HomeMy WebLinkAbout2002/04/15 - ADMIN - Minutes - Economic Development Authority - RegularAUh CITYOF
ST. LOUIS
PARK
OFFICIAL MINUTES
ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
April 15, 2002
1. Call to Order
President Sanger called the meeting to order at 7: 17 p.m.
2. Roll Call
The following Commissioners were present at roll call: Jim Brimeyer, Ron Latz, Chris
Nelson, Sue Santa, Sally Velick, and President Susan Sanger.
Commissioner Jeff Jacobs was absent.
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Also present were the City Manager (Mr. Meyer); City Attorney (Mr. Scott); Director of
Community Development (Mr. Harmening); Economic Development Coordinator (Mr.
Hunt); and Recording Secretary (Ms. Samson).
3. Approval of Minutes
3a. Economic Development Authority Minutes of March 4, 2002
It was moved by Commissioner Latz, seconded by Commissioner Santa, to approve the
minutes as presented.
The motion passed 6-0.
4. Approval of Agenda
4a. Agenda
It was moved by Commissioner Nelson, seconded by Commissioner Santa, to approve the
agenda.
The motion passed 6-0.
5. Reports
Sa. Vendor Claims
It was moved by Commissioner Nelson, seconded by Commissioner Santa, to approve
vendor claims.
6.
The motion passed 6-0.
Old Business--None
EDA Minutes -2- April 15,2002
7. New Business
7a. Consideration of a Preliminary Development Agreement with United Properties
for the development of the southwest corner of Hwy 7 and Louisiana A venue.
Greg Hunt, Economic Development Coordinator, said Staff and EDA legal counsel of
Kennedy & Graven have completed negotiations with United Properties, and the part ies
have agreed to the Preliminary Development Agreement.
Mr. Hunt said the primary points of the Preliminary Development Agreement are that
United Properties has exclusive development rights to the property, the term of the
agreement is four months, and upon execution, the developer must deposit $10,000 with
the authority to pay any out-of-pocket costs that the authority may incur during the due
diligence period. When the developer files a formal TIF or abatement application, the
developer will be required to file a $2,000 non-refundable fee with the authority.
It was moved by Commissioner Latz, seconded by Commissioner Santa, to authorize the
President and Executive Director to execute the Preliminary Development Agreement with
United Properties for the development of the southwest comer of Hwy 7 and Louisiana
Avenue.
The motion passed 6-0.
8. Communications and Bills--None
9. Adjournment
President Sanger adjourned the meeting at 7:22 p.m.
lulu=-
Secretary President