08-18-03 Regular
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING MINUTES
Richfield, Minnesota
Regular Meeting
August 18, 2003
The meeting was called to order by Chair Harms at 7:00 p.m.
HRA Members
Present:
Thomas Harms; Joan Heimberger; and Dan Linnihan.
HRA Members
Not Present:
Kristal Stokes; and Michael Sandahl.
Staff Present:
Steve Devich, Acting Executive Director; Bruce Palmborg, Community
Development Director; John Stark, Community Development Manager;
Chris Regis, Finance Manager; Nancy Gibbs, City Clerk; and John Dean,
HRA Attorney.
Item #1
M/Harms, S/Linnihan to approve the minutes of (1) Reoular HRA Meetino on June 16.
2003: (2) Concurrent Special HRAlCitv Council Meetino of Julv 8. 2003; and (3) Special HRA
Meetino of Auoust 4. 2003.
Motion carried 3-0.
Item #2
M/Linnihan, S/Harms to approve the aoenda.
HRA Meeting Minutes
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August 18,2003
Motion carried 3-0.
Item #3
A. Approved resolution amending HRA by-laws S.R. No. 45
HRA RESOLUTION NO. 899
RESOLUTION AMENDING THE BYLAWS OF THE HOUSING AND REDEVELOPMENT
AUTHORITY OF THE CITY OF RICHFIELD, MINNESOTA
This HRA Resolution appears as HRA Resolution No. 899 in HRA Resolution Book NO.7.
B. Approved leasing HRA-owned property at 7601 Pleasant Avenue S.R. No. 46
C. Approved 2003-2004 contract with Julianne Schwietz to work with Livable Communities Team
S.R. No. 47
D. Approved extending closing date for sale of land at 6833 and 6855 Penn Avenue to Penn
Place Townhouses LLC for residential redevelopment S.R. No. 48
E. Approved resolution authorizing $855,000 internal loan for advance of public redevelopment
costs in connection with Lyndale Gateway West Tax Increment Financing District S. R. No.
49
HRA RESOLUTION NO. 900
AUTHORIZING $855,000 INTERNAL LOAN FOR
ADVANCE OF PUBLIC REDEVELOPMENT COSTS IN CONNECTION WITH
L YNDALE GATEWAY WEST TAX INCREMENT FINANCING DISTRICT
This HRA Resolution appears as HRA Resolution No. 900 in HRA Resolution Book NO.7.
,
F. Approved resolution authorizing execution of Tax Increment Pledge Agreement with City of
Richfield relating to $6 million Taxable General Obligation Tax Increment Bonds S.R. No. 50
HRA RESOLUTION NO. 901
RESOLUTION AUTHORIZING EXECUTION OF
TAX INCREMENT PLEDGE AGREEMENT WITH THE
CITY OF RICHFIELD RELATING TO $6 MILLION TAXABLE
GENERAL OBLIGATION TAX INCREMENT BONDS
This HRA Resolution appears as HRA Resolution No. 901 in HRA Resolution Book NO.7.
M/Linnihan, S/Helmberger to approve the Consent Calendar.
Motion carried 3-0.
HRA Meeting Minutes
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August 18, 2003
Item #4
HRA Attorney Dean presented Staff Report No. 51 regarding consideration of
administrative revisions to the First Amended and Restated Contract for Private Redevelopment for
Lyndale Gateway, LLC.
Mr. Dean explained there will be a City Council meeting on August 19, 2003 regarding the
sale of the bonds for this project.
M/Helmberger, S/Linnihan to authorize recommended administrative revisions to the First
Amended and Restated Contract for Private Redevelopment with Lvndale Gatewav. LLC.
Motion carried 3-0.
Item #5
Finance Manager Regis presented an overview of the tax levy process.
Commissioner Heimberger asked how the maximum levy is determined.
Finance Manager Regis explained the calculations.
Community Development Director Palmborg presented budget highlights of 2003 Revised
and 2004 Proposed Budget.
Chair Harms asked if staff has talked to any lenders in Richfield about partnering with the
HRA on Richfield redevelopment and transformation loans as an interest buy down factor in a long-
term basis?
Community Development Director Palmborg stated that staff has not done so recently.
Chair Harms suggested going to local banks to partner with the HRA.
Commissioner Heimberger stated that staff did a very thorough job on the budget report.
Larry Wozniczka, 6744 Wentworth Avenue, asked when calculating maximum taxable
market value does that include all properties that are tax increment properties at this time?
Finance Manager Regis explained the calculations.
Larry Wozniczka, 6744 Wentworth Avenue, asked why aren't administrative funds from
Best Buy being used to reduce the levy?
Community Development Director Palmborg said next year would be the first year for using
these revenues.
1/
HRA Meeting Minutes
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August 18, 2003
Chair Harms also explained how funds are used for housing.
Commissioner Heimberger asked about the status of redevelopment on the eastside? Is
the HRA ready to clear north of 66th Street or 18th Avenue?
Community Development Director Palmborg responded that staff is working with Ryan
Companies, Inc. on a retail center and how to finance the redevelopment. It doesn't appear to be a
viable TI F District.
Chair Harms stated that staff has done a fine job.
M/Helmberger, S/Linnihan that the followino 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. 902
RESOLUTION APPROVING PROPOSED 2004 HOUSING AND REDEVELOPMENT AUTHORITY
BUDGET AND CERTIFYING THE 2003 TAX LEVY
Motion carried 3-0. This HRA Resolution appears as HRA Resolution No. 902 in HRA
Resolution Book NO.7.
M/Linnihan, S/Helmberger that the followino 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. 903
RESOLUTION AUTHORIZING REVISION OF THE 2002 BUDGET OF THE
HOUSING AND REDEVELOPMENT AUTHORITY OF RICHFIELD
Motion carried 3-0. This HRA Resolution appears as HRA Resolution No. 903 in HRA
Resolution Book No.7.
Item #6
No report.
Item #7
M/Helmberger, S/Linnihan that the followino claims and pavroll be approved.
FIRST AR BANK June 16. 2003
Section 8 Checks: 104715 -104829
HRA Checks: 26640 - 26675
$166,157.97
$692,862.19
HRA Meeting Minutes
FIRSTAR BANK Julv 21. 2003
Section 8 Checks: 104830 - 104954
HRA Checks: 26676 - 26730
FIRSTAR BANK Auaust 18.2003
Section 8 Checks: 104955 - 105082
HRA Checks: 26731 - 26779
Motion carried 3-0.
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August 18, 2003
$163,533.86
$451,732.88
$169,058.98
$367,247.94
The meeting was adjourned by unanimous consent
Date Approved: September 15, 2003
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Nancy Gibbs d
City Clerk
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