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HomeMy WebLinkAbout2000/09/18 - ADMIN - Minutes - Economic Development Authority - RegularArth CITY O F ST. LO UIS PARK OFFICIAL MINUTES ECONOMIC DEVELOPMENT AUTHORITY ST. LOUIS PARK, MINNESOTA September 18, 2000 1. Call to Order President Young called the meeting to order at 7: 15 p.m. 2. Roll Call ) The following Commissioners were present at roll call:, Jeff Jacobs, Chris Nelson, Susan Sanger, and President Robert Young. Ron Latz arrived at 7:20 p.m. Also present were the Deputy City Manager (Mr. Pires); Economic Development Coordinator (Mr. Kleve); Director of Finance (Ms. McGann); and Recording Secretary (Ms. Olson). 3. Approval of Minutes a. Approval of Economic Development Authority minutes of September 5, 2000 meeting The minutes were approved as presented. 4. Approval of Agenda 4a. Approval of agenda of September 18, 2000 meeting It was moved by Commissioner Jacobs, seconded by Commissioner Nelson, to approve the agenda. The motion passed 4-0. 5. Reports Sa. Vendor Claim Report It was moved by Commissioner Jacobs, seconded by Commissioner Nelson, to accept the report for filing. The motion passed 4-0. Sb. Economic Development Authority Financial Report It was moved by Commissioner Sanger, seconded by Commissioner Jacobs, to accept the report for filing. The motion passed 4-0. 6. Old Business - None 7. New Business 7a. CSM TIF Note EDA Resolution No.'s 00-10 and 00-11 EDA M eeting M inutes -2- September 18, 2000 Mr. Kleve, Economi c Development Coordinator presented a staff report and recomm ended approval. Councilmember Sanger asked if the resolutions were approved by the City Attorney. Mr. Kleve, Economi c Development Coordinator stated that the resolutions had been approved by the City Attorney. It was moved by Councilmember Sanger, seconded by Councilmember Nelson, to approve EDA Resolution No. 00-10 awarding the Sale of, and providing the Form, Terms, Covenants, and Directions for the Issuance of its $1,448,088 Tax Increment Revenue Note, Series 2000A (Springhill Suites project) and EDA Resolution No. 00-11 awarding $1,10 1,362 Tax Increment Revenue Notes, Series 2000B (Townplace Suites project). The motion passed 4-0. 7b. Approval of the Preliminary 2001 Budget and 2000 Revised Budget It was moved by Councilmember Jacobs, seconded by Councilmember Nelson, to approve the prelimi nary 2001 budget and revised 2000 budget. The motion passed 4-0. 7c. Resolution to Commence Eminent Domain Proceedings on Two properties in the Park Commons East Redevelopment Area, 4500 and 4510 Excelsior Blvd. EDA Resolution No. 00-12 Mr. Kleve, Economi c Development Coordinator presented a staff report and recomm ended approval. Councilmember Jacobs asked if the properties were going to be acquired by quick take or by regular emi nent domain. Mr. Kleve stated that staff would proceed with quick take with the option to go to slow take if that was required. He stated that staff would provide a report to the EDA. Councilmember Nelson asked what the appraised value of the properties were. Mr. Kleve stated the appraised value of the property at 4500 Excelsior Boulevard was $305,000 and appraised value of the property at 4510 Excelsior Boulevard was $450,000. He recomm ended that this issue be discussed at a City Council Executive Session. It was moved by Councilmember Jacobs, seconded by Councilmember Latz, to adopt EDA Resolution No. 00-12 authorizing Emi nent Domain Proceedings to acquire certain real property located at 4500 and 4510 Excelsior Boulevard. The motion passed 5-0. 7d. Approval of Department of Trade and Economic Development (DTED) Resolution to allow the EDA to submit a grant application for funds to help pay for the remaining demolition in the Park Commons East Redevelopment area. EDA Resolution No. 00-13. EDA Resolution No. 00-13 Mr. Kleve, Economi c Development Coordinator presented a staff report and recomm ended approval. EDA M eeting M inutes -3- September 18, 2000 It was moved by Councilmember Nelson, seconded by Councilmember Sanger, to adopt EDA Resolution No. 00-13 approving DTED Redevelopment Grant Application submittal. The motion passed 5-0. 8. Communications and Bills - None 9. Adjournment It was moved by Commissioner Jacobs, seconded by Commissioner Latz, to adjourn the meeting at 7:26 p.m. The motion passed 5-0. President / )