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HomeMy WebLinkAbout2000/01/03 - ADMIN - Minutes - Economic Development Authority - Regular5 I A~CITYOF ST LOUIS PARK OFFICIAL MINUTES ECONOMIC DEVELOPMENT AUTHORITY ST. LOUIS PARK, MINNESOTA January 3, 2000 1. Call to Order President Y oung called the meeting to order at 7:25 p.m. 2. Roll Call The fo llow ing Com m issioners w ere present at ro ll call: Jim Brim eyer, Jeff Jacobs, Ron Latz, Chris N elson, Susan Sanger, Sue Santa, and President Robert Young. Al so present w ere the Executive D irector (M r. M eyer); Econom ic D evelopm ent Coordinator (M r. K leve); and Recording Secretary (M s. Ol son). 3. Approval of Minutes a. Approval of Economic Development Authority minutes of December 20, 1999 meeting The m inutes w ere appro ved as presented. 4. Approval of Agenda 4a. Approval of agenda of January 3, 2000 meeting It w as m oved by Com m issioner N elson, seconded by Com m issioner Ja cobs, to approve the agenda. The m otion passed 7-0. 5. Reports 5a. Vendor Claim Report It w as m oved by Com m issioner N elson, seconded by Com m issioner Jacobs, to accept the report fo r filing. The m otion passed 7-0. 6. Old Business - None 7. New Business 7a. Amendment to Redevelopment Agreement to Cure Default of Park Land Company M r. K leve, Econom ic D evelopm ent Coordinator, presented a staff report and recom mended appro val of the extension subject to Park Land Company reim bursing all the costs associated w ith both of the extensions. EDA Minutes -2- January 3, 2000 Commissioner Brimeyer asked what the costs were. Mr. Kleve indicated that the costs were mostly the legal costs to actually development the amendment. Commissioner Brimeyer asked if the project could be completed with the late start date. Mr. Kleve indicated that the project could be completed by the required date. Commissioner Brimeyer questioned the construction schedule and desired to see the project move along. Kyle Hegna, Wilkerson & Hegna, representative of Park Land Company was present. Commissioner Nelson asked what constituted minimum improvements to stop the clock and meet the requirements. Mr. Kleve indicated that staff would consider the actual demolition the commencement of minimum improvements. Commissioner Nelson asked if staff had talked to the lender to verify progress is being made toward loan commitment. Mr. Kleve indicated that he had spoken to the lender and that 50% of the loan has been improved by TJ&W Residential. Commissioner Nelson asked if Park Land had title to the property. Mr. Hegna stated that they did not have title yet, but didn't anticipate any problem in purchasing the property and that the financing would be secured soon. Commissioner Sanger also desired to see the project move along. She recommended an amendment to the resolution stating that this would be the final extension granted and there will be no additional requests entertained. Commissioner Nelson believed the amendment should not be included in the motion so the City's hands were not tied and the fact that the deadline could be modified at a later date. It was moved by Commissioner Nelson, seconded by Commissioner Latz, to approve the amendment of the EDA contract with Park land Company changing the required date for the commencement of Minimum Improvements from December 15, 1999 to July 1, 2000 subject to Park Land Company reimbursing the EDA for its legal expenses associated with the extensions. It was moved by Commissioner Sanger, seconded by Commissioner Brimeyer, to amend the motion to add that no additional extensions be granted for this contract for private redevelopment. Mr. Meyer, City Manager indicated that from a legal standpoint, the proposed amendment was not the best idea because it would tend to restrict the Council if at some point the Council wanted to grant an extension. EDA Minutes -3- January 3, 2000 J j Commissioner Latz stated he didn't see a reason to set a deadline ahead of time because it appeared that the hold up had to do with the environmental concerns which was not an unusual situation St. Louis Park and was out of the control of the developer. President Young was opposed to the amendment and hoped that Mr. Hegna would convey the message to the developer that the EDA was not happy with the delay and were reaching the end of their patience. Commissioner Santa concurred with President Young. Commissioner Sanger withdrew the amendment since the its intent was to send the message that was stated by President Young. Commissioner Brimeyer concurred. The motion passed 6-0-1. Mayor Jacobs abstained. 8. Communications and Bills - None 9. Adjournment It was moved by Commissioner Jacobs, seconded by Commissioner Santa, to adjourn the meeting at 7:35 p.m. The motion passed 7-0, y ) ) seerea ry ' cs<P resident '