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HomeMy WebLinkAbout1996/01/16 - ADMIN - Minutes - Economic Development Authority - Regular% 834'pr too. fh; as5 s ) I MINUTES ECONOMIC DEVELOPMENT AUTHORITY ST. LOUIS PARK, MINNESOTA January 16, 1996 1. Call to order Vice-president Jacobs called the meeting to order at 7:00 p.m. 2. Roll call The followi ng Commi ssioners were present at roll call: Robert Young, Gail Dorfm an, Jim Brimeyer and Jeff Jacobs. Al so present were the Executive Director (Mr . Meyer); EDA Attorney (Mr . Steilen); Dir. of Comm unity Development (Mr . Harm ening) and Economic Development Coordinator (Mr . An derson). 3. Approval of minutes of January 2, 1996 meeting It was moved by Commi ssioner Dorfm an , seconded by Commi ssioner Young, to approve the ) mi nutes. The motion passed 4-0. (Mr . Young noted he was not present at that meeting). ) 4 . Approval of agenda for January 16, 1996 It was moved by Commi ssioner Dorfm an, seconded by Commi ssioner Young, to approve the agenda for January 16. The motion passed 4-0. 5. Reports 5a/5b. Request public heari ng for creation of TIF District and expanded project area and accept final TIF application and authorize negotiation of a Redevelopment Agreement - Victoria Ponds Resolution EDA 96-01 Mr . An derson reviewed staff's report. The applicant is requesting TIF assistance to wri te down the soil and environm ental remediation costs of the development. Councilmember Dorfm an asked, in terms of the project area, at what point will that need to be finalized. Mr . Harm ening responded a final decision on modifications to the project area need not be made tonight; however, it will need to be done at the EDA meeting on February 5. 1 Conrad Posz, 9307 W. 23rd St. and Frederick Porter, 9255 W. 23rd St., addressed the Authority to express their opposition to this request. Mr . Posz gave a detailed history of the property, focusing on the soil conditions. In considering a TIF District, he said the EDA/City Council must answer three questions: (1) What project is to be financed? (It has not yet been determined); (2) What public good is to be served? (Not yet determined); (3) Why is public financing necessary (Has not heard any discussion on this item). Mr . Porter discussed City ordinances and State Statutes and their potential effect on this proposal. Commissioner Young said he appreciated the comments and input from Mr . Posz and Mr . Porter. He wanted the Authority to go forward with this proposal with the idea that answers are received from staff to the questions raised. It was moved by Commissioner Young, seconded by Commissioner Dorfman, to adopt resolution EDA 96-01 entitled "Resolution of the Economic Development Authority of the City of St. Louis Park, MN requesting the City Council of the City of St. Louis Park to call for a public hearing on the modification of the redevelopment plan for the establishment of the Victoria Ponds Tax Increment Financing District (a redevelopment district)." The motion passed 4-0. It was moved by Commissioner Dorfinan, seconded by Commissioner Young, to authorize negotiation of a Redevelopment Agreement - Victoria Ponds. The motion passed 4-0. c. Approve Development Fund Policy Mr . Meyer said the purpose of the Development Fund is to set aside funds that have been generated through tax increment districts and set forth a Policy by which the EDA would be able to utilize these funds. He noted a couple of minor changes and asked that they be incorporated into the Policy. Mr . Steilen said it was important that the Authority keep track of the source of all funds because there is some ambiguity in the law. Currently the City can spend money on a wide variety of things, the EDA can spend money on a much smaller definition of things, tax increment can be spent on an even smaller definition of things and certain grants can be spent on an even smaller definition of things. Careful track must be kept of all expenditures. State Statute says not only is tax increment subject to restrictions, but also any revenues derived from tax increment. It was moved by Commissioner Dorfinan, seconded by Commissioner Young, to approve the Development Fund Policy. The motion passed 4-0. 6. New business None 7. Old business None 8. Communications and bills a. Vendor claims 2 , I It was m oved by Commi ssioner Dorfin an , seconded by Commi ssioner Young, to approve and authoriz e paym ent. The motion passed 4-0. 9. A djournm ent The meeting adjourn ed at 7:27 p.m . on a motion by Commi ssioner Young, seconded by Commi ssioner D orfin an w hi ch passed 4-0. ) Ab A iala Do.'eh, ,.E xecutive 5%a."° 's ® ®v 3