Loading...
HomeMy WebLinkAbout2015/05/18 - ADMIN - Minutes - Economic Development Authority - RegularAVSt. Louis Park OFFICIAL MINUTES M I N N E 5 0 T A ECONOMIC DEVELOPMENT AUTHORITY ST. LOUIS PARK, MINNESOTA MAY 18, 2015 1. Call to Order President Mavity called the meeting to order at 7:23 p.m. Commissioners present: President Anne Mavity, Tim Brausen, Steve Hallfin, Jeff Jacobs, Gregg Lindberg, Susan Sanger, and Jake Spano. Commissioners absent: None. Staff present: Executive Director (Mr. Harmening), Economic Development Coordinator (Mr. Hunt), and Recording Secretary (Ms. Hughes). 2. Roll Call 3. Approval of Minutes 3a. Economic Development Authority Meeting Minutes May 4, 2015 The minutes were approved as presented. 4. Approval of Agenda The agenda was approved as presented. 5. Reports - None 6. Old Business - None 7. New Business 7a, Authorization to Submit Applications for Environmental Grant Funds from Hennepin County ERF, DEED Cleanup, and Metropolitan Council TBRA Programs Related to The Shoreham Project. EDA Resolution No. 15-07, No. 15-08, and No. 15-09. Mr. Hunt presented the staff report and advised that the developer recently discovered that the soil is impacted with contamination including petroleum and lead as well as various materials including asphalt and concrete, which varies in thickness from 3'-15'. He stated there is also evidence of underground storage tanks and timber treated with creosote and it is anticipated that a significant amount of soil will need to be excavated to depths between 10'-20' and will require special handling and disposal. He stated the cost to clean up the site is in excess of $1.9 million and the developer is seeking contamination grants totaling approximately $1.4 million through the Metropolitan Council, Hennepin County and the DEED and all three agencies require separate a authorizing resolution indicating support of the project. He noted there are no City funds involved with the Hennepin County grant or the Metropolitan Council grant and the Economic Development Authority -2- May 18, 2015 DEED grant requires a 25% local match, which in this case is being covered by the developer and the developer plans to include those costs in its TIF application. It was moved by Commissioner Sanger, seconded by Commissioner Spano, to adopt EDA Resolution No. 15-07 Approving a Grant Application to the Department of Employment and Economic Development and Approving Local Matching Funds on behalf of The Shoreham. The motion passed 7-0. It was moved by Commissioner Hallfin, seconded by Commissioner Spano, to adopt EDA Resolution No. 15-08 Authorizing Application for the Metropolitan Council Tax Base Revitalization Account on behalf of The Shoreham. The motion passed 7-0. It was moved by Commissioner Sanger, seconded by Commissioner Brausen, to adopt EDA Resolution No. I5-09 Authorizing Application for a Grant from Hennepin County's Environmental Response Fund on behalf of The Shoreham. The motion passed 7-0. 7b. Preliminary Development Agreement between the EDA, the City, and PLACE. EDA Resolution No. 15-10. Mr. Hunt presented the staff report and stated the City was awarded a $100,000 Met Council Livable Communities Pre -Development Grant that included design work and preparation of market studies, as well as financial pro forma for the project and the appropriate next step is to enter into a Preliminary Development Agreement in order to formalize the parties' obligations with respect to father defining the project. He explained that PLACE needs formal permission to access the properties to conduct its due diligence and the Preliminary Development Agreement provides an outline for applying for land use and zoning changes and financing assistance; in addition, the Preliminary Development Agreement provides PLACE with exclusive rights to negotiate acquisition of the properties with the City in order to provide PLACE's potential funders with assurance of its ability to secure the property. He stated the Preliminary Development Agreement would terminate if a Redevelopment Contract is not approved by February 29, 2016, or sooner by mutual agreement. He noted that by approving the Preliminary Development Agreement, the EDA is agreeing to formally work with PLACE but does not agree to any particular concept plan at this time. Commissioner Sanger stated she would be voting against this and would provide her reasons during the regular City Council meeting, It was moved by Commissioner Brausen, seconded by Commissioner Spano, to adopt EDA Resolution No. 1540 Approving Preliminary Development Agreement between the St. Louis Park Economic Development Authority, the City of St. Louis Park, and PLACE. The motion passed 6-1 (Commissioner Sanger opposed). Economic Development Authority -3- May 18, 2015 S. Communications - Nome 9. Adjournment President Mavity adjourned the /n /) A t- I/) S at 7:33 p.m.