HomeMy WebLinkAbout2000/04/17 - ADMIN - Minutes - Economic Development Authority - RegularA~CITYOF
ST. LOUIS
PARK
OFFICIAL MINUTES
ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
April 17, 2000
1. Call to Order
President Young called the meeting to order at 7:20 p.m.
2. Roll Call
The following Commi ssioners were present at roll call: Jim Brimeyer, Ron Latz, Jeff Jacobs,
Chris Nelson, Susan Sanger, Sue Santa, and President Robert Young.
Also present were the Executive Director (Mr. Meyer); Economic Development Coordinator
(Mr. K leve); and Recording Secretary (Ms. Olson).
3. Approval of Minutes
a. Approval of Economic Development Authority minutes of April 3, 2000
meeting
The minutes were approved as presented.
) 4. Approval of Agenda
4a. Approval of agenda of April 17, 2000 meeting
It was moved by Commi ssioner Jacobs, seconded by Commi ssioner Latz, to approve the agenda.
The motion passed 7-0.
5. Reports
Sa. Vendor Claim Report
It was moved by Comm issioner Jacobs, seconded by Comm issioner Latz, to accept the report for
filing. The motion passed 7-0.
6. Old Business - None
7. New Business
7a. Approval of Assignment of the Redevelopment Agreement from Park Land
Company to another related legal entity in relation to its redevelopment
project at 5101 Minnetonka Boulevard
Mr. Kleve, Economic Development Director presented a staff report.
President Young asked for an update on the financing plan.
Mr. Kleve gave a brief update and indicated that financing will hopefully be secured in the next
few weeks.
EDA Meeting Minutes -2- April 17, 2000
Commi ssioner Nelson asked which lender was requiring the change to the single asset entity.
Mr. Kleve indicated that Kinard was requiring the change.
Commi ssioner Sanger asked if this would require an amendment of the approvals from DTED
and Met Council on the environmental clean-up grants.
Mr. Kleve stated that the environmental clean-up grants do not specifically reference Park Land
Company rather the address so the current agreement would be suffi cient.
It was moved by Commi ssioner Nelson, seconded by Commi ssioner Brimeyer, to consent to the
assignment and assumption of the Contract for Private Development between Park Land
Company and the St. Louis Park EDA to Fem Hill Place, LLC. The motion passed 6-0-1.
Commi ssioner Jacobs abstained.
8. Communications and Bills - None
9. Adjournment
It was moved by Commi ssioner Jacobs, seconded by Commi ssioner Santa, to adjourn the
meeting at 7:25 p.m. The motion passed 7-0.
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