HomeMy WebLinkAbout24-04 - ADMIN Resolution - Economic Development Authority - 2024/02/20
EDA Resolution No. 24-04
Supporting an application for a Hennepin County TOC grant
submitted by Sherman Associates for the Beltline Station
Development
Whereas, the City of St. Louis Park acknowledges the Hennepin County Housing and
Redevelopment Authority (the “HCHRA”) has authorized approximately $2.2 million from the
Transit Oriented Community (TOC) program be available for transit-oriented projects; and
Whereas, proposed housing or redevelopment projects undertaken by the HCHRA
pursuant to authority established at Minnesota Statutes, Section 383B.77, subdivision 3 (the
"statute”) require approval of the local governing body where the project(s) will be located; and
Whereas, Beltline Station Limited Partnership, a Minnesota limited partnership, or
another affiliate of Sherman Associates (the “developer”) submitted an application for Beltline
Station redevelopment requesting grant funds from the Hennepin County TOC program
through the coordinated RFP; and
Whereas, the grant funds will be used for certain public improvement costs associated
with the Beltline Station redevelopment project at 4601 Highway 7, 4725 Highway 7 and 3130
Monterey Drive in the City of St. Louis Park (the “project”); and
Whereas, the HCHRA TOC program guidelines and the statute require support by the
governing body of the City of St. Louis Park for submission of a grant application to the HCHRA
TOC; and
Now, therefore, be it resolved that the City of St. Louis Park, in accordance with
Minnesota Statutes 383B.77, subd. 3., supports the submission of an AHIF grant application to
the Hennepin County AHIF by the developer for the project.
Reviewed for Administration: Adopted by the economic development
authority February 20, 2024
Karen Barton, executive director Lynette Dumalag, president
Attest
Melissa Kennedy, secretary
DocuSign Envelope ID: C325F4FD-4FAD-4D91-80BA-D5E69ECE46FB