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HomeMy WebLinkAbout2000/03/20 - ADMIN - Minutes - Economic Development Authority - RegularA(fh CITYOF ST. LOUIS PARK OFFICIAL MINUTES ECONOMIC DEVELOPMENT AUTHORITY ST. LOUIS PARK, MINNESOTA March 20, 2000 1. Call to Order President Young called the meeting to order at 7:00 p.m. 2. Roll Call The following Commissioners were present at roll call: Jim Brimeyer, Jeff Jacobs, Chris Nelson, Susan Sanger, and President Robert Young. Ron Latz arrived at 7:09 p.m. Also present were the Executive Director (Mr. Meyer); Economic Development Coordinator (Mr. Kleve); and Recording Secretary (Ms. Olson). 3. Approval of Minutes a. Approval of Economic Development Authority minutes of March 6, 2000 meeting ) Te minutes were approved as presented. 4. Approval of Agenda 4a. Approval of agenda of December 20, 1999 meeting It was moved by Commissioner Sanger, seconded by Commissioner Jacobs, to approve the agenda. The motion passed 5-0. 5. Reports Sa. EDA Financial Report It was moved by Commissioner Nelson, seconded by Commissioner Sanger, to accept the report for filing. The motion passed 5-0. Sb. Vendor Claim Report It was moved by Commissioner Jacobs, seconded by Commissioner Nelson, to accept the report for filing. The motion passed 5-0. 6. Old Business - None 7. New Business EDA Minutes -2- 7a. Mill City Tax Increment Finance District. M arch 20, 20 00 EDA Resolution No. 00-06 Mr. Kleve, Economi c Development Coordinator presented a staff report and noted the addition of a letter received from Hennepin County stating they were in favor of the TIF District. Commi ssioner Sanger asked what the rationale was for including the billboard site in TIF District and asked if including it in the TIF District would hamper future ability to remove the billboard. Mr. Kleve stated that the reason to include the billboard site was that MSP Real-estate at first felt that they may need to use that site for flood storage, but that not being the case, felt that including the site as is would make it easier to remove that billboard if another redevelopment project were to come along. He stated that if nothing happens on the billboard site for four years it will get knocked out of the district because of the rule within the law. Commi ssioner Sanger asked if the billboard site was large enough to do another project on and what was the benefit of including it at this time. Mr. Kleve stated there was not a great benefit to including it other than the potential to either remove the billboard in the future or if the development would need that additional land. He stated that it would be diffi cult to qualify that site by itself in the future and this was an opportunity to get it in. Commi ssioner Young asked if there was any opportunity for there to be any growth in increment for that parcel. Mr. Kleve stated that it was unlikely for the assessment to increase substantially. It was moved by Comm issioner Latz, seconded by Commi ssioner Brimeyer, to adopt the EDA Resolution No. 00-006 establishing the Mill City Tax Increment Financing District within Redevelopment Project No. 1 and adopting the Tax Increment Plan therefor. The motion passed 6-0. 7b. Amendment to Lease between the St. Louis Park Economic Development Authority and Stephen I Gold and Classic Cafe and Bar Mr. Kleve, Economi c Development Coordinator presented a staff report and recomm ended approval. Commi ssioner Latz questioned the rent levels and the need for a provision for increasing the rent. Mr. Kleve stated that the rent had not been discussed with Mr. Gold, but because it was going into a shorter lease this could be a negotiated item. Commi ssioner Latz questioned the status of Mr. Gold's business. Mr. Kleve indicated that from discussions with Mr. Gold that business was good. EDA Minutes -3- SCANNED March 20, 2000 It was the consensus of the Commission that a rent increase was not warranted at this time. It was moved by Commissioner Nelson, seconded by Commissioner Sanger, to change the terms of the lease dated February 2, 1999 between the St. Louis Park Economic Development Authority and Stephen I. Gold individually and dba Classic Cafe and Bar to a month to month tenancy with a 60 day notice for termination. The motion passed 6-0. 8. Communications and Bills President Young welcomed his nephew Michael Longballa to the City of St. Louis Park from Boulder, Colorado. 9. Adjournment It was moved by Commissioner Jacobs, seconded by Commissioner Sanger, to adjourn the meeting at 7:24 p.m. The motion passed 6-0. soupy )