120808 EDACITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
EDA Minutes December 8, 2008
Regular Meeting City Hall
CALL TO ORDER President Opem called the meeting of the Economic Development Authority
to order at 7:30 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
Jerry Beck, Communications Coordinator
Shari French, Director of Parks & Recreation
Curtis Jacobsen, Director of Community Development
Rich Johnson, Human Resources Manager
Valerie Leone, City Clerk
Julie Linnihan, Finance Manager
Kyle Mestad, Web Site Intern
Steve Sondrall, City Attorney
APPROVE MINUTES Motion was made by Commissioner Nolte, seconded by Commissioner
Stauner, to approve the Regular Meeting Minutes of October 13, 2008. All
present voted in favor. Motion carried
IMP PROJECT 842 President Opem introduced for discussion Item 4, Resolutions regarding
Item 4 proposed Tax Increment Financing District No. 08 -1 and Hazardous
Substance Subdistrict No. 08 -1A (improvement project no. 842).
Commissioner Stauner inquired whether a decline of property values
(including commercial properties) could impact the tax increment financing
district's payback schedule.
Mr. Curtis Jacobsen, director of community development, indicated an
analysis of that nature has not yet been conducted but will be completed in
the future. He noted the school district property is a tax exempt property
which is only reviewed by the assessor every six years.
EDA Meeting
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Commissioner Hoffe referred to Exhibit VI -E "Estimated Impact of Tax
Increment Financing District No. 08 -1" that shows an estimated tax capacity
of $322,000. He inquired whether this exhibit is the data utilized in the
preliminary calculations.
Mr. Jim Casserly, Krass Monroe, was recognized. He stated the values utilized
December 8, 2008
in the plan are for payable 2009. Mr. Casserly also confirmed that the only
property proposed for TIF District 08 -1 is the southeast corner of Winnetka
and 42nd avenues. Discussion ensued regarding property values for the other
parcels in the redevelopment area. Mr. Casserly indicated the Council was
previously provided financial information for both the northwest and
northeast corners, and he would make it available again if so desired.
President Opem reminded the EDA and audience that the project is in the
preliminary stage and currently shows a financial gap. He stated the
developer will continue to refine the numbers, and if it is determined that the
project is not financially feasible, the city can decertify the TIF District at a
later date.
EDA RESOLUTION Commissioner Elder introduced the following resolution and moved its
08 -13 adoption: "RESOLUTION RELATING TO THE DECERTIFICATION OF
Item 4 PARCELS FROM TAX INCREMENT FINANCING DISTRICT NO. 85 -2)."
The motion for the adoption of the foregoing resolution was seconded by
Commissioner Nolte, 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.
EDA RESOLUTION Commissioner Nolte introduced the following resolution and moved its
08 -14 adoption: "RESOLUTION MODIFYING THE RESTATED
Item 4 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) AND 04 -1 (SPECIAL LAW) AND 04 -2; CREATING TAX
INCREMENT FINANCING DISTRICT NO. 08 -1, AND ADOPTING A TAX
INCREMENT FINANCING PLAN RELATING THERETO)." The motion for
the adoption of the foregoing resolution was seconded by President Opem,
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.
EDA RESOLUTION Commissioner Nolte introduced the following resolution and moved its
08 -15 adoption: "RESOLUTION MODIFYING THE RESTATED
Item 4 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) AND 04 -1 (SPECIAL LAW) AND 04 -2; CREATING HAZARDOUS
SUBSTANCE SUBDISTRICT NO. 08 -1A, AND ADOPTING A TAX
INCREMENT FINANCING PLAN RELATING THERETO)." 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
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attested to by the executive director.
ADJOURNMENT Motion was made by Commissioner Nolte, seconded by Commissioner Elder,
to adjourn the meeting. All present voted in favor. Motion carried The New
Hope EDA adjourned at 7:40 p.m.
Respectfully submitted,
Valerie Leone, City Clerk
EDA Meeting
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