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Ed051302 CITY OF NEW HOPE 4401 XYLON AVENUE NORTH NEW HOPE, MINNESOTA 55428 Approved EDA Minutes May 13, 2002 Regular Meeting City Hall CALL TO ORDER President Enck called the meeting of the Economic Development Authority to order at 8:30 p.m. ROLL CALL Present: W. Peter Enck, President Don Collier, Commissioner Mary Gwin-Lenth, Commissioner Sharon Cassen, Commissioner Pat LaVine Norby, Commissioner APPROVE MINUTES Motion was made by Commissioner Gwin-Lenth, seconded by Commissioner to approve the Regular Meeting Minutes of April 8, 2002 Cassen, . All present voted in favor. Motion carried. IMP. PROJECT 707 President Enck introduced for discussion Item 4, Resolution Authorizing the Item 4 President and Executive Director to Enter into a Redevelopment and Loan Agreement with Project for Pride in Living, Inc. for Funding of 7610 Bass Lake Road Redevelopment Project (Improvement Project No. 707). Mr. Kirk McDonald, Director of Community Development, stated the renovation of the 11-unit apartment complex will include exterior and interior improvements as well as site improvements. The building exterior will be completely renovated, including painting, the repair or replacement of the soffits, fascia, gutters and downspouts, brick and mortar repair, and the repair or replacement of the windows and exterior doors. The interior work will include updating the existing units in their present configuration. New cabinets, counters and appliances will be provided in the kitchens. The plumbing and electrical will be updated. The existing boiler will be inspected and replaced, if necessary. The walls will be repaired and painted and new carpeting will be installed throughout. The site improvements will include improved landscaping, the addition of a playground, resurfacing and expansion of the driveway, repair of walkways and the addition of garages. Mr. McDonald pointed out that the garages can be added without requiring a variance. Mayor Enck noted agenda items 4 and 5 both relate to this project. Mr. McDonald called attention to the funding sources for the $1.32 million project. RESOLUTION 02-02 Commissioner Collier introduced the following resolution and moved its adoption Item 4 “RESOLUTION AUTHORIZING THE PRESIDENT AND EXECUTIVE DIRECTOR TO ENTER INTO A REDEVELOPMENT AND LOAN AGREEMENT WITH PROJECT FOR PRIDE IN LIVING, INC. FOR FUNDING OF 7610 BASS LAKE ROAD REDEVELOPMENT PROJECT (IMPROVEMENT PROJECT NO. 707)”. The motion for the adoption of the foregoing resolution was seconded by Commissioner Cassen, and upon vote being taken thereon, the following voted in favor thereof: Enck, Cassen, Collier, Gwin- Lenth, Norby, 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. New Hope EDA Page 1 May 13, 2002 IMP. PROJECT 707 President Enck introduced for discussion Item 5, Resolution Approving Financial Item 5 Participation of the Hennepin County Housing and Redevelopment Authority Affordable Housing Incentive Fund Program in the 7610 Bass Lake Road Redevelopment Project (Improvement Project No. 707). RESOLUTION 02-03 Commissioner Norby introduced the following resolution and moved its adoption Item 5 “RESOLUTION APPROVING FINANCIAL PARTICIPATION OF THE HENNEPIN COUNTY HOUSING AND REDEVELOPMENT AUTHORITY AFFORDABLE HOUSING INCENTIVE FUND PROGRAM IN THE 7610 BASS LAKE ROAD REDEVELOPMENT PROJECT (IMPROVEMENT PROJECT NO. 707)”. The motion for the adoption of the foregoing resolution was seconded by Commissioner Cassen, and upon vote being taken thereon, the following voted in favor thereof: Enck, Cassen, Collier, Gwin-Lenth, Norby, 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. ADJOURNMENT Motion was made by Commissioner Collier, seconded by Commissioner Gwin- to adjourn the meeting Lenth, . All present voted in favor. Motion carried. The New Hope EDA adjourned at 8:37 p.m. Respectfully submitted, Valerie Leone City Clerk New Hope EDA Page 1 May 13, 2002