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Louis Park OFFICIAL MINUTES
M I N N E 5 0 T A ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
OCTOBER 5, 2015
1. CaII to Order
President Mavity called the meeting to order at 7:32 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 September S, 2015
The minutes were approved as presented.
4. Approval of Agenda
The agenda was approved as presented.
5. Reports
5a. Approval of EDA Disbursements
It was moved by Commissioner Jacobs, seconded by Commissioner Hallfin, to accept for
filing EDA Disbursements for the period August 29, 2015, through September 25, 2015.
The motion passed 7-0.
6. Old Business - None
7. New Business
7a. CaII for Public Hearing to Consider Establishment of the 4900 Excelsior TIF
District. EDA Resolution No. 15-19,
Mr. Hunt presented the staff report and explained that Oppidan Investment Company is
proposing a major mixed use development on the former Bally site and will incur
significant extraordinary costs with redeveloping the site and has applied for Tax
Increment Financing assistance to offset a portion of those costs to enable the project to
proceed. He stated that in order to start the TIF process, the EDA must request that the
City Council set a date and hold a public hearing for the creation of the 4900 Excelsior
TIF District.
Economic Development Authority -2- October 5, 2015
It was moved by Commissioner Brausen, seconded by Commissioner Spano, to adopt
EDA Resolution No. I5-19 Requesting the City Council of the City of St. Louis Park Call
for a Public Hearing on the Modification of Redevelopment Project No. 1 and the
Establishment of the 4900 Excelsior Tax Increment Financing District.
The motion passed 6-1 (Commissioner Sanger opposed).
8. Communications - None
9. Adjournment
President Mavity adj urned the meeting at 7:36 p.m.
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