reflecting increased project costs and increased
bonding authority within the Project Area, and Proposed TIF Plan for the Proposed
TIF District defining more precisely the property to be included, the public costs to
be incurred and other matters relating thereto.
1.05. The EDA has performed all actions required by law to be performed
prior to the approval and adoption of the modifications to the Plan and Existing TIF
Plans and the approval and adoption of the Proposed TIF Plan.
1.06. The EDA hereby determines that it is necessary and in the best
interests of the City and the EDA at this time to approve and adopt the modifications
to the Plan and Existing TIF Plans, to create the Proposed TIF District and to
approve and adopt the Proposed TIF Plan relating thereto.
Section 2. Findinos.
2.01. The EDA hereby finds that the assistance to be provided through the
adoption and implementation of the modified Plans, modified Existing TIF Plans and
Proposed TIF Plan (collectively the "Plans") is necessary to assure the development
and redevelopment of the Project Area.
2.02. The EDA hereby finds that the Plans conform to the general plan for the
development and redevelopment of the City as a whole.
2.03. The EDA hereby finds that the Plans afford maximum opportunity
consistent with the sound needs of the City as a whole for the development and
redevelopment of the Project Area by private enterprise and it is contemplated that
the development and redevelopment thereof will be carried out pursuant to
redevelopment contracts with private developers.
Section 3. Approvals and Adoptions.
3.01. The modifications to the Plan reflecting increased project costs and
increased bonding authority within the Project Area are hereby approved and
adopted by the Commissioners of the EDA and are forwarded to the New Hope City
Council for public hearing, review and approval.
3.02. The modifications to the Existing TIF Plans reflecting increased project
costs and increased bonding authority within the Project Area are hereby approved
and adopted by the Commissioners of the EDA and are forwarded to the New Hope
City Council for public hearing, review and approval.
3.03. The creation of the Proposed TIF District within the Project Area and
the adoption of the Proposed TIF Plan relating thereto. are hereby approved and
adopted by the Commissioners of the EDA and are forwarded to the New Hope City
Council for public hearing, review and approval.
2
Section 4. Filinq of Plans.
4.01. Upon approval and adoption of the Plans, the EDA shall cause said
Plans to be filed with the Minnesota Department of Revenue.
Adopted by the Commissioners of the EDA this
day of
,2008.
YES:
NO:
ABSENT:
President
ATTEST:
Executive Director
CERTIFICATION
I, , Executive Director of the New Hope
Economic Development Authority, County of Hennepin, State of Minnesota, do
hereby certify that the foregoing is a true and correct copy of Resolution
No. adopted by the EDA on the day of
2008.
Executive Director,
KM: 4838-0537-7027, v. 1
3
NEW HOPE ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF HENNEPIN
STATE OF MINNESOTA
RESOLUTION NO.
A RESOLUTION MODIFYING THE RESTATED REDEVELOPMENT PLAN AND
TAX INCREMENT FINANCING PLANS FOR REDEVELOPMENT PROJECT NO.1
AND TAX INCREMENT FINANCING DISTRICTS NOS. 82-1, 85-1, 85-2, 86-1, 02-
1, 03-1(SPECIAL LAW), 04-1(SPECIAL LAW) AND 04-2; CREATING
HAZARDOUS SUSBST ANCE SUBDISTRICT NO. 08-1 A, AND ADOPTING A TAX
INCREMENT FINANCING PLAN RELATING THERETO.
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of
the New Hope Economic Development Authority (the "EDA"), as follows:
Section 1. Recitals.
1.01. It has been proposed that the EDA approve and adopt the proposed
modifications to the Restated Redevelopment Plan (the "Plan") for Redevelopment
Project No. 1 (the "Project Area") reflecting increased project costs and increased
bonding authority within the Project Area, pursuant to and in accordance with
Minnesota Statutes, Sections 469.001 to 469.047, 469.124 to 469.134 and 469.090
to 469.108, inclusive, as amended and supplemented from time to time.
1.02. It has been further proposed that the EDA approve and adopt the
proposed modifications to the Tax Increment Financing Plans (the "Existing TIF
Plans") for Tax Increment Financing Districts Nos. 82-1, 85-1, 85-2, 86-1, 02-1, 03-
1 (Special Law), 04-1 (Special Law) and 04-2 (the "Existing TIF Districts") reflecting
increased project costs and increased bonding authority within the Project Area,
pursuant to and in accordance with Minnesota Statutes, Sections 469.174 to
469.1799 and 469.090 to 469.108, inclusive, as amended and supplemented from
time to time.
1.03. It has been further proposed that the EDA approve the creation of
proposed Hazardous Substance Subdistrict No. 08-1A (the "Proposed HSS") within
the Project Area and approve and adopt the proposed Tax Increment Financing Plan
(the "Proposed TIF Plan") relating thereto, pursuant to and in accordance with
Minnesota Statutes, Sections 469.174 to 469.1799 and 469.090 to 469.108
inclusive, as amended and supplemented from time to time.
1.04. The EDA has caused to be prepared and has investigated the facts
with respect thereto a modified Plan for the Project Area and modified Existing T1F
Plans for the Existing TIF Districts reflecting increased project costs and increased
bonding authority within the Project Area, and Proposed TIF Plan for the Proposed
HSS defining more precisely the property to be included, the public costs to be
incurred and other matters relating thereto.
1.05. The EDA has performed all actions required by law to be performed
prior to the approval and adoption of the modifications to the Plan and Existing TIF
Plans and the approval and adoption of the Proposed TIF Plan.
1.06. The EDA hereby determines that it is necessary and in the best
interests of the City and the EDA at this time to approve and adopt the modifications
to the Plan and Existing TIF Plans, to create the Proposed HSS and to approve and
adopt the Proposed TIF Plan relating thereto.
Section 2. Findinqs.
2.01. 'The EDA hereby finds that the assistance to be provided through the
adoption and implementation of the modified Plans, modified Existing TIF Plans and
Proposed TIF Plan (collectively the "Plans") is necessary to assure the development
and redevelopment of the Project Area.
2.02. The EDA hereby finds that the Plans conform to the general plan for the
development and redevelopment of the City as a whole.
2.03. The EDA hereby finds that the Plans afford maximum opportunity
consistent with the sound needs of the City as a whole for the development and
redevelopment of the Project Area by private enterprise and it is contemplat~d that
the development and redevelopment thereof will be carried out pursuant to
redevelopment contracts with private developers.
Section 3. Approvals and Adoptions.
3.01. The modifications to the Plan reflecting increased project costs and
increased bonding authority within the Project Area are hereby approved and
adopted by the Commissioners of the EDA and are forwarded to the New Hope City
Council for public hearing, review and approval.
3.02. The modifications to the Existing TIF Plans reflecting increased project
costs and increased bonding authority within the Project Area are hereby approved
and adopted by the Commissioners of the EDA and are forwarded to the New Hope
City Council for public hearing, review and approval.
3.03. The creation of the Proposed HSS within the Project Area and the
adoption of the Proposed TIF Plan relating thereto are hereby approved and
adopted by the Commissioners of the EDA and are forwarded to the New Hope City
Council for public hearing, review and approval.
2
Section 4. Filinq of Plans.
4.01. Upon approval and adoption of the Plans, the EDA shall cause said
Plans to be filed with the Minnesota Department of Revenue.
Adopted by the Commissioners of the EDA this
day of
,2008.
YES:
NO:
ABSENT:
President
ATTEST:
Executive Director
CERTIFICATION
I, , Executive Director of the New Hope
Economic Development Authority, County of Hennepin, State of Minnesota, do
hereby certify that the foregoing is a true and correct copy of Resolution
No. adopted by the EDA on the day of
2008.
Executive Director
Kfv1: 4847-2425-8819, v. 1
3