062810 EDACITY OF NEW HOPE
EDA MEETING
City Hall, 4401 Xylon Avenue North
June 28, 2010
EDA Meeting will commence upon
adjournment of the City Council Meeting
President Kathi Hemken
Commissioner John Elder
Commissioner Andy Hoffe
Commissioner Eric Lammle
Commissioner Daniel Stauner
1. Call to order
2. Roll call
3. Approval of regular meeting minutes of March 8, 2010
4. Resolution adopting an updated business subsidy policy for the Economic
Development Authority in and for the city of New Hope
5. Adjournment
CITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
EDA Minutes March 8, 2010
Regular Meeting City Hall
CALL TO ORDER President Hemken called the meeting of the Economic Development
Authority to order at 7:36 p.m.
ROLL CALL Present: Kathi Hemken, President
John Elder, Commissioner
Andy Hoffe, Commissioner
Eric Lammle, Commissioner
Daniel Stauner, Commissioner
Staff Present: Kirk McDonald, City Manager /Executive Director
Curtis Jacobsen, Director of Community Development
Valerie Leone, City Clerk
Steve Sondrall, City Attorney
APPROVE MINUTES Motion was made by Commissioner Stauner, seconded by Commissioner
Hoffe, to approve the Regular Meeting Minutes of January 11, 2010. All
present voted in favor. Motion carried
TIF & HRA FUNDS President Hemken introduced for discussion Item 4, Resolution combining
Item 4 related TIF and HRA funds.
Mr. Kirk McDonald, city manager, stated the New Hope City Council
adopted a resolution at its February 22 meeting to combine the funds, and at
that time it was recommended that the EDA ratify the action.
EDA RESOLUTION Commissioner Hoffe introduced the following resolution and moved its
10 -02 adoption: "RESOLUTION COMBINING RELATED TIF AND HRA
Item 4 FUNDS." The motion for the adoption of the foregoing resolution was
seconded by Commissioner Stauner, and upon vote being taken thereon, the
following voted in favor thereof: Hemken, Elder, Hoffe, Lammle, Stauner; and
the following voted against the same: None; Abstained: None; Absent: None;
whereupon the resolution was declared duly passed and adop signed by
the president which was attested to by the executive director.
ADJOURNMENT Motion was made by Commissioner Stauner, seconded by Commissioner
Hoffe, to adjourn the meeting. All present voted in favor. Motion carried The
New Hope EDA adjourned at 7:38 p.m.
Respectfully submitted,
4 zu- 4 - Q��
Valerie Leone, City Clerk
EDA Meeting
March 8, 2010
Page 1
M
Request for Action
Originating Department
Approved for Agenda
Agenda Section
Community Development
June 28, 2010
EDA
Item No.
By: Curtis Jacobsen, Director of CD
By: Kirk McDonald, City Manager
4
Resolution adopting an updated business subsidy policy for the Economic Development Authority in and for
the city of New Hope.
Requested Action
The Authority is requested to adopt the attached resolution adopting an updated version of the authority's
business subsidy policy.
Policy /Past Practice
It is a past practice of the Authority to update its policies and ordinances from time to time as necessary.
Background
The EDA has had a business subsidy policy for a number of years. The policy has not been amended or
updated since its adoption. Staff has reviewed the current policy with a model document drafted by Ehlers
and Associates for the League of Minnesota Cities. The proposed policy is new and in compliance with
current state statutes on the subject. By adopting this model policy the city will have a clearer and more
thorough policy that complies with current state law. The Council discussed this subject at the work session
on June 21 and were in general agreement that the subject be placed on the June 28th Council agenda with
minor modifications.
The Council /EDA retains the right to amend or waive sections of this policy and also the right to deviate from
its criteria by documenting such deviation in writing and submitting said documents with its next annual
report to the state. The change requested by the Council on page 12 Subd. 8.02, to say that the term "may be"
increased rather than is increased has been incorporated. Additionally, the Request for Financial Assistance
Form has been revised by the addition of two additional criteria; provision of documentation as to private
financial commitment and amount and also the provision of the details of the financial structure of the deal
including develo erequity.
Motion by ILIA Second by
To: O
IARFA \COMM DEV\ Policies\ Q&R - EDA Resolution ado tin Business Subsidy Polic 6- 28- 2010.doc
Request for Action
June 28, 2010
Page 2
Recommendation
The Authority is requested to adopt the revised policy as presented.
Attachments
® Resolution
0 Please refer to Council packet attachments
City of New Hope
Economic Development Authority
Resolution No. 2010-
Resolution adopting an updated business subsidy policy
for the Economic Development Authority (EDA)
WHEREAS, the city of New Hope and the EDA have for many years had a business
subsidy policy; and
WHEREAS, that policy has not been modified or amended for many years; and
WHEREAS, Ehlers and Associates has provided a model policy to the League of
Minnesota Cities for use by Minnesota cities; and
WHEREAS, the model policy as provided is compliant with all current Minnesota
state law regarding business subsidies.
NOW, THEREFORE, BE IT RESOLVED, by the Board of the Economic Development
Authority for the city of New Hope, Hennepin County, Minnesota:
1. The policy as presented this date is adopted.
2. That staff shall annually, review the policy for compliance with state statutes
and make appropriate recommendations for modification to the City Council.
Adopted by the EDA in and for the city of New Hope, Hennepin County, Minnesota,
this 28th day of June, 2010.
President
Attest:
Executive Director