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Home My WebLink About1992/11/02 - ADMIN - Minutes - Economic Development Authority - RegularM I N U T E S E C O N O M I C D E V E L O P M E N T A U T H O R I T Y S T . L O U I S P A R K , M I N N E S O T A N o v e m b e r 2 , 1 9 9 2 1 . C a l l t o o r d e r T h e m e e t i n g w a s c a l l e d t o o r d e r a t 6 :0 0 p .m . b y V i c e -p r e s i d e n t A l l e n F r i e d m a n . 2 . R o 1 1 c a 11 l ) i I ? The following Cammi ssioners were present at roll call: Jeff Jacobs, George Haun, Lyle Hanks and Allen Friedman. Commissioner Larry Mitchell arrived at 6: 17 p.m. Also present were the Executive Director, City Attorney and Director of Community Development. 3. Approval of October 20, 1992 minutes It was moved by Commissioner Hanks, seconded by Commissioner Jacobs, to approve the minutes of the October 20, 1992 minutes. The motion passed 4-0. 4. Approval of November 2, 1992 agenda It was moved by Commissioner Jacobs, seconded by Commissioner Haun, to approve the agenda for Nov. 2. The motion passed 4-0. 5. Reports a. Entrance sign for triangle area at County Rd. 25/Minnetonka/France Ave. The Executive Director reported that grading, seeding, sodding, electrical wiring and much of the landscaping is now complete with the remainder of the landscaping and installation of the entry sign to be accomplished in the Spring of 1993. He noted that cost estimates for the project had escala- ted based on components added by the Authority and estimates that have been revised upward by firms such as NSP. Barry Warner, Barton-Aschman, was present to talk about the design of the entry sign. Cammi s s i oner Haun was concerned at the escalation of the project's cos ts and the total cost of the project getting out of hand. Commissioner Jacobs asked how a new signal system would be different from what was there now. The Executive Director said the current signals are temporary with the cable overhead and the poles wooden. The system under design would be contemporary in design as opposed to wooden and permanent. In answer to a question from Vice-president Friedman as to why OSM had E c o n o m i c D e v e l o p m e n t A u t h o r i t y m i n u t e s N o v e m b e r 2 , 19 9 2 2 . b e e n h i r e d t o d e s i g n t h e t r a f f i c c o n t r o l s y s t e m , t h e E x e c u t i v e D i r e c t o r r e s p o n d e d t h a t t h a t w a s a t t h e d i r e c t i o n o f t h e A u t h o r it y s o t h a t if a n d w h e n o t h e r g o v e r n m e n t a l b o d i e s s u c h a s t h e C o u n t y a n d S t a t e in d i c a t e d a w i l l i n g n e s s t o p a r t i c i p a t e in c o s t s h a r e , p l a n s w o u l d b e r e a d y t o g o w h e n t h e f u n d s b e c a m e a v a i l a b l e . V i c e -p r e s i d e n t F r i e d m a n c o u l d n o t s u p p o r t a n y f u r t h e r e x p e n d i t u r e f o r t h i s p r o j e c t w h i c h w a s n o w 2 0 0 % o v e r in i t i a l e s t i m a t e s . C o m m i s s i o n e r H a n k s r e m i n d e d t h e A u t h o r i t y t h a t t h e c o s t s f o r t r a f f i c s i g n a l s a n d l i g h t i n g h a v e n o t y e t b e e n c o n t r a c t e d fo r s o t h e p r o j e c t c o s t is n o t $4 3 0 ,0 0 0 a s i n d i c a t e d i n t h e r e p o r t . B a r r y W a r n e r d e s c r i b e d in d e t a i l t h e p r o p o s e d e n t r y s i g n . C o m m i s s i o n e r H a n k s f e lt t h e s i g n , a l b e it b e a u t if u l , d i d n o t h i n g fo r t h e C it y . H e w o u l d l i k e t o s e e t h e C it y c o l o r , b l u e , in c o r p o r a t e d in t o t h e s i g n a s w e l l a s b e i n g s i m p l if i e d in d e s i g n . H e f e lt t h e s i g n fo r S o u t h d a l e a n d t h e e n t r y in t o H o p k i n s w e r e m o r e in k e e p i n g w it h w h a t h e h a d in m i n d f o r a n e n t r a n c e s i g n . It w a s m o v e d b y C o m m i s s i o n e r H a n k s , s e c o n d e d b y C o m m i s s i o n e r H a u n , t o d i r e c t B a r t o n -A s c h m a n t o l o o k a t a s i g n li k e S o u t h d a l e a n d r e p o r t b a c k o n w h a t a s i g n l i k e t h a t w o u l d c o s t a n d d e f e r t h e it e m t o t h e f i r s t m e e t i n g i n D e c e m b e r . C o m m i s s i o n e r J a c o b s w a s c o n c e r n e d a b o u t t h e s c a l e o f a s m a ll e r s i g n o n t h e p r o p e r t y . C o m m i s s i o n e r F r i e d m a n s a i d h e 'd v o t e n o . T h e A u t h o r i t y h a s w a s t e d t o o m u c h t i m e , m o n e y , e f f o r t in a t i m e w h e n a s i g n i s n o t r e a l l y t h a t im p o r t a n t . S T E P c o u l d u s e t h e m o n e y t o b e t t e r a d v a n t a g e . T h e m o t i o n p a s s e d 4 -1 (V i c e -p r e s i d e n t F r i e d m a n o p p o s e d ). 6 . U n f i n i s h e d b u s i n e s s a . C o n t i n u a t i o n o f p u b l i c h e a r i n g r e c o n v e y a n c e o f T o w e r P l a c e s i t e t o P a r k N i c o l le t /F r a u e n s h u r T h e E x e c u t i v e D i r e c t o r g a v e a b r i e f u p d a t e . H e c a l l e d o n t h e D i r e c t o r o f C o m m u n i t y D e v e l o p m e n t t o g i v e a b r i e f p r e s e n t a t i o n r e l a t i n g t o t h e p r o p o s e d p h y s i c a l d e s i g n . R e p r e s e n t a t i v e s f r o m P a r k N i c o l l e t h a d n o c o m m e n t . C o m m i s s i o n e r H a n k s a s k e d t h e C it y A t t o r n e y w h e r e t h e p r o j e c t s t a n d s a n d w h a t i s h o l d i n g i t u p r e t h e a g r e e m e n t . M r . S t e i l e n r e s p o n d e d t h a t m o s t if not all of the major issues have been resolved. At this point, the redevelopment agreement is being redrafted. E c o n o m i c D e v e l o p m e n t A u t h o r i t y N o v . 2 m i n u t e s 3 . l ) j It was moved by Commissioner Hanks, seconded by Commissioner Mitchell, to direct staff to have the conveyance document ready for Authority approval on Dec. 7, 1992, and continue the public hearing to that date. The motion passed 5-0. b. Consideration of 1993 EDA budget The Executive Director said this document was reviewed at the September Authority meeting and has been amended to reflect what staff believes to be the City Council's intent as relates to the School Board's request for payment of referendum levy tax increment. Commissioner Haun asked the status of the Parkshore project. Mr. Steilen responded that Mike Gould had reported at a meeting two weeks ago that he was progressing on the negot i at ions with the owners of the corner site (the bank building). He is looking to close the loan portion of the transaction as soon as he comes up with the required Letter of Credit. It was moved by Commissioner Hanks, seconded by Commissioner Mitchell, to approve the revised 1992-93 EDA budget. In answer to a question from Vice-president Friedman, the Executive Director said what was being approved was a financial plan for 1993. It does not obligate the EDA to any capital expenditures other than those previously approved or those brought subsequently to the Authority. The motion passed 5-0. 6c. Status with Wilkins re former site on Excelsior Blvd. owned by EDA Because of pending litigation, this item was discussed after the Authority adjourned. 7. New business - None. 8. Communications and bills a. October 1992 financial statement It was moved by Cammi ss i oner Haun, seconded by Commissioner Jacobs, to approve. The motion passed 5-0. b. Claims It was moved by Commissioner Haun, seconded by Commissioner Jacobs, to approve and authorize payment. The motion passed 5-0. 9. Adjournment - The meeting adjourned at 6:50 p.m. Executive Director