08-20-2018 Complete AgendaE C O N O MIC D E V E L O P ME N T AU T H O R IT Y ME E T IN G
R IC H F IE L D MU N IC IPAL C E N TE R, C O U N C IL C H AMB E R S
AU G U S T 20, 2018
7:15 PM (I MME D I AT ELY FO L L OWI NG THE HRA ME ETI NG)
C all to Order
Approval of the Minutes
A pproval of the minutes of the regular E conomic D evelopment A uthority meeting of March 19, 2018.
AG E N D A APPR O VAL
1.A pproval of the A genda
R E S O L U T IO N S
2.C onsideration of the adoption of resolutions approving proposed property tax levy for payable 2019 for
certification to Hennepin C ounty.
S taff Report No. 5
E D A D ISC U SSIO N IT E MS
3.E D A D iscussion Items
E X E C U T IV E D IR E C TO R R E P O R T
4.E xecutive D irector's Report
C LAIMS AN D PAYR O L LS
5.C laims and P ayrolls
6.A djournment
Auxiliary aids for individuals with disabilities are available upon request. Requests must be made at least 96
hours in advance to the City Clerk at 612-861-9738.
ECONOMIC DEVELOPMENT
AUTHORITY MEETING MINUTES
Richfield, Minnesota
Regular Meeting
March 19, 2018
CALL TO ORDER
The meeting was called to order by President Supple at 7:19 p.m.
EDA Members Present: Mary Supple, President; Pat Elliott; Sue Sandahl; and Erin Vrieze
Daniels.
EDA Members Absent: Michael Howard
Staff Present: John Stark, Community Development Director; Julie Urban, Housing
Manager; and Kate Aitchison, Housing Specialist.
APPROVAL OF THE MINUTES OF THE REGULAR EDA MEETING OF JANUARY 16, 2018
M/Sandahl, S/Elliott to approve the minutes of the January 16, 2018, Economic
Development Authority regular meeting.
Motion carried 4-0.
Item #1 EDA APPROVAL OF THE AGENDA
M/ Vrieze Daniels, S/Elliott to approve the agenda.
Motion carried 4-0.
Item #2
CONSIDERATION OF THE APPROVAL OF PROGRAM GUIDELINES FOR THE
APARTMENT REMODELING PROGRAM
Community Development Director Stark presented Staff Report No. 4.
M/Sandahl, S/Elliott to approve the program guidelines for the apartment remodeling
program.
President Supple added that the motion will add a limit to the number of loans that can be
received per property, per lifetime, and will authorize staff to prepare loan documents.
Motion carried 4-0.
Item #3
EDA DISCUSSION ITEMS
None.
Item #4
EXECUTIVE DIRECTOR REPORT
EDA Meeting Minutes -2- March 19, 2018
Community Development Director Stark stated that he has nothing to report.
Item #5
CLAIMS AND PAYROLL
M/Elliott, S/Sandahl that the following claims and payroll be approved:
U.S. BANK 3/19/18
EDA Checks: 20001-20012 $6,275.00
TOTAL $6,275.00
U.S. BANK 2/20/18
EDA Checks: 20033-20043 $6,366.50
TOTAL $6,366.50
Motion carried 4-0.
ADJOURNMENT
The meeting was adjourned by unanimous consent at 7:34 p.m.
Date Approved: August 20, 2018
Mary B. Supple
EDA President
Kate Aitchison Steven L. Devich
Housing Specialist Executive Director
AGENDA SECTION:RESOLUTIONS
AGENDA ITEM #2.
S TAFF REPORT NO. 5
E CONOMIC DE V E LOP ME NT AUT HORIT Y
MEET ING
8/20/2018
RE P O RT P RE PA RE D B Y: C hris Regis, F inance Manager
D E PA RTME NT D IRE C TO R RE V IE W: S teven L . D evich, E xecutive D irector
8/15/2018
O THE R D E PA RTM E NT RE V IE W: N/A
C ITY MA NA G E R RE V IE W: S teven L . D evich, E xecutive D irector
8/15/2018
I T E M F O R C O UNC IL C O NS ID E RAT I O N:
Consideration of the adoption of resolutions approving proposed property tax levy for payable 2019 for
certification to Hennepin County.
E X E C UT IV E S UM M ARY:
The bylaws of the Richfield Economic Development Authority (E D A) require that an annual budget be
submitted to the E D A Commissioners for approval. Accordingly, the 2019 Proposed Budget and Tax Levy and
2018 Revised Budget are presented for approval.
I n addition, Minnesota State Statutes require adoption of a preliminary tax levy from each taxing authority.
The proposed tax levy must be certified to the Hennepin County Auditor by October 1, 2018. Any
amendments to the proposed budget, which would increase the property tax levy, must be made prior to
October 1, 2018. No increases in the tax levy are permissible after that date, only reductions. Final
certification of the E D A tax levy is part of the City’s budget process.
The tax levy as proposed represents a 1.22% increase from the previous year ’s levy.
RE C O M M E ND E D AC T I O N:
By motion: Adopt resolutions approving the 2019 Proposed Economic Development Authority Budget
and Tax Levy and 2018 Revised Economic Development Authority Budget.
B AS IS O F RE C O M M E ND AT I O N:
A.H IS TOR IC AL C ON T E X T
2018 was the first year that the City of Richfield established and authorized an E D A tax levy.
The E D A levy is added to the City's general property tax levy and has an impact on the overall
City tax levy increase.
B.P OL IC IE S (resolutions, ordinances, regulations, statutes, etc):
Minnesota Statutes require adoption of a preliminary levy from each taxing authority.
The budget and accompanying proposed levy for 2019 are ready for consideration.
Even though a public hearing for the E D A tax levy is not required by State Statute, this does not
preclude the E D A from opening this item up for public discussion if the E D A desires to do so.
C.C R IT IC AL T IMIN G IS S U E S:
As required by State Statutes, each taxing authority must certify its proposed tax levy for the
payable year 2019 to the County Auditor on or before October 1, 2018.
D.F IN AN C IAL IMPAC T:
The Proposed 2018 E D A levy represents a 1.22% increase from the previous year ’s levy.
Staff made a decision not to apply the full allowable E D A levy for 2019 in order to hold down the
City's overall tax levy increase.
The levy is approximately $24,320 less than the maximum E D A levy established by law of the
.01813% of the City’s total taxable market value net of market value exclusion.
The E D A may decide to levy an addition amount up to the maximum allowed by law, if they choose
to do so.
E.L E GAL C ON S ID E R AT ION:
N/A
ALTE R N AT IV E R E C O MME N D ATIO N(S):
The E D A could adopt a preliminary levy less than the one proposed herein. However, that would not
provide for programs that are recommended in the 2019 Proposed/2018 Revised budget.
P R IN C IPAL PAR TIE S E X P E C TE D AT ME E TIN G:
None
AT TAC H ME N T S:
D escription Type
Resolution - 2019 E D A B udget and Tax L evy Resolution L etter
Resolution - Revision of 2018 E D A B udget Resolution L etter
EDA RESOLUTION NO.
RESOLUTION APPROVING PROPOSED 2019 ECONOMIC DEVELOPMENT
AUTHORITY BUDGET AND CERTIFYING THE 2019 TAX LEVY
BE IT RESOLVED by the Housing and Redevelopment Authority of the City of
Richfield, Minnesota as follows:
Section 1. The budget for the Economic Development Authority
General Fund of Richfield for the year 2019 in the amount of
$536,040 is hereby ratified.
Section 2. The estimated gross revenue of the Economic Development
Authority General Fund of Richfield from all sources, including
general ad valorem tax levies as hereinafter set forth for the year
2019, and as the same are more fully detailed in the Executive
Director’s official copy of the budget for the year 2019, in the
amount of $563,400 is hereby approved.
Section 3. There is hereby levied upon all taxable property in the City of
Richfield an ad valorem tax in 2018, payable in 2019 for the
following purposes:
Economic Development Authority $567,281
Section 4. A certified copy of this resolution shall be transmitted to the County
Auditor.
Adopted by the Economic Development Authority in and for the City of Richfield,
Minnesota this 20th day of August, 2018.
Mary Supple, President
ATTEST:
Erin Vrieze Daniels, Secretary
EDA RESOLUTION NO.
RESOLUTION AUTHORIZING REVISION OF THE 2018 BUDGET OF THE
ECONOMIC DEVELOPMENT AUTHORITY OF RICHFIELD
WHEREAS, Resolution No. 2 appropriated funds for personal services and other
expenses for the Economic Development Authority for the year 2018, and
WHEREAS, The Executive Director has requested a revision of the 2018 budget as
detailed in the 2019 budget document.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
of Richfield, Minnesota as follows:
Section 1. That the 2018 appropriation for the Economic Development Authority
General Fund is revised as follows:
$76,010 decrease
Section 2. Estimated 2018 gross revenue of the Economic Development
Authority General Fund from all sources, as the same is more fully
detailed in the Executive Director’s official copy of the 2019 budget
document, are hereby revised as follows:
$400 decrease
Section 3. That the Executive Director bring into effect the provisions of this
resolution.
Adopted by the Economic Development Authority in and for the City of Richfield,
Minnesota this 20th day of August, 2018.
Mary Supple, Chair
ATTEST:
Erin Vrieze Daniels, Secretary