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Home My WebLink About1994/01/18 - ADMIN - Minutes - Economic Development Authority - RegularMINU TES E C O N O M I C D E VELOPMENT AUTHORITY ST. LOUIS PARK, MINN ESOTA January 18, 1994 EDA February 7, 1994 Item 3 MICROFILME: In the absence of Commissioners Hanks (EDA President) and Haun (EDA Vice-president) it was the consensus of the Commissioners present that Commissioner Jacobs preside over this evening's meeting. 1. Call to order Commissioner Jacobs called the meeting to order at 7:15 p.m. 2. Roll call The following Commissioners were present at roll call: Jeff Jacobs, Allen Friedman, Ron Latz, Robert Young and Gail Dorfman. Also present were the Executive Director (Mr. Meyer); Attorney (Mr. Steilen); Director of Community Development Hagen); and Finance Director (Mrs. McBride). 3. Approval of minutes ' ) j I ? EDA (Mr. Commissioner Dorfman referenced item 6a of the January 3, 1994 minutes and believed the abstaining vote was Commissioner Haun, not Commissioner Friedman. With that correction, it was moved by Commissioner Latz, seconded by Commissioner Young, to approve the minutes. The motion passed 5-0. 4. Approval of agenda It was moved by Commissioner Friedman, seconded by Commissioner Dorfman, to approve the agenda with the addition of item 7a. Removal and disposal of remnants on the Frauenshuh parcel. With that addition, the motion passed 5-0. 5. Reports a. Resolution approving pledging of tax increment revenue for debt service - Resolution EDA 1-94. It was moved by Commissioner Dorfman, seconded by Commissioner Friedman, to adopt Resolution EDA 1-94 entitled "Resolution approving the issuance of $7,195,000 general obligation tax increment refunding bonds of 1994 by the City of St. Louis Park, Minnesota; pledging certain tax increments to such bonds; authorizing a tax increment pledge agreement in connection t h e r e w i t h ; a u t h o r i z i n g t h e r e f u n d i n g o f $6 ,0 0 0 ,0 0 0 t a x i n c r e m e n t r e v e n u e r e f u n d i n g b o n d s , S e r i e s 1 9 9 0 , o f t h e S t . L o u i s P a r k 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 ; d i r e c t i n g t h e e a r l y c a l l f o r r e d e m p t i o n o f s u c h b o n d s ; a n d a u t h o r i z i n g a n e s c r o w a g r e e m e n t i n c o n n e c t i o n t h e r e w i t h . T h e m o t i o n p a s s e d 5 -0 . 6 . N e w B u s i n e s s a . C o r r e c t i o n t o J a n u a r y 3 , 1 9 9 4 m o t i o n e l e c t i n g E D A o f f i c e r s M r . M e y e r r e f e r e n c e d s t a f f 's m e m o s t a t i n g t h a t t h e p r o p o s a l t o c o m b i n e t h e o f f i c e s o f S e c r e t a r y a n d T r e a s u r e r w a s i n e r r o r ; r a t h e r t h e p o s i t i o n s w o u l d r e m a i n s e p a r a t e b u t o n e p e r s o n e l e c t e d t o s e r v e i n b o t h c a p a c i t i e s i f t h e A u t h o r i t y s o d e s i r e s . I t w a s m o v e d b y C o m m i s s i o n e r F r i e d m a n , s e c o n d e d b y C o m m i s s i o n e r D o r f m a n , t h a t C o m m i s s i o n e r J a c o b s s e r v e a s S e c r e t a r y a n d T r e a s u r e r o f t h e A u t h o r i t y f o r 1 9 9 4 . T h e m o t i o n p a s s e d 5 -0 . I t w a s m o v e d b y C o m m i s s i o n e r F r i e d m a n , s e c o n d e d b y C o m m i s s i o n e r D o r f m a n t h a t t h e E x e c u t i v e D i r e c t o r b e e l e c t e d a s A s s i s t a n t T r e a s u r e r a n d P a t S m i t h e l e c t e d a s A s s i s t a n t S e c r e t a r y . T h e m o t i o n p a s s e d 5 -0 . b . A m e n d m e n t s t o 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 B y -L a w s (i ) I t w a s m o v e d b y C o m m i s s i o n e r D o r f m a n , s e c o n d e d b y C o m m i s s i o n e r F r i e d m a n , t o a m e n d t h e E D A B y -L a w s t o r e a d : "T h e 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 h a l l e l e c t o f f i c e r s a t i t s f i r s t r e g u l a r m e e t i n g i n J a n u a r y o f e a c h y e a r ." T h e m o t i o n p a s s e d 5 -0 . (i i ) I t w a s m o v e d b y C o m m i s s i o n e r D o r f m a n , s e c o n d e d b y C o m m i s s i o n e r F r i e d m a n , t h a t t h e 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 h a l l m e e t a t 7 :0 0 p .m . o n t h e f i r s t M o n d a y o f e a c h m o n t h . T h e m o t i o n p a s s e d 5 -0 . 7 . O l d b u s i n e s s a . R e m o v a l a n d d i s p o s a l o f r e m n a n t s o n t h e F r a u e n s h u h s i t e . M r . M e y e r n o t e d t h a t a t t h e E D A m e e t i n g o n D e c e m b e r 2 0 , t h e A u t h o r i t y a u t h o r i z e d s t a f f t o a m e n d i t s a g r e e m e n t w i t h F r a u e n s h u h C o m p a n i e s w h e r e i n i t w a s s t a t e d t h a t t h e E D A w o u l d s u p p o r t t h e c o s t o f r e m o v a l o f a n y b u i l d i n g r e m n a n t s t h a t w e r e l o c a t e d o n t h e s i t e . I n l o o k i n g a t t h i s m o r e c l o s e l y , c o n c e r n s a r o s e t h a t p e r h a p s m o r e p r o p e r l y w h a t t h e E D A s h o u l d d o i s l e t a p u b l i c c o n t r a c t f o r t h e e x c a v a t i o n a n d r e m o v a l w o r k a n d r a t h e r t h a n t h e E D A r e i m b u r s i n g F r a u e n s h u h , l e t F r a u e n s h u h r e i m b u r s e t h e E D A f o r i t s p o r t i o n o f t h e c o s t s . C o m m i s s i o n e r F r i e d m a n a s k e d i f F r a u e n s h u h w o u l d b e e l i g i b l e t o b i d o n t h i s p r o j e c t . 1 -lg -} 4 MICROFILMED Mr. Meyer did not know if Frauenshuh would be eligible to bid on it, but certainly the contractor that Frauenshuh had been seeking to do the excavation and removal work for them would be eligible to bid. It was moved by Commissioner Friedman, seconded by Commissioner Dorfman, to approve staff's recommendation. The motion passed 5-0. 8. Other business None 9. Communications and bills a. EDA monthly statement for December 1993 By consensus, monthly statement received for filing. 10. Adjournment It was moved by Commissioner Friedman, seconded by Commissioner Dorfman, to adjourn the meeting at 7:30 p.m. The motion passed 5- 0. 1 ) J ace Ive DTact I J