HomeMy WebLinkAbout2017/12/04 - ADMIN - Minutes - Economic Development Authority - RegularIffSt. Louis Park OFFICIAL MINUTES
M I N N E S O T A ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
DECEMBER 4, 201.7
1. Call to Order
President Mavity called the meeting to order at 7:25 p.m.
Commissioners present: President Anne Mavity, Tim Brausen, Steve Hallfin, Gregg Lindberg,
Thom Miller, Susan Sanger, and Jake Spano.
Commissioners absent: None.
Staff present: Executive Director (Mr. Harmening), Chief Financial Officer (Mr. Simon),
Economic Development Coordinator (Mr. Hunt), Chief Information Officer (Mr. Pires),
Community Development Director (Ms. Barton), City Attorney (Mr. Mattick), Deputy City
Manager/Human Resources Director (Ms. Deno), Communications Manager (Ms. Larson), and
Recording Secretary (Ms. Pappas).
2. Roll Call
3. Approval of Minutes
3a. Economic Development Authority Meeting Minutes November 6, 2017
It was moved by Commissioner Miller, seconded by Commissioner Brausen, to approve
the EVA minutes as presented.
The motion passed 7-0.
4. Approval of Agenda
It was moved by Commissioner Brausen, seconded by Commissioner Lindberg, to
approve the EDA agenda as presented.
The motion passed 7-0.
5. Reports
5a. Approval of EDA Disbursements
It was moved by Commissioner Sanger, seconded by Commissioner Brausen, to approve
the EDA Disbursements.
The motion passed 7-0.
6. Old Business - None
7. New Business
Economic Development Authority -2- December 4, 2017
7a. Elmwood Village Tax Increment District Interfund Loan. EDA Resolution
No. 17-22
Mr. Simon presented the staff report. He stated that during the annual tax increment
management review with Ehlers on October 23, 2017, one of the recommendations was
to adopt a new interfund loan of up to $7,000,000 to fund several projects in the Capital
Improvement Plan with the Elmwood Village Tax Increment Revenues from the overall
legal pooling amount.
It was moved by Commissioner Brausen, seconded by Commissioner Spano, to waive the
reading and adopt EDA Resolution No. 17-22, for advance of certain costs in connection
with the Elmwood Village Tax .Increment Financing District.
The motion passed 6-1 (Commissioner Miller opposed)
7b. Purchase Agreement for 5639 Minnetonka Blvd. EDA Resolution No. 17-23
Ms. Grove presented the staff report. At the October 23, 2017, study session, the EDA
provided consensus support for acquiring a bank -owned property located at 5639
Minnetonka Blvd. Since that time, the property was placed on auction, and staff
successfully placed the highest bid for the property at $136,000. Staff subsequently
negotiated a proposed purchase agreement for the property, the terms of which were
provided at the November 27 study session. The proposed agreement has been reviewed
by EDA's legal counsel.
Ms. Grove stated that upon acquisition, staff will have the property secured and work to
facilitate redevelopment of the property, along with the three adjacent properties to the
west, to expand the city's housing stock and affordable housing. She noted that the
property is zoned R4, medium -density multi -family residential. Staff believes this
location provides an opportunity to incorporate non-traditional housing options such as
row homes or townhomes. The closing will be held two weeks from today.
Commissioner Sanger asked if the city would like to purchase one or more of the three
remaining properties, as well. Ms. Barton stated yes, and having the one would allow
staff to redirect purchase of the others, as well.
Commissioner Miller noted that with the city owning this property, it gives some control
of parcels zoned R4. He added that he would, however, like to see the lowest possible
density project for R4, especially since it abuts to many single-family houses in the area.
He thanked staff for purchasing this property.
Commissioner Brausen added that he supports this resolution to purchase the home,
adding that it will allow the city some control as to how it is developed. He would like
there to be consideration for a senior housing development in this location. He added that
he is not opposed to a higher density project, especially if the project involves senior
housing.
President Mavity stated that she supports creative development here and does not support
the lowest density on the site.
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December 4, 2017
Commissioner Miller clarified that when he stated the lowest possible density, he was
referring to density that R4 zoning recommends.
,It was moved by Commissioner Sanger, seconded by Commissioner Spano, to waive the
reading and adopt EDA Resolution No. 17-23, approving the Purchase Agreement
between the EDA and Carrington Mortgage Services, LLC for 5639 Minnetonka Blvd
and authorize the Executive Director to execute the documents necessary to complete the
real estate transaction.
The motion passed 7-0.
S. Communications - None
9. Adjournment
The meeting adjourned at 7:35 p.m.
Anne Mavity, President
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