HomeMy WebLinkAbout2022/07/18 - ADMIN - Minutes - Economic Development Authority - Regular Official minutes
EDA meeting
St. Louis Park, Minnesota
July 18, 2022
1. Call to order
President Rog called the meeting to order at 6:20 p.m.
1a. Roll call
Commissioners present: President Rog, Tim Brausen, Sue Budd, Lynette Dumalag, Nadia
Mohamed, and Jake Spano
Commissioners absent: Larry Kraft
Staff present: City Manager (Ms. Keller), Executive Director/Community Development Director
(Ms. Barton), City Attorney (Mr. Mattick)
2. Approval of agenda
It was moved by Commissioner Brausen, seconded by Commissioner Spano to approve the EDA
agenda as presented.
The motion passed 6-0 (Commissioner Kraft absent).
3. Approval of agenda and items on consent calendar
3a. Accept for filling EDA disbursement claims for period of May 28 through June 24,
2022.
3b. Adopt EDA Resolution approving the purchase agreement between the EDA and
North Coast Partners, LLP for acquisition of 4300 - 36 ½ St W. (This item was
removed from the consent calendar and considered as regular agenda item 6a.)
3c. Adopt EDA Resolution No. 22-34 authorizing the submission of a Metropolitan
Council Livable Communities Demonstration Account (LCDA) grant application on
behalf of the Wooddale Station development.
It was moved by Commissioner Brausen, seconded by Commissioner Dumalag, to
approve the items on the consent calendar as amended.
The motion passed 6-0 (Commissioner Kraft absent).
4. Approval of EDA minutes - none
5. Unfinished business - none
6. New business
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Economic Development Authority -2- July 18, 2022
a. Adopt EDA Resolution approving the purchase agreement between the EDA
and North Coast Partners, LLP for acquisition of 4300 - 36½ St. W. EDA
Resolution No. 22-35
Ms. Barton gave a brief overview of the purchase agreement.
Commissioner Brausen noted this is a significant step we will take as a community. He
stated the intention is to be able to help folks build small businesses in a supportive
environment, through the city acquiring this favorable piece of property. He stated he is
in favor of this resolution and given the cost of $1.8 million and another $1 million post
purchase price to develop, he felt it was necessary to publicly discuss this in the interest
of transparency. He stated it is a worthy use of the city’s development fund, adding this
is a pilot program which will be investigated at this point .
Commissioner Budd stated she looked at some of the other developments this
organization has done, and it is very encouraging to see the work they have done with
BIPOC communities, assisting with low entry points for businesses, and it fits with the
city’s priorities well.
President Rog added the city will apply for a grant of $400,000 to support this project.
She asked when the city might hear back on this, and the competitive nature of the
grant process. Ms. Barton stated this is a loan from Hennepin County, which the city had
applied for to help with clean-up and rehab of the building, adding they will apply for
additional grants as well.
It was moved by Commissioner Brausen, seconded by Commissioner Mohamed, to adopt
EDA Resolution No. 22-35 approving the purchase agreement between the EDA and
North Coast Partners, LLP for acquisition of 4300 – 36th St. W.
The motion passed 6-0 (Commissioner Kraft absent).
7. Communications – none
8. Adjournment
The meeting adjourned at 6:28 p.m.
______________________________________ ______________________________________
Melissa Kennedy, secretary Margaret Rog, president
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