HomeMy WebLinkAbout2011/07/18 - ADMIN - Minutes - Economic Development Authority - Regular III St. Louis Park OFFICIAL MINUTES
MINNESOTA ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
JULY 18, 2011
1. Call to Order
President Finkelstein called the meeting to order at 7:20 p.m.
Commissioners present: President Phil Finkelstein, Jeff Jacobs, Anne Mavity, Paul Omodt, Julia
Ross, Susan Sanger, and Sue Santa.
Commissioners absent: None.
Staff present: Deputy Executive Director (Ms. Deno), Director of Community Development
(Mr. Locke), and Recording Secretary(Ms. Hughes).
2. Roll Call
3. Approval of Minutes
3a. Economic Development Authority Minutes of May 16, 2011
The minutes were approved as presented.
4. Approval of Agenda
The agenda was approved as presented.
5. Reports -None
6. Old Business-None
7. New Business
7a. Second Amendment to the Redevelopment Contract with Wooddale Catered
Living Owner, LP
EDA Resolution No. 11-07
Mr. Locke presented the staff report and advised that this Second Amendment to the
Redevelopment Contract with Wooddale Catered Living is a housekeeping matter to
make it possible for the Wooddale Pointe project to move forward. He indicated that the
Redeveloper has their financing lined up with a closing date scheduled for July 29 and
groundbreaking in August; however, the Redevelopment Contract provides that
construction on the project was to have commenced by July 1, 2011, so the Second
Amendment extends the deadlines for six months so that when the Redeveloper closes on
their financing and breaks ground, they will be in conformance with the agreement rather
than in technical default.
President Finkelstein asked if it is anticipated that the project will be completed on or
before November 2012.
Economic Development Authority -2- July 18, 2011
Mr. Locke replied in the affirmative.
It was moved by Commissioner Mavity, seconded by Commissioner Ross, to approve
EDA Resolution No. 11-07 Approving a Second Amendment of a Contract for Private
Redevelopment Between the St. Louis Park Economic Development Authority and
Wooddale Catered Living Owner, LP.
The motion passed 7-0
8. Communications-None
9. Adjournment
The meeting adjourned at 7:25 p.m.
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Secretary ' President