HomeMy WebLinkAbout2023/05/01 - ADMIN - Minutes - Economic Development Authority - Regular Official minutes
EDA meeting
St. Louis Park, Minnesota
May 1, 2023
1. Call to order.
President Mohamed called the meeting to order at 6:20 p.m.
a. Roll call
Commissioners present: President Nadia Mohamed, Tim Brausen (arrived 6:23 p.m.), Sue Budd,
Lynette Dumalag, Yolanda Farris, Margaret Rog, and Jake Spano
Commissioners absent: none.
Staff present: Executive Director (Ms. Keller), Deputy Executive Director (Ms. Walsh), Economic
Development Coordinator (Mr. Hunt), Community Development Director (Ms. Barton), Housing
Program Coordinator (Ms. Larsen) City Attorney (Mr. Mattick), Senior Planner (Mr. Walther),
Housing Programs Coordinator (Ms. Olson), Communications Manager (Ms. Smith)
2. Approval of agenda
It was moved by Commissioner Budd, seconded by Commissioner Spano to approve the EDA
agenda as presented.
The motion passed 6-0 (Commissioner Brausen absent).
3. Approval of EDA minutes
a. EDA meeting minutes of April 17, 2023
It was moved by Commissioner Rog, seconded by Commissioner Brausen, to approve the EDA
meeting minutes of April 17, 2023, as presented.
The motion passed 7-0.
4. Approval of items on consent calendar - none
5. Public hearings - none
6. Regular business
a. Resolution approving the contract for private development between the city and
Project for Pride in Living (PPL)/PPL Union Park Community Limited Partnership
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Economic Development Authority -2- May 1, 2023
Mr. Hunt presented the staff report.
Commissioner Dumalag asked about the lower property tax rate approved by the state
legislature. Mr. Hunt stated there is legislation in the house and senate that would reduce from
.75% to .25%.
Commissioner Dumalag asked if the terms of the city’s deal with PPL were predicated by this or
by something else. Mr. Hunt stated if the legislature approves this, then the re - development
contract would be effective and the developer would pay the lesser of 1/3 of the amount of the
tax reduction or payment of just under $14,000, whichever is less.
Commissioner Brausen noted this project is a small subsidy compared to others given for these
deeply affordable units. He stated this is a very good investment and meets the city’s climate
action goals and the developer has agreed to meet our racial equity goals on hiring as well, adding
he is supportive of this project.
Commissioner Rog agreed as well and stated this project is an excellent example of the ben efits
of working with a non-profit developer. She added there are excellent outcomes here also with
50% affordability at 30-60% AMI and larger units for a $450,000 loan vs. TIF allocations . She
stated she is thrilled with this kind of a project and would l ike to see more of them.
Commissioner Budd added her support for the project, noting she is excited to see it moving
forward.
President Mohamed added she is overjoyed to see a 4-bedroom unit here and is very supportive
of the project as well. She added she would like to see more projects like this in St. Louis Park.
It was moved by Commissioner Dumalag, seconded by Commissioner Budd, to adopt Resolution
No. 23-12 approving the contract for private development between the city and Project for Pride
in Living (PPL)/PPL Union Park Community Limited Partnership.
The motion passed 7-0.
7. Communications and announcements – none.
8. Adjournment.
The meeting adjourned at 6:30 p.m.
______________________________________ ______________________________________
Melissa Kennedy, Secretary President Nadia Mohamed
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