061404 EDA OFFICIAL FILE COPY ----
CITY OF NEW HOPE
EDA MEETING
City Hall, 4401 Xylon Avenue North
June 14,'2004
President Don Collier
Commissioner Doug Andersen
Commissioner Sharon Cassen
Commissioner Mary Gwin-Lenth
Commissioner Steve Sommer
1. Call to order
2. Roll call
3. Approval of regular meeting minutes of May 24, 2004
4. Resolution modifying the restated redevelopment plan for redevelopment project no.
1 and the tax increment financing plans for tax increment financing districts nos. 80-
2, 81-1, 82-1, 85-1, 85-2, 86-1, 02-1, 03-1 (special law) and 04-1 (special law)
(improvement project no. 724)
5. Adjournment
CITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
EDA Minutes May 24, 2004
Regular Meeting City Hall
CALL TO ORDER President Collier called the meeting of the Economic Development Authority to
order at 7:56 p.m.
ROLL CALL Present: Don Collier, President
Doug Andersen, Commissioner
Sharon Cassen, Commissioner
Mary Gwin-Lenth,' Commissioner
Steve Sommer, Commissioner
APPROVE MINUTES Motion was made by Commissioner Cassen, seconded by Commissioner Gwin-
Lenth, to approve the Regular Meeting Minutes of May 10, 2004. All present
voted in favor. Motion carried.
IMP. PROJECT 763 President Collier introduced for discussion Item 4, Resolution approving purchase
Item4 agreement and relocation benefits for 5531 Sumter avenue north (improvement
project no. 763).
Staff advised that the EDA had previously reviewed this item and at this time there
was nothing to add.
President Collier asked Ken Doresky, community development specialist, to state
the price for the record. Mr. Doresky stated that the purchase price is $214,000.
EDA RESOLUTION Commissioner Sommer introduced the following resolution and moved its adoption
04-21 "RESOLUTION APPROVING PURCHASE AGREEMENT AND
Item4 RELOCATION BENEFITS FOR 5531 SUMTER AVENUE NORTH
(IMPROVEMENT PROJECT NO. 763)." 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: Collier, Andersen,
Cassen, Gwin-Lenth, Sorcaner, 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 Andersen, seconded by Commissioner Cassen,
to adjourn the meeting. All present voted in favor. Motion carried. The New Hope
EDA adjourned at 8:02 p.rr~
R~..spect?y submin.~ed,
' - · Eve Lomaistro
Human Resources Coordinator
EDA Meeting .May 24, 2004
Page 1
EDA
REQUEST FOR ACTION
Originating Department Approved for Agenda Agenda Section
Community Development ("-'"'~ .~ 06-14-04 EDA
' Item No.
By: Kirk McDonald, Director of CD BY:
Amy Baldwin, CD Assistant 4
A RESOLUTION MODIFYING THE RESTATED REDEVELOPMENT PLAN FOR REDEVELOPMENT
PROJECT NO. 1 AND THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING
DISTRICTS NOs. 80-2, 81-1, 82-1, 85-1, 85-2, 86-1, 02-1, 03-1(SPECIAL LAW) AND 04-1(SPECIAL LAW)
(IMPROVEMENT PROJECT NO. 724)
REQUESTED ACTION
Staff and consultants are recommending that the New Hope Economic Development Authority approve the
attached: Resolution Modifying the Restated Redevelopment Plan for Redevelopment .Project No. 1 and Tax
Increment Financing Plans for Tax Increment Financing Districts Nos. 80-2, 81-1, 82-1, 85-1, 85-2, 86-1., 02-1,
03-1 (Special Law) and 04-1 (Special Law). The resolution was prepared by Krass Monroe, the city's
redevelopment financial consultant, and Gay Greiter will be in attendance at the meeting to answer any
questions on this matter. This step modifies the East Winnetka Tax Increment Financing District to include the
properties related to the CVS Pharmacy redevelopment project. The EDA needs to approve this resolution
making recommendations to the City Council prior to the City Council public hearing.
POLICY/PAST PRACTICE
The EDA and City Council have created and modified tax increment financing districts in the past to facilitate
redevelopment projects.
BACKGROUND
Extensive background information is provided on this matter under the City Council public hearing request and
it is not the intention of staff to duplicate all of that information in this request. Staff is recommending that the
EDA approve the resolution and then conduct the public hearing at the City Council level.
The resolution states, in part, that:
· It has been proposed that the EDA approve and adopt the proposed modifications to the Restated
Redevelopment Plan for Redevelopment Project No. 1 (the "Project Area") reflecting increased project!
costs and increased bonding authority within the Project Area, pursuant to and in accordance with
Minnesota_ Statutes, .Sections 469.001 to 469.047, 469.124 to 469.134 and 469.090 to 469.108, inclusive,
as amended and supplemented from time to time.
MOTION BY. ~I.Y'F'IY_,,4/ SECOND BY ~//~ t
I:RFA\PLANNING\Livable Communities\Q-eda-TIF resolution.doc
Request for Action Page 2 06-14-04
· It has been further proposed that the EDA approve and adopt the proposed modifications to the Tax
Increment Financing Plans for Tax Increment Financing Districts Nos. 80-2, 81-1, 82-1, 85-1, 85-2, 86-1,
02-1 and 04-1(Special Law) (the "TIF Districts") reflecting increased project costs and increased bonding
authority within the Project Area, pursuant to and in accordance with Minnesota Statutes, Sections 469.174
to 469.1799 and 469.090 to 469.108, and Laws of Minnesota 2003, Chapter 21, Article 10, Section 10,
inclusive, as amended and supplemented from time to time.
· I.t has been further proposed that the EDA approve and adopt the proposed modifications to the Tax
Increment Financing Plan for Tax Increment Financing District No. 03-1(Special Law) (the "District")
reflecting increased project costs, increased bonding authority and increased geographic area within the
District, pursuant to and in accordance with Minnesota Statutes, Sections 469.174 to 469.1799 and
469.090 to 469.108, and Laws of Minnesota 2003, Chapter 21, Article 10, SeCtion 10, inclusive, as
amended and supplemented from time to time.
· The EDA has caused to be prepared and has investigated the facts with respect thereto a modified
Restated Redevelopment Plan for the Project Area, modified Tax Increment Financing Plans for the TIF
Districts reflecting increased project costs and increased bonding authority within the Project Area and a
modified Tax Increment Financing Plan for the District reflecting increased project costs, increased
bonding authority and increased geographic area within the District.
· The EDA has performed all actions required by law to be performed prior to the approval and adoption of
the modifications to the Restated Redevelopment Plan for the Project Area and the Tax Increment
Financing Plans for the TIF Districts and the District (collectively the "Plans").
· The EDA hereby determines that it is necessary and in the best interests of the city and the EDA at this
time to approve and adopt the modifications to the Plans.
The resolution states the following findings:
· The EDA hereby finds that the assistance to be provided through the adoption and implementation of the
Plans is necessary to assure the development and redevelopment of the Project Area.
· The EDA hereby finds that the Plans conform to the general plan for the development and redevelopment
of the city as a whole in that they are consistent with the city's comprehensive plan.
· The EDA hereby finds that the Plans afford maximum opportunity consistent with the sound needs of the
city as a whole for the development and redevelopment of the Project Area by private enterprise and it is
contemplated that the development and redevelopment thereof will be carried out pursuant to
redevelopment contracts with private developers.
The resolution states the following approvals and adoptions:
· The modifications to the Restated Redevelopment Plan reflecting increased project costs and increased
bonding authority within the Project Area are hereby approved and adopted by the Commissioners of the
EDA and are forwarded to the New Hope City Council for public hearing, review and approval.
· The modifications to the Tax Increment Financing Plans for the TIF Districts reflecting increased project
costs and increased bonding authority within the Project Area are hereby approved and adopted by the
Commissioners of the EDA and are forwarded to the New Hope City Council for public hearing, review and
approval.
Request for Action Page 3 06-14-04
· The modifications to the Tax Increment Financing Plan for the District reflecting increased project costs,
increased bonding authority and increased geographic area within the District are hereby approved and
adopted by the Commissioners of the EDA and are forwarded to the New Hope City Council for public
hearing, review and approval.
Lastly, the resolution states that:
· Upon approval and adoption of the Plans, the EDA shall cause said Plans to be filed with the Minnesota
Department of Revenue.
Staff recommends approval of the resolution and forwarding the matter to the City Council for consideration at
the public hearing.
ATTACHMENTS
· Resolution
NEW HOPE ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF HENNEPIN
STATE OF MINNESOTA
RESOLUTION NO.
A RESOLUTION MODIFYING THE RESTATED REDEVELOPMENT PLAN FOR
REDEVELOPMENT PROJECT NO. 1 AND THE TAX INCREMENT FINANCING
PLANS FOR TAX INCREMENT FINANCING DISTRICTS NOS. 80-2, 81-1, 82-1,
85-1, 85-2, 86-1, 02-1, 03-1(SPECIAL LAW) AND 04-1(SPECIAL LAW)
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of
the New Hope Economic Development Authority (the "EDA"), as follows:
Section 1. Recitals.
1.01. It has been proposed that the EDA approve and adopt the proposed
modifications to the Restated Redevelopment Plan for Redevelopment Project No. 1
(the "Project Area") reflecting increased project costs and increased bonding
authority within the Project Area, pursuant to and in accordance with Minnesota
Statutes, Sections 469.001 to 469.047, 469.124 to 469.134 and 469.090 to 469.108,
inclusive, as amended and supplemented from time to time.
1.02. It has been further proposed that the EDA approve and adopt the
proposed modifications to the Tax Increment Financing Plans for Tax Increment
Financing Districts Nos. 80-2, 81-1, 82-1, 85-1, 85-2, 86-1, 02-1 and 04-1(Special
Law) (the "TIF Districts") reflecting increased project costs and increased bonding
authority within the Project Area, pursuant to and in accordance with Minnesota
Statutes, Sections 469.174 to 469.1799 and 469.090 to 469.108, and Laws of
Minnesota 2003, Chapter 21, Article 10, Section 10, inclusive, as amended and
supplemented from time to time.
1.03. It has been further proposed that the EDA approve and adopt the
proposed modifications to the Tax Increment Financing Plan for Tax Increment
Financing District No. 03-1(Special Law) (the "District") reflecting increased project
costs, increased bonding authority and increased geographic area within the District,
pursuant to and in accordance with Minnesota Statutes, Sections 469.174 to
469.1799 and 469.090 to 469.108, and Laws of Minnesota 2003, Chapter 21, Article
10, Section 10; i-nclusive, as amended and supplemented from time to time. -'
1.04. The EDA has caused to be prepared and has investigated the facts
with respect thereto a modified Restated Redevelopment Plan for the Project Area,
modified Tax Increment Financing Plans for the TIF Districts reflecting increased
,project costs and increased bonding authority within the Project Area and a modified
Tax Increment Financing Plan for the District reflecting increased project costs,
increased bonding authority and increased geographic area within the District.
1.05. The EDA has Performed all actions required by law to be performed
prior to the approval and adoption of the modifications to the Restated
Redevelopment Plan for the Project Area and the Tax Increment Financing Plans for
the TIF Districts and the District (collectively the "Plans").
1.06. The EDA hereby determines that it is necessary and in the best
interests of the City and the EDA at this time to approve and adopt the modifications
to the Plans.
Section 2. Findinqs.
2.01. The EDA hereby finds that the assistance to be provided through the
adoption and implementation of the Plans is necessary to assure the development
and redevelopment of the Project Area.
2.02, The EDA hereby finds that the Plans conform to the general plan for the
development and redevelopment of the City as a whole in that they are consistent
with the City's comprehensive plan..
2.03. The EDA hereby finds that the Plans afford maximum opportunity
consistent with the sound needs of the City as a whole for the development and
redevelopment of the Project Area by private enterprise and it is contemplated that
the development and redeVelopment thereof will be carried out pursuant to
redevelopment contracts with private developers.
Section 3. Approvals and Adoptions.
3.01. The modifications to the Restated Redevelopment Plan reflecting
increased project costs and increased bonding, authority within the Project Area are
hereby approved and adopted by the Commissioners of the EDA and are forwarded
to the New Hope City Council for public hearing, review and approval.
3.02. The modifications to the Tax Increment Financing Plans for the TIF
Districts reflecting increased project costs and increased bonding authority within the
Project Area are hereby approved and adopted by the Commissioners of the EDA
and are forwarded to the New Hope City Council for public hearing, review and
approval.
3.03. The modifications to the Tax Increment Financing Plan for the District
reflecting increased project costs, inCreased bonding authority and increased
geographic area within the District are hereby approved and adopted by the
Commissioners of the EDA and are forwarded to the New Hope City Council for
public hearing, review and approval.
Section 4. Filing of Plans.
4.01. Upon approval and adoption of the Plans, the EDA shall cause said
Plans to be filed with the Minnesota Department of Revenue.
Adopted by the Commissioners of the EDA this day of ,2004.
YES:
NO:
ABSENT:
President
ATTEST:
Executive Director
CERTIFICATION
I, , Executive Director of the New Hope
Economic Development Authority, County of Hennepin, State of Minnesota, do
hereby certify that the foregoing is a true and correct copy of Resolution
No. adopted by the EDA on the day of
2004. '
Executive Director