12-21-98 Regular
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING MINUTES
Richfield, Minnesota
Regular Meeting
December 21, 1998
CALL TO ORDER
The meeting was called to order by Chair Harms at 7:00 p.m.
ROLL CALL
HRA Members
Present:Thomas Harms; Joan Helmberger; Kristal Stokes; Michael Sandahl
and Russ Susag.
Staff Present :James Prosser, Executive Director; Steven Devich, Acting City
Clerk; Bruce Palmborg, Community Development Director; and
Bruce Norquist, Housing & Redevelopment Manager.
APPROVAL OF MINUTES
M/Susag, S/Helmberger to approve the minutes of the Regular HRA Meeting of
November 16, 1998 and the minutes of the Special HRA/City Council Meeting of
November 16, 1998.
Motion carried 5-0.
Item #1OPPORTUNITY FOR CITIZENS TO ADDRESS THE HRA.
HRA Meeting Minutes-2-December 21, 1998
No one wished to address the HRA.
Item #2CONSIDERATION OF RESOLUTION REQUESTING DESIGNATING
OFFICIAL DEPOSITORIES FOR HRA OF RICHFIELD FOR 1999,
INCLUDING COLLATERAL. HRA LETTER NO. 80
M/Sandahl, S/Stokesthat the following HRA resolutions be adopted, that they be
spread in the HRA resolution book and that they be made part of these minutes:
HRA RESOLUTION NO. 696
RESOLUTION DESIGNATING THE FIRSTAR BANK A DEPOSITORY
OF FUNDS OF THE HOUSING AND REDEVELOPMENT AUTHORITY FOR
RICHFIELD FOR THE YEAR 1999 AND APPROVING COLLATERAL
HRA RESOLUTION NO. 697
RESOLUTION DESIGNATING CERTAIN FINANCIAL INSTITUTIONS
AS DEPOSITORIES FOR THE INVESTMENT OF HOUSING AND
REDEVELOPMENT AUTHORITY OF RICHFIELD FUNDS IN 1999
HRA RESOLUTION NO. 698
RESOLUTION DESIGNATING CERTAIN SAVINGS AND LOAN
ASSOCIATIONS AND BANKS AS DEPOSITORIES FOR THE INVESTMENT
OF HOUSING AND REDEVELOPMENT AUTHORITY FUNDS IN 1999
Motion carried 5-0. These resolutions appear as HRA Resolution No.’s 696, 697,
and 698 in HRA Resolution Book No. 5.
Item #3CONSIDERATION OF REQUEST BY CSM PROPERTIES, INC., FOR 60-
DAY EXTENSION TO SUBMIT PRECONDITIONS OUTLINED IN
INTERCHANGE WEST REDEVELOPMENT CONTRACT.
HRA LETTER NO. 81
Executive Director Prosser reviewed HRA Letter No. 81 regarding consideration of
request by CSM Properties, Inc. for 60 day extension to submit preconditions outlined in
Interchange West Redevelopment contract. Mr. Prosser stressed that the 60 day
extension would not push back the final date.
Executive Director Prosser stated the final date would be February 16, 1999 at
which time the developer would come back to the HRA and present the plan.
HRA Meeting Minutes-3-December 21, 1998
Murray Kornberg, CSM Corporation, made a status report to the HRA on the
Interchange West Project.
Kevin Anderson, Richfield property owner, stated that he has never received a
purchase agreement for their home.
Chair Harms stated the delay is due at least in part to the fact that a number of
homeowners do not know the financial impact of selling their homes.
There was general discussion regarding the process and timetable for purchasing
homes in the area.
Item #4CONSIDERATION OF RESOLUTION APPROVING FIRST AMENDMENT TO
CONTRACT FOR PRIVATE REDEVELOPMENT WITH GRAMERCY PARK
COOPERATIVE AT LAKE SHORE DRIVE; GRAMERCY TIF DISTRICT.
HRA LETTER NO. 82
Executive Director Prosser reviewed HRA Letter No. 82 regarding consideration of
a resolution approving first amendment to a contract for private redevelopment with
Gramercy Park Cooperative at Lake Shore Drive; Gramercy TIF District.
Commissioner Sandahl asked what the amount of TIF support requested was.
Executive Director Prosser responded that it went from $3,000,000 to $2,230,174.
Chair Harms stated that he understood that the TIF assistance was to be reduced
proportionately.
Sid Inman, Ehlers & Associates, responded that on an absolute dollar per unit
basis, the TIF increased slightly because of fixed costs. However, he stated that on a
percentage of total project cost basis, the TIF percentage is reduced slightly.
Chair Harms and Commissioner Sandahl both stated a concern that the TIF
assistance was greater than they had wished it would have been. However, that
assistance was set at a prior meeting and the issue before the HRA tonight was to deal
with an adjustment to the project, which is out of the developers control and was justified.
M/Susag, S/Sandahl that the following HRA resolution be adopted, that it be spread
in the HRA resolution book and that it be made part of these minutes:
HRA RESOLUTION NO. 699
RESOLUTION APPROVING FIRST AMENDMENT TO CONTRACT FOR PRIVATE
HRA Meeting Minutes-4-December 21, 1998
REDEVELOPMENT WITH GRAMERCY PARK COOPERATIVE
Motion carried 5-0. This resolution appears as HRA Resolution No. 699 in HRA
Resolution Book No. 5.
Item #5CONSIDERATION OF RESOLUTION DECLARING OFFICIAL INTENT OF
HRA TO ISSUE “PAY AS YOU GO” TAX INCREMENT NOTE FOR URBAN
VILLAGE AS TAX EXEMPT INCREMENT DEBT. HRA LETTER NO. 83
Executive Director Prosser reviewed HRA Letter No. 83 regarding consideration of
a request from Richfield State Agency (RSA) to issue the “pay as you go” tax increment
note for the Urban Village as tax exempt debt.
M/Sandahl, S/Helmberger that the following HRA resolution be adopted, that it be
spread in the HRA resolution book and that it be made part of these minutes:
HRA RESOLUTION NO. 700
RESOLUTION DECLARING THE OFFICIAL INTENT OF THE HOUSING AND
REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD TO
REIMBURSE CERTAIN EXPENDITURES FROM THE PROCEEDS OF BONDS TO BE
ISSUED BY THE AUTHORITY
Motion carried 5-0. This resolution appears as HRA Resolution No. 700 in HRA
Resolution Book No. 5.
Item #6EXECUTIVE DIRECTOR REPORT
None.
Item #7CLAIMS AND PAYROLL
M/Sandahl, S/Helmberger that the following claims and payrolls be approved:
FIRSTAR BANK
HRA Checks: 20216-20236; 20311-20371$653,391.10
Section 8: 13102-13198$119,707.67
HRA Meeting Minutes-5-December 21, 1998
Motion carried 5-0.
ADJOURNMENT
The meeting was adjourned by unanimous consent at 7:35 p.m.
Date Approved:
Thomas E. Harms
Chair
Steven L. DevichJames D. Prosser
Acting City ClerkExecutive Director