HomeMy WebLinkAbout1998/12/21 - ADMIN - Minutes - Economic Development Authority - RegularSCANNE
AUhCITYOF
ST. LOUIS
PARK
OFFICIAL MINUTES
ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
December 21, 1998
1. Call to Order
President Jacobs called the meeting to order at 7: 10 p.m.
2. Roll Call
The followin g Commi ssioners were present at roll call: Jeff Jacobs, Chri s Nelson, Ron Latz,
Robert Young, and Jim Brim eyer.
Sue San ger arri ved at 7: 12 p.m.
Also present were the Deputy City M anager (Mr. Pires); Finance Director (M s. M cBride);
onomi c Development Coordinator (Mr. An derson); and Director of Comm unity Development
Harm ening).
3. Approval of minutes of December 7, 1998 meeting
With a mi nor correction, the mi nutes were approved as presented.
Approval of agenda
4a. Approval of agenda of December 21, 1998 meeting
It was moved by Commi ssioner Nelson, seconded by Commi ssioner Young, to approve the
agenda. The motion passed 6-0.
4.
4b. Approval of consent agenda of December 21, 1998 meeting
It was moved by Commi ssioner Nelson, seconded by Commi ssioner Brim eyer, to approve the
consent agenda. The motion passed 6-0.
5. Reports
Sa. Vendor Claims
By consent, the Commi ssion received the report for filin g.
6. Old Business - None
7. New Business
7a. Purchase of Commercial Property at 4504 Excelsior Boulevard (Westco
Property).
Mr. An derson, Economi c Development Coordinator presented a staff report.
, ) Commi ssioner Nelson asked if the current renter desired to continue renting.
Mr . Anderson indicated that the current renter had located another building in St. Louis Park.
Commissioner Sanger asked why the building was being purchased if it actually wasn't needed at
this time.
Mr . Anderson stated that the reason was that the potential for someone else being in the market
wanting to purchase the property would be slim and the opportunity to purchase the building was
timely from the property owners perspective because they were moving to a new building and the
area had plans for redevelopment.
Commissioner Nelson asked how the amount of the lease payment was determined.
Mr . Anderson stated that this particular lease rate was an amount that was negotiated with the
existing tenant who wanted to stay there until the month that they moved, therefore staff used a
rental rate in the area to determine an amount that would cover the City's operating expenses.
Commissioner Nelson asked if the date of termination of the lease was the end of March.
Mr . Anderson stated that this was the case, and if for some unknown reason the property owner
came back to staff, new terms would be negotiated.
It was moved by Commissioner Nelson, seconded by Councilmember Brimeyer, to authorize the
President and Executive Director to enter into a purchase agreement for the property at 4505
Excelsior Boulevard and to execute all necessary documents to complete the acquisition. The
motion passed 6-0.
7b. Additional Discussion on the 1999 Proposed Budget: Park Commons and
other activity contemplated within the Excelsior Boulevard District
Commissioner Brimeyer asked staff for clarification of budget items and debt service transfers.
He asked if this item would be discussed again at future study session. Ms. McBride stated that a
complete packet would be presented to the Commissioners for the January 4, 1998 meeting for
discussion and approval. Commissioner Sanger was concerned about the amount of additions and
change orders to the Wolfe Park project that increased the budget considerably. The Commission
received the report for filing.
8. Communications - None
9. Adjournment
It was moved by Commissioner Nelson, seconded by Commissioner Sanger, to adjourn the
meeting at 7:25 p.m. The motion passed 6-0.
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