121304 EDA
CITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
EDA Minutes December 13, 2004
Regular Meeting City Hall
CALL TO ORDER
President Collier called the meeting of the Economic Development
Authority to order at 7:12 p.m.
ROLL CALL
Present: Don Collier, President
Doug Andersen, Commissioner
Sharon Cassen, Commissioner
Mary Gwin-Lenth, Commissioner
Absent: Steve Sommer, Commissioner
APPROVE MINUTES
Motion was made by Commissioner Cassen, seconded by Commissioner
Andersen, to approve the Regular Meeting Minutes of November 22, 2004,
and closed meeting minutes of November 22, 2004. All present voted in
favor. Motion carried. Motion was made by Commissioner Gwin-Lenth,
seconded by Commissioner Andersen, to approve the special session
minutes of December 6, 2004. Voting in favor: Collier, Andersen, Gwin-
Lenth; Abstained: Cassen; Absent: Sommer. Motion carried.
TIF DISTRICTS 80-2
President Collier introduced for discussion Item 4, Resolution relating to the
AND 81-1
decertification of tax increment financing districts nos. 80-2 and 81-1.
Item 4
Mr. Dan Donahue, city manager, explained that the action will close two tax
increment districts that were established in the early 1980s to aid with
housing projects in the city. He illustrated the existing tax increment
districts throughout the city. He stated there are no outstanding obligations
for which revenues from these two districts are pledged. The city seeks to
decertify the districts and return the associated parcels to the regular tax
rolls.
Mr. Donahue stated District 80-2 (Hillsboro and 36 Avenue) has an
th
estimated fund balance of $174,493 that will be returned to Hennepin
County. District 81-1 (8201 45 Avenue North) has an estimated fund
th
balance of $920 that will be returned to the county. Of the tax increment
revenues that must be returned to the county upon decertification of the
districts, approximately $48,002 will be retuned to the city in the form of
property taxes. The funds will be deposited into the EDA fund for future
redevelopment activities.
EDA RESOLUTION
Commissioner Gwin-Lenth introduced the following resolution and moved
04-42 its adoption “RESOLUTION RELATING TO THE DECERTIFICATION
EDA Meeting
Page 1December 13, 2004
Item 4 OF TAX INCREMENT FINANCING DISTRICTS NOS. 80-2 AND 81-1.”
The motion for the adoption of the foregoing resolution was seconded by
Commissioner Cassen, and upon vote being taken thereon, the following
voted in favor thereof: Collier, Andersen, Cassen, Gwin-Lenth; and the
following voted against the same: None; Abstained: None; Absent: Sommer;
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 Gwin-Lenth, seconded by
Commissioner Andersen, to adjourn the meeting. All present voted in
favor. Motion carried. The New Hope EDA adjourned at 7:20 p.m.
Respectfully submitted,
Valerie Leone
City Clerk
EDA Meeting
Page 2December 13, 2004