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HomeMy WebLinkAbout2018/08/06 - ADMIN - Minutes - Economic Development Authority - Regular�,�St. Louis Park Official minutes MINNESOTA Economic development authority St. Louis Park, Minnesota August 6, 2018 1. Call to order President Hallfin called the meeting to order at 7:20 p.m. Commissioners present: President Steve Hallfin, Tim Brausen, Rachel Harris, Anne Mavity, Thom Miller, Margaret Rog, and Jake Spano. Commissioners absent: None. Staff present: Executive Director (Mr. Harmening), Economic Development Coordinator (Mr. Hunt), Community Development Director (Ms. Barton), City Attorney (Mr. Mattick), Deputy City Manager/Human Resources Director (Ms. Deno), Planner (Ms. Monson), Engineering Director (Ms. Heiser), Management Assistant (Ms. Carrillo Perez), Sr. Engineering Project Manager (Mr. Sullivan), Transportation Engineer (Mr. Manibog), and Recording Secretary (Ms. Pappas). 2. Roll call Approval of minutes - none 4. Approval of agenda and items on EDA consent calendar 4a. Accept for filing EDA disbursement claims for the period of June 30 through July 27, 2018. 4b. Adopt EDA Resolution No. 18-06 approving the assignment and subordination of redevelopment contract between the EDA, Union Land II, LLC and Dougherty Mortgage LLC relative to the Hoigaard Village redevelopment project. It was moved by Commissioner Brousen, seconded by Commissioner Sponc, to approve the EDA agenda as presented and the items on the consent calendar. The motion passed 7-0. S. Reports - none 6. Old Business - none New business 7a. Purchase and redevelopment contract with SLP Park Ventures, LLC. Resolution No. 18-07. Mr. Hunt presented the staff report. Economic Development Authority -2- August 6, 2018 Commissioner Brausen stated this represents year's worth of work on the part of the council, searching for the right development on this site. He noted this TIF will be a loan that will provide investment of a $30 million tax base property. It was moved by Commissioner Brausen, seconded by Commissioner Spano, to waive the reading and adopt EDA Resolution No. 18-07, approving the purchase and redevelopment contract between the EDA and SLP Park Ventures, LLC. The motion passed 7-0. 7b. Establishment of the Bridgewater Bank Tax Increment Financing District. Resolution No. 18-08, Resolution No. 18-09, and Resolution No. 18-10. Mr. Hunt presented the staff report. Commissioner Mavity recused herself from all Bridgewater discussion and votes. It was moved by Commissioner Brausen, seconded by Commissioner Miller, to waive the reading and adopt EDA Resolution No. 18-08, approving the elimination of a parcel from the Park Commons tax increment financing district, Resolution No. 18-09, approving the establishment of the Bridgewater Bank Tax Increment Financing District, and Resolution No. 18-10, authorizing an interfund loan for advance of certain costs in connection with the administration of the Bridgewater Bank TIF district. The motion passed 6-0-1 (Commissioner Mavity abstained). 7c. Purchase and redevelopment contract with Bridgewater Bank and Bridgewater Bancshares. Resolution No. 18-11. Mr. Hunt presented the staff report. It was moved by Commissioner Spano, seconded by Commissioner Brausen, to waive the reading and adopt EDA Resolution No. 18-11, approving the Purchase and Redevelopment Contract between the EDA and Bridgewater Bank and Bridgewater Bancshares. The motion passed 6-0-1 (Commissioner Mavity abstained). 7d. Metropolitan Council livable communities demonstration account grant application- Bridgewater Bank. Resolution No. 18-12. Mr. Hunt presented the staff report. Economic Development Authority -3- August 6, 2018 ( It was moved by Commissioner Miller, seconded by Commissioner Brausen, to waive the reading and adopt EDA Resolution No. 18-12, authorizing the submission of a livable communities demonstration account grant application to the Metropolitan Council for the Bridgewater Bank Corporate Center project. The motion passed 5-0-1 (Commissioner Mavity abstained). 8. Communications - none 9. Adjournment The meeting adjourned at 7:35 p.m.