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Home My WebLink About1998/06/15 - ADMIN - Minutes - Economic Development Authority - RegularA(fhCITYOF ST. LOUIS PARK 3CANNE OFFICIAL MINUTES ECONOMIC DEVELOPMENT AUTHORITY ST . L O UI S PARK , MINNE SO TA June 15, 1998 1. Call to Order President Jeff Ja cobs called the meeting to order at 7:00 p.m . 2. Roll Call I T The fo llowin g Commi ssioners w ere present at ro ll call ; President Jeff Jacobs, Chri s Nelson, Sue San ger, Ron Latz, Robert Young, Jim Brim eyer and Gail Dorfm an. Al so present were the Executive Director (Mr. M eyer); City Attorney (Mr. Scott); Director of Comm unity D evelopm ent (Mr. Harm enin g); and Economi c Development Coordinator (Mr. An derson). 3. Approval of minutes of June 2, 1998 meeting The min utes w ere appro ved as presented. ] 4. Approval of agenda of June 15, 1998 meeting ) It w as m oved by Commi ssioner Young, seconded by Commi ssioner Sanger to approve the agenda. The m otion passed 7-0. 5. Reports - None 6. Old Business - None 7. New Business 7a. Approval of Commercial Rehabilitation Loan for Lincoln Baking Company M ayor Dorfin an asked what w ould happen to the city if the project were approved and for som e reason the DTE D gran t was not received. Mr . An derson suggested that a contingency coul d be applied to the appro val, but did not feel it necessary due to the requirem ents of the DTE D . It w as m oved by Commi ssioner San ger, seconded by Commi ssioner Brim eyer to approve a comm ercial rehabilitation loan in the am ount of $50,000 in part icipation wi th Century Bank an d authoriz e the President an d Executive Director to enter into a Parti cipation Agreement •. ) wi th Centu ry Bank fo r the financing of the Lin coln Bakin g Company renovation project . aw# The motion passed 7-0. 7b. Resolution Regarding Victoria Ponds Redevelopment Tax Increment Financing District Contribution for Public Trails. It was moved by Commi ssioner Latz, seconded by Commi ssioner Young to adopt a Resolution authorizin g the design and construction of the City of St. Louis Park Improvement Project No. 98-09 and the contribution of tax increment funds to assist in the financing of said project. The motion passed 7-0. 8. Communications and Bills a. Vendor Claims It was moved by Commi ssioner Nelson, seconded by Commi ssioner Sanger, to approve and authorize payment. The motion passed 7-0. 9. Adjournment It was moved by Commi ssioner Nelson, seconded by Commi ssioner Latz, to adjourn the meeting at 7:04 p.m. The motion passed 7-0.