HomeMy WebLinkAbout1990/10/01 - ADMIN - Minutes - Economic Development Authority - RegularMICROFILMED
MINUTES
ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
October 1, 1990
1. Call to order
The meeting was called to order by President Meland at 6:30 p.m.
2. Ro 11 ca 11
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The following Commissioners were present at roll call: Bruce Battaglia, George
Haun, Jane Tschida, Lyle Hanks and Keith Meland. Commissioner Friedman arrived
at 6:43.
Also present were the Executive Dir., City Attorney and Director of Community
Development.
3. Approval of minutes of September 4, September 10 and September 18, 1990
It was moved by Commissioner Battaglia, seconded· by Commissioner Hanks, to
approve the three sets of minutes. The motion passed 6-0.
4. Approval of agenda for October 1, 1990
It was moved by Commissioner Battaglia, seconded by Commissioner Hanks, to
approve the agenda for October 1, 1990. The motion passed 6-0.
5. Unfinished business
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a. Creation of Capital Projects and General Fund
The Executive Director gave a brief analysis of this item.
Commissioner Hanks asked what sorts of things would go into the General Fund
- something like rental from Wilkins. The Director said yes, also proceeds
from a bond sale. Other revenues would include proceeds from sale of land
and interest earned on investment of EDA funds.
It was moved by Commissioner Battaglia, seconded by Commissioner Tschida,
to authorize creation of a new capital projects fund by merging the existing
capital projects funds for each of the three tax increment districts into
it; authorize creation of a general fund; and approve the transfer of non-tax
increment and non-bond proceed funds into it.
Commissioner Haun asked if a 11 the funds in a bonding fund were expended,
could money be borrowed from the other fund to accomplish a project, for
example.
The City Attorney responded if there is a project that is a legal expenditure
of both funds, drawn-down can be made from each fund - money does not have
to be transferred back and forth.
The motion passed 6-0.
6. Com m un ic atio ns and bills
a. Sep t . 30 , 19 90 fin anc ia l sta tem e nt
It w as moved by Comm is sio ner Ha un , se co nd e d by Com m is s io ner Ba tt a g li a , to
appro ve the fin anc ia l statem ent . The m o tio n pa s se d 6-0 .
b. Cla im s
It was moved by Com m is sio ner Ha un , sec o nd ed by Com m is sio ne r Tsc h id a , to ap p r o v e
the cla im s and autho riz e paym ent . The mo t io n pa sse d 6-0 .
Comm is sio ner Haun asked the sta tu s of the co nt am in ate d so il at Tow e r Pla c e .
The Execut iv e Dir ector said th e so il ha s be e n ana ly z ed and the A u t h o r it y
ha s a re que st pend in g be fore the MPCA re how th ey w o u ld rec om m e n d dis p o s a l
of the so il .
The Cit y Attorney noted a spe c ia l met in g of the ED A sh o u ld be ca l le d fo r
Oct. 15 , 19 90 re la tiv e to som e m in o r re lo c at io n cla im s in re the On th e A ve n u e
co ndem natio n .
It w as the co nse n su s the Author it y mee t on Oct . 15 pr io r to the Co un c il m e e t in g .
7. Adjo urnm ent
It was moved by Comm is sio ner Ha nk s , sec o nde d by Com m is s io ner Ba tt a g li a , th a t
the meet in g adjo urn at 6:4 5 p.m . The m ot io n pa s se d 6-0 .
Exec ut iv e Dir ect or