HomeMy WebLinkAbout1992/10/05 - ADMIN - Minutes - Economic Development Authority - RegularIC R O F ILM E D
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ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
October 5, 1992
1. Call to order
Vice-president Friedman called the meeting to order at 6:40 p.m.
2. Ro 11 call
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The following Commissioners were present at roll call: George Haun, Allen
Friedman, Gail Dorfman and Lyle Hanks. Commissioners Jeff Jacobs, Keith
Meland and Larry Mitchell arrived shortly thereafter.
Also present were the Executive Director, City Attorney and Director
of Community Development.
3. Approval of September 21, 1992 minutes
It was moved by Commissioner Hanks, seconded by Commissioner Dorfman,
to approve the minutes. The motion passed 4-0.
4. Approval of agenda
It was moved by Commissioner Hanks, seconded by Commissioner Haun, to
approve the agenda for October 5. The motion passed 4-0.
5. Reports
a. Consultant contract award: Site preparation oversight at 5100 Excelsior
Blvd.
The Executive Director gave a brief overview.
The Executive Director confirmed that the Authority was not legally bound
to go to bid for this work.
It was moved by Commissioner·Hanks, seconded by Commissioner Haun that
the Authority enter into a professional services contract with STS Consult-
ants Ltd. in the amount of $43,300 related to the preparation of 5100
Excelsior Blvd. for redevelopment in 1993.
The motion passed unanimously.
6. Unfinished business
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a. Continuation of public hearing re conveyance of Tower Place site to
Park Nicollet /Frauenshuh
Attorney Steilen said progress has been made over the past few months:
(1) in trying to find creative solutions to the most significant of the
problems that have been raised; (2) understanding of how the problems
arose and the process by which they arose; and (3) hearing a renewal
of the commitment of the redeveloper to the project.
EDA minutes
Oct. 5, 1992
Page 2
Joe Mitlyng, Exec. VP, CO of Park Nicollet, addressed the Authority.
He reiterated Park Nicollet's commitment to this project as well as the
commitment of the team involved. Two issues of concern were the joint
and several liability fo r Park Nicollet and the developers. Park Nicollet
did not wish to jeopardize its 501C(3) tax exempt status. The issue is
how to get around it. Secondly, the remedial action plan. It was important
Park Nicollet not get into a bind between possibly conflicting direction
from the MPCA and Authority. As regards financing sources, Park Nicollet's
lenders' concern is that the open-ended indemnif ication of the City or
any third party liability is an unknown.
It was moved by Commissioner Hanks to table. The motion died fo r lack
of a second.
It was moved by Commissioner Hanks, seconded by Commissioner Friedman,
to maintain the schedule as presented.and continue the public hearing to
October 20.
Commissioner Dorfman asked if all the 8 matters had to be resolved fully
before execution of the agreement. Mr. Franzen, attorney for Park Nicollet,
said that would be desirable; in fact, most of the 8 issues are close
to resolution in varying degrees, several all but resolved at this point.
The motion passed 7-0.
6b. Closed meeting - Wilkins (threatened litigation)
Meeting held at the close of EDA business
7. New business
a. Scheduling_ of second formal EDA meeting in October
It was moved by Commissioner Hanks, seconded by Commissioner Jacobs,
to reschedule the October 19 meeting to October 20 because of a Jewish
holiday.
The motion passed 7-0.
8. Communications and bills
a. September 1992 financial statement
It was moved by Commissioner Jacobs, seconded by Commissioner Hanks to
approve. The motion passed 7-0.
b. Claims
It was moved by Commissioner Jacobs, seconded by Commissioner Hanks to
approve and authorize payment. The motion passed 7-0.
9. Adjournment The eting adjourned at 7:05 p.m. cc-ac& --""-=-~- en
Fecutive Director