101308 EDACITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
EDA Minutes October 13, 2008
Regular Meeting City Hall
CALL TO ORDER President Opem called the meeting of the Economic Development Authority
to order at 8:20 p.m.
ROLL CALL 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
APPROVE MINUTES 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
IMP PROJECT 844 President Opem introduced for discussion Item 4, Resolution approving low
Item 4 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.
EDA RESOLUTION Commissioner Nolte introduced the following resolution and moved its
08 -12 adoption: "RESOLUTION APPROVING LOW INTEREST LOAN
Item 4 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.
ADJOURNMENT Motion was made by Commissioner Nolte, seconded by Commissioner Hoffe,
to adjourn the meeting. All present voted in favor. Motion carried The New
EDA Meeting
Page 1 October 13, 2008
Hope EDA adjourned at 8:24 p.m.
Respectfully submitted,
Valerie Leone, City Clerk
EDA Meeting
Page 2 October 13, 2008