HomeMy WebLinkAbout2005/02/07 - ADMIN - Minutes - Economic Development Authority - RegularAU/;,CITYOF
ST. LOUIS
PARK
OFFICIAL MINUTES
ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
February 7, 2005
1. Call to Order
President Santa called the meeting to order at 7:22 pm.
2. Roll Call
Commissioners present: Sue Santa, John Basill, Jeff Jacobs, Phil Finkelstein, Paul Omodt, Susan
Sanger, and Sally Velick.
Staff present: City Manager (Mr. Harmening), Community Development Director (Mr. Locke)
and Economic Development Coordinator (Mr. Hunt).
3. Approval of Minutes
3a. Economic Authority Minutes of January 3, 2005
It was motioned by Commissioner Finkelstein, seconded by Commissioner Sanger to
approve the minutes as presented.
The motion passed 7-0.
4. Approval of Agenda
) 5. Reports
Sa. Motion to accept and file vendor claim report
It was motioned by Commissioner Velick, seconded by Commissioner Basil! to accept the
vendor claims for filing.
The motion passed 7-0.
6. Old Business
7. New Business
7a. Tax Increment Financing (TIF) Pay As You Go Note to Excelsior & Grand II
LLC for Park Commons East (Excelsior & Grand)- Phase NE
EDA Resolution No. 05-03
Mr. Hunt presented the staff report.
It was motioned by Commissioner Basill, seconded by Commissioner Jacobs, to approve EDA
Resolution No.05-03 awarding the sale of, and providing the form, terms, covenants and
directions for the issuance of a $3,770,000 Taxable Tax Increment Revenue Note, Series 2005A,
for Phase NE of the Park Commons East ( Excelsior & Grand) project.
The motion passed 6-0-1. Commissioner Finkelstein abstained.
Commissioner Finkelstein asked if they would have a Trader Joe's. The applicant
declined to comment.
EDA Minutes -2- February 7, 2005
8. Communications: None
9. Adjournment
The meeting adjourned at 7:25 p.m.
Secretary President