Ed072202
CITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
Approved EDA Minutes July 22, 2002
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
Don Collier, Commissioner
Mary Gwin-Lenth, Commissioner
Sharon Cassen, Commissioner
Pat LaVine Norby, Commissioner
APPROVE MINUTES to
Motion was made by Commissioner Norby, seconded by Commissioner Collier,
approve the Regular Meeting Minutes of May 13, 2002
. All present voted in
favor. Motion carried.
CITY CENTER AREA President Enck introduced for discussion Item 4, Resolution Approving Letter of
Item 4 Intent to Work Collaboratively with Brookstone, Inc. on Potential Redevelopment
of City Center Area and Authorizing Executive Director to Execute Agreement.
Mr. Kirk McDonald, Director of Community Development, stated city staff and
several members of the City Council have met with several developers over the past
year in an effort to generate interest in and to pursue the potential redevelopment
of the City Center area. The developer that has met with staff on the most frequent
and consistent basis over the past six months has been Richard Martens from
Brookstone, Inc., the developer of the Golden Valley Town Square project. Staff is
recommending that the Economic Development Authority now take steps to
formalize this working partnership by approving a resolution and Letter of Intent.
Mr. McDonald noted that although staff recently received word from the Met
Council that the City Center Opportunities Grant was not funded, staff anticipates
that the EDA will want to move forward with forming a task force and undertake
the planning study and possibly reduce the cost of study and/or utilize EDA funds
to cover the costs of the study.
He stated the Letter of Intent from Brookstone, Inc. requires no payment from the
City to the developer and simply states that the two parties agree to work together
over the next 12 months to develop plans, in conjunction with a task force, for the
potential redevelopment of the City Center area. He reviewed the key points of the
agreement:
nd
·
The project area includes the northwest and southeast corners of 42 and
Winnetka. The southeast parcel will be taken out of the letter of intent if
another developer moves ahead.
·
The New Hope Economic Development Authority hereby grants Brookstone,
Inc. an exclusive right to negotiate with the City for the redevelopment of all
or a portion of the City Center area for a period of 12 months, based upon
moving forward collaboratively on the agreed upon timeline and work
program.
New Hope EDA
Page 1 July 22,
2002
moving forward collaboratively on the agreed upon timeline and work
program.
·
It is understood that if the parties are reasonably satisfied at the end of one
year that the Letter of Intent may be extended or a formal agreement entered
into, if appropriate.
·
The specific goal for redevelopment will be a broadly based mixed use project,
including a variety of housing types and mixed use commercial, and to
establish an inviting pedestrian friendly, village environment that has a strong
gathering place attraction.
·
Both parties agree that they will work together in a collaborative manner, but
have distinct responsibilities within the joint venture effort.
·
It is understood and agreed that the City will take financial responsibility to
initiate the items included in the workplan.
·
It is understood that Brookstone will be responsible for providing input on
planning and financial matters, will have no direct financial responsibility and
will be paid no fees for their effort.
Richard Martens, Brookstone, Inc., was recognized.
He spoke regarding the location attributes and noted the complexity of
redevelopment endeavors. He emphasized the need to make it a pedestrian friendly
area.
Commissioner Gwin-Lenth complimented Mr. Martens on the Golden Valley
project.
For the record President Enck reported that he contacted Mr. Marten through a
friend, but he has no financial relationship with the firm of Brookstone, Inc. and
there is no conflict of interest.
President Enck requested staff to amend the resolution to include the language
regarding the southeast parcel (school district site).
There were no further questions from the EDA or audience.
RESOLUTION 02-04 Commissioner Collier introduced the following resolution and moved its adoption
Item 4 “RESOLUTION APPROVING LETTER OF INTENT TO WORK
COLLABORATIVELY WITH BROOKSTONE, INC. ON POTENTIAL
REDEVELOPMENT OF CITY CENTER AREA AND AUTHORIZING
EXECUTIVE DIRECTOR TO EXECUTE AGREEMENT”.
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, 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 9:15 p.m.
Respectfully submitted,
New Hope EDA
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2002
Valerie Leone
City Clerk
New Hope EDA
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2002