031824 HRA AgendaREGULAR HOUSING AND REDEVELOPMENT AUTHORITY MEETING
RICHFIELD MUNICIPAL CENTER, COUNCIL CHAMBERS
MARCH 18, 2024
7:00 PM
Call to Order
Gordon Hanson Oath of Office
Elect officers for the Richfield Housing and Redevelopment Authority for 2024.
Staff Report No. 3
Open Forum
Each speaker is to keep their comment period to three minutes to allow sufficient time for others. Comments
are to be an opportunity to address the HRA. Please refer to the HRA agenda and minutes web page for
additional ways to submit comments. Call into the open forum by dialing 1-415-655-0001 Use webinar access
code: 2632 548 1687 and password: 1234.
Appr oval of t he M inut es
Approval of the minutes of the Regular Housing and Redevelopment Authority meeting of February 20, 2024.
AGENDA APPROVAL
1.Approval of the Agenda
2.Consent Calendar contains several separate items which are acted upon by the HRA in one motion.
Once the Consent Calendar has been approved, the individual items and recommended actions have
also been approved. No further HRA action on these items is necessary. However, any HRA
Commissioner may request that an item be removed from the Consent Calendar and placed on the
regular agenda for HRA discussion and action. All items listed on the Consent Calendar are
recommended for approval.
A.Consider resolutions designating official depositories for the Housing and Redevelopment Authority for
2024, including the approval of collateral.
Staff Report No. 4
3.Consideration of items, if any, removed from Consent Calendar
OTHER BUSINESS
4.Designation of Community Development Director Melissa Poehlman as the Executive Director of the Richfield
Housing and Redevelopment Authority.
Staff Report No. 5
5.2023 HRA and EDA Year in Review
HRA DISCUSSION ITEMS
6.HRA D iscussion Items
E X E C U T IV E D IR E C TO R R E P O R T
7.E xecutive D irector's Report
C LAIMS
8.C laims
9.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 612-861-9739.
AGENDA SECTION:Call to Order
AGENDA ITEM #
STAFF REPORT NO. 3
HOUSING AND REDEVELOPMENT AUTHORITY
MEETING
3/18/2024
REPORT PREPARED BY: LaTonia DuBois, Administrative Assistant
OTHER DEPARTMENT REVIEW: N/A
EXECUTIVE DIRECTOR REVIEW: Melissa Poehlman, Executive Director
3/7/2023
ITEM FOR COUNCIL CONSIDERATION:
Elect officers for the Richfield Housing and Redevelopment Authority for 2024.
EXECUTIVE SUMMARY:
The Bylaws of the Richfield Housing and Redevelopment Authority (HRA) provide that the HRA hold an
annual meeting in March. The Bylaws further provide that the Chair, Vice Chair, and Secretary of the HRA
be elected at this meeting.
Officers for 2023 were:
Erin Vrieze Daniels, Chair
Gordon Hanson, Vice Chair
Sean Hayford Oleary, Secretary
RECOMMENDED ACTION:
By motion: Elect officers for the Richfield Housing and Redevelopment Authority for 2024.
BASIS OF RECOMMENDATION:
A.HISTORICAL CONTEXT
Provided in the Executive Summary.
B.EQUITABLE OR STRATEGIC CONSIDERATIONS OR IMPACTS
None
C.POLICIES (resolutions, ordinances, regulations, statutes, exc):
The HRA Bylaws provide for the election of officers.
D.CRITICAL TIMING ISSUES:
The HRA Bylaws require that an election of officers be held at the annual meeting in March.
E.FINANCIAL IMPACT:
None
F.LEGAL CONSIDERATION:
None
ALTERNATIVE RECOMMENDATION(S):
None
P R IN C IPAL PAR TIE S E X P E C TE D AT ME E TIN G:
N/A
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING MINUTES
Richfield, Minnesota
Regular Meeting
February 20, 2024
CALL TO ORDER
Acting Chair Hanson called the meeting to order at 7:00 p.m. in the Council Chambers.
HRA Members
Present:
Erin Vrieze Daniels, Chair; Gordon Hanson; Sean Hayford
Oleary; Mary Supple; and John Young
HRA Members
Absent
Staff Present: Julie Urban, Assistant Community Development Director; Jan
Youngquist, Economic Development Manager; and Dustin Leslie,
City Clerk.
OPEN FORUM
Chair Vrieze Daniels gave instructions on how to participate in the open forum. No one
spoke.
APPROVAL OF THE MINUTES
M/Hayford Oleary, S/Supple to approve the 1) minutes of the regular Housing and
Redevelopment Authority meeting of December 18, 2023, and the 2) minutes of the Special
Housing and Redevelopment Work Session of January 4, 2024.
Motion carried: 5-0
ITEM #1 APPROVAL OF THE AGENDA
M/Hanson, S/Hayford Oleary to approve the agenda.
Motion carried: 5-0
HRA Meeting Minutes -2-February 20, 2024
ITEM #2 APPROVAL OF THE CONSENT CALENDAR
Assistant Community Development Director Urban presented the Consent Calendar.
A.Consideration of a resolution authorizing the Executive Director to make modifications
to the Contract for Private Development with Nasadir Ahmed and Mohamed Isse for
the development of 6326 14th Avenue South through the Richfield Rediscovered
Program (Staff Report No. 1).
M/Hanson, S/Supple to approve the consent calendar.
Motion carried: 5-0
ITEM #3 CONSIDERATION OF ITEMS, IF ANY, REMOVED FROM THE CONSENT
CALENDAR
None.
ITEM #4
DISCUSS A REQUEST TO AMEND THE MEMORANDUM OF UNDERSTANDING
BETWEEN THE HOUSING AND REDEVELOPMENT
AUTHORITY AND DANI, LAURA, AND MARIELA JIMENEZ RELATED TO THE
HOUSING AND REDEVELOPMENT AUTHORITY PROPERTY AT
1430 - 66TH STREET EAST FOR CONSTRUCTION OF A BAKERY AND DELI.
Economic Development Manager Youngquist gave the report.
Commissioner Hanson asked what kind of timeline could be expected for the lawsuit.
Youngquist stated the City Attorney said it could last for more than a year.
Commissioner Young noted that the Memorandum of Understanding (MOU) was set to
expire in May and asked if there were any legal liability considerations to let the MOU expire.
Youngquist stated that letting the MOU run its course and expire in May would be the least risky
option according to the City Attorney. She further stated that there would only be liabilities if
obligations before the expiration of the MOU were not met.
Commissioner Hayford Oleary asked if it was the preference of staff to terminate the
MOU or let it expire. Youngquist replied that the preference would be to let it expire.
Commissioner Hayford Oleary asked how this occurrence differed from past allegations
of wage violations. Youngquist stated these allegations were different because a lawsuit has
been filed against the owners.
Commissioner Supple stated she was comfortable with letting the MOU expire while the
lawsuit plays out in court.
Commissioner Young asked if this could be revisited once the lawsuit was resolved.
Youngquist stated that it could be revisited.
HRA Meeting Minutes -3-February 20, 2024
Commissioner Hayford Oleary stated he was concerned with treading water by just
letting the MOU expire and not letting the developers advance the project.
Chair Vrieze Daniels stated she would like to see what happens with the lawsuit and let
the MOU expire. Commissioners Young and Hanson concurred with that statement.
Youngquist summarized the feedback received from the Commissioners.
ITEM #5 HRA DISCUSSION ITEMS
Commissioner Supple congratulated Commissioner Hanson for being reappointed to the
HRA.
Commissioner Hayford Oleary spoke about a legislative bill that was introduced having
to do with density around transit lines.
ITEM #6 EXECUTIVE DIRECTOR REPORT
Assistant Community Development Director Urban congratulated Commissioner Hanson
on his reappointment and stated he would receive the oath of office at the next meeting in
March.
Urban stated she spoke with MWF Properties regarding the development at 7700
Pillsbury Ave and stated they did not receive enough points for tax credits. She further stated
that they would not attempt to receive the points in the future.
ITEM #7 CLAIMS
M/Young, S/Hanson that the following claims be approved:
U.S. BANK 1/16/2024
HRA Checks: #36989-37000 $146,510.76
Section 8 Checks: #135428-135512 $221,541.28
TOTAL $368,052.04
U.S. BANK 2/20/2024
HRA Checks: #37001-37019 $111,912.48
Section 8 Checks: #135513-135605 $209,458.67
TOTAL $321,371.15
Motion carried: 5-0
HRA Meeting Minutes -4-February 20, 2024
ITEM #8 ADJOURNMENT
The meeting was adjourned by unanimous consent at 7:23 p.m.
Date Approved: March 18, 2024
Erin Vrieze Daniels
HRA Chair
Dustin Leslie Julie Urban
City Clerk Assistant Community Development
Director
AGENDA SECTION:Consent Calendar
AGENDA ITEM #2.A.
STAFF REPORT NO. 4
HOUSING AND REDEVELOPMENT AUTHORITY
MEETING
3/18/2024
REPORT PREPARED BY: Kumud Verma, Finance Director
OTHER DEPARTMENT REVIEW:
EXECUTIVE DIRECTOR REVIEW:
ITEM FOR COUNCIL CONSIDERATION:
Consider resolutions designating official depositories for the Housing and Redevelopment Authority
for 2024, including the approval of collateral.
EXECUTIVE SUMMARY:
In compliance with Minnesota statutes, the Housing and Redevelopment Authority of Richfield (HRA) must
designate on an annual basis those financial institutions it does business with.
The following resolutions for the HRA Board’s consideration, designate U.S Bank/4M Fund as a depository of
HRA funds, and certain savings and loan associations, banks, credit unions and certain financial institutions
as depositories for the investment of HRA funds.
RECOMMENDED ACTION:
By motion: Adopt the attached resolutions designating official depositories, with the understanding
that the Housing and Redevelopment Authority could not invest in any of the depositories beyond the
level of insurance coverage of the pledged collateral.
BASIS OF RECOMMENDATION:
A.HISTORICAL CONTEXT
N/A
B.EQUITABLE OR STRATEGIC CONSIDERATIONS OR IMPACTS
Regular business transaction.
C.POLICIES (resolutions, ordinances, regulations, statutes, exc):
In accordance with Minnesota Statutes Section 118A.01 - 118A.06, the HRA of Richfield must
designate financial institutions annually. The institutions must pledge the collateral over and above the
amount of federal insurance, as public depositories.
U.S. Bank acts as the banking institution in the HRA’s banking arrangement with the 4M Fund. Monies
received, checks written, by the HRA, flow through U.S. Bank, however, at the end of each business day,
any proceeds remaining in HRA U.S. Bank accounts are swept to the 4M Fund to be invested.
Therefore, at the end of the business day the HRA accounts are zero, which means the collateral
requirements of Minnesota Statutes Section 118A.03 are not required. Accordingly, U.S. Bank has met
all other statutory requirements and should be considered as a depository for the HRA’s vendor
accounts and all savings deposits.
The HRA must also designate annually, certain savings and loan associations, banks, and credit unions
as official depositories for deposit and investment of certain HRA funds. With approval of these official
Melissa Poehlman, Executive Director
3/5/2024
N/A
depositories, the HRA will be able to invest funds in these institutions, not exceeding the federal
insurance of $250,000.
Finally, a designation must be made for certain financial institutions as depositories for the investment of
HRA funds for 2023. These institutions, such as investment brokerage firms, offer government securities
in the manner required by law. These financial institutions include RBC Capital Markets, Raymond
James & Associates, Northland Securities, Oppenheimer & Co., Principal Custody Solutions, Moreton
Capital Markets, Pershing Wealth Solutions BNY Mellon and, and the 4M Fund.
D.CRITICAL TIMING ISSUES:
N/A
E.FINANCIAL IMPACT:
N/A
F.LEGAL CONSIDERATION:
The HRA is required by Minnesota Statute 118A.01 - 118A.06, to designate as a depository of funds,
insured banks or thrift institutions. Any collateral so deposited is accompanied by an assignment
pledged to the HRA in the amount specified in the attached resolutions.
ALTERNATIVE RECOMMENDATION(S):
None
PRINCIPAL PARTIES EXPECTED AT MEETING:
None
ATTACHMENTS:
Description Type
Resolution Designating Certain Financial Institutions as
Depositories Resolution Letter
Resolution Designating Certain S&L Associations, banks
& credit unions as depositories Resolution Letter
Resolution Designating US Bank a depository of funds Resolution Letter
RESOLUTION NO. 1475
RESOLUTION DESIGNATING CERTAIN FINANCIAL
INSTITUTIONS AS DEPOSITORIES FOR THE INVESTMENT OF
HOUSING AND REDEVELOPMENT AUTHORITY OF RICHFIELD FUNDS IN 2024
WHEREAS, the Housing and Redevelopment Authority of Richfield has money
which is available for investment; and
WHEREAS, different financial institutions offer different rates of return on
investments; and
WHEREAS, the Housing and Redevelopment Authority of Richfield shall purchase
U. S. Treasury Bills, U. S. Treasury Notes and other such government securities in the
manner required by law from the institution offering the highest rate to the Housing and
Redevelopment Authority of Richfield providing greater flexibility in the investment
program and maximize interest income thereon.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority of Richfield, Minnesota, in accordance with Minnesota Statutes, Sections
118A.01 – 118A.06, as follows:
1.It is hereby found and determined that it is in the best interest of the proper
management of Housing and Redevelopment Authority of Richfield funds that
certain financial institutions be designated as additional depositories for
Housing and Redevelopment Authority of Richfield funds for 2024.
2.The following financial institutions designated as depositories for the Housing
and Redevelopment Authority of Richfield funds:
RBC Capital Markets Raymond James & Assoc.
Principal Custody Solutions 4M Fund
Northland Securities, Inc. Oppenheimer & Co.
Moreton Capital Markets Pershing Wealth Solutions BNY Mellon
3.The Finance Director is hereby authorized to deposit the Housing and
Redevelopment Authority of Richfield funds in any or all of the depositories
herein designated. Such deposits may be made and withdrawn from time to
time by the Finance Director’s judgment and as the interest of the Housing
and Redevelopment Authority of Richfield dictates.
4.The investment of funds and the reporting thereof pursuant to this resolution
shall be conducted in accordance with established policies regarding the
investment of these funds.
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota this 18th
day of March, 2024.
Chair
ATTEST:
Secretary
RESOLUTION NO. 1476
RESOLUTION DESIGNATING CERTAIN SAVING AND LO AN ASSOCIATIONS,
BANKS AND CREDIT UNIONS AS DEPOSITORIES FOR THE INVESTMENT OF
HOUSING AND REDEVELOPMENT AUTHORITY OF RICHFIELD FUNDS IN 2024
BE IT RESOLVED, by the Housing and Redevelopment Authority of Richfield,
Minnesota:
WHEREAS, pursuant to Minnesota Statutes, Sections 118A.01 – 118A.06,
municipal funds may be deposited in any Savings and Loan Association, Bank or Credit
Union which has its deposits insured by the Federal Deposit Insurance Corporation
(FDIC), or National Credit Union Administration (NCUA); and
WHEREAS, the amount of said deposits may not exceed the FDIC/NCUA
insurance covering such deposits which insurance amount is presently $250,000; and
WHEREAS, the deposit of Housing and Redevelopment Authority funds in
Savings and Loan Associations and Banks would provide greater flexibility in the
Housing and Redevelopment Authority’s investment program and maximize interest
income thereon.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority of Richfield, Minnesota, as follows:
1.It is hereby found and determined that it is in the best interest of the proper
management of Housing and Redevelopment Authority funds that certa in
Savings and Loan Association and Banks be designated as additional
depositories for Housing and Redevelopment Authority funds for 2024. 2.It is further found and determined that the purpose of such depository
designation is to facilitate the proper and advantageous investments of
Housing and Redevelopment Authority funds and that such designation is not
exclusive nor does it preclude the deposit of any Housing and
Redevelopment Authority funds in other officially designated depositories of
the Housing and Redevelopment Authority. 3.The Finance Director is hereby authorized to deposit Housing and
Redevelopment Authority funds in various depositories up to the amount of
$250,000, or such other amount as may be subsequently permitted by law,
such deposits to be in the form of demand accounts, payable to the H ousing
and Redevelopment Authority of Richfield on the signatures of the Housing
and Redevelopment Authority Finance Director. Such deposits may be made
and withdrawn from time to time by the Finance Director as his best judgment
and the interests of the Housing and Redevelopment Authority dictates. 4.The investment of funds and the reporting thereof pursuant to this resolution
shall be conducted in accordance with established policies of the Housing
and Redevelopment Authority regarding the investment of Ho using and
Redevelopment Authority funds.
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota this 18th
day of March, 2024.
Chair
ATTEST:
Secretary
RESOLUTION NO. 1477
RESOLUTION DESIGNATING U.S. BANK
A DEPOSITORY OF FUNDS OF THE HOUSING AND REDEVELOPMENT
AUTHORITY OF RICHFIELD
FOR THE YEAR 2024
BE IT RESOLVED, by the Housing and Redevelopment Authority of Richfield as
follows:
That, in accordance with Minnesota Statutes, Section 118A.01- 118A.06, U.S.
Bank be, and hereby is designated a depository of the funds of the Housing and
Redevelopment Authority of Richfield, subject to modification and revocation at any time
by said Housing and Redevelopment Authority, and subject to the following terms and
conditions:
The said depository shall not be required to give bonds or other securities for
such deposits provided that the total sum thereof shall not at any time exceed in any
depository the sums for which its deposits are insured under the Acts of Congress of the
United States relating to insurance of bank deposits; but that in case such deposits in
any such depository shall at any time exceed such insured sum, said depository shall
immediately furnish bonds or other security for such excess according to law, approved
by the Housing and Redevelopment Authority of Richfield.
That said depository shall pay on demand all deposits therein; and shall pay all
time deposits, at or after the end of the period for which the same shall be deposited, on
demand.
BE IT FURTHER RESOLVED, that there shall be maintained a general account
in which shall be deposited all monies. The following officers or their facsimile
signatures shall sign checks on this account;
CHAIR
EXECUTIVE DIRECTOR
BE IT FURTHER RESOLVED, that all funds remaining in the account at the end
of each business day will be transferred from U.S. Bank to the 4M Fund where funds
deposited are invested and insured.
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota
this 18th day of March, 2024.
Chair
ATTEST:
Secretary
AGENDA SECTION:OTHER BUSINESS
AGENDA ITEM #4.
STAFF REPORT NO. 5
HOUSING AND REDEVELOPMENT AUTHORITY
MEETING
3/18/2024
REPORT PREPARED BY: LaTonia DuBois, Administrative Assistant
OTHER DEPARTMENT REVIEW:
EXECUTIVE DIRECTOR REVIEW: Melissa Poehlman, Executive Director
3/7/2023
ITEM FOR COUNCIL CONSIDERATION:
Designation of Community Development Director Melissa Poehlman as the Executive Director of the
Richfield Housing and Redevelopment Authority.
EXECUTIVE SUMMARY:
The Housing and Redevelopment Authority (HRA) Bylaws require an Executive Director to be appointed to
conduct regular HRA business. On March 20, 2023 Community Development Director, Melissa Poehlman
was appointed to serve until the regular HRA meeting in March 2024. Staff recommends the reappointment of
Director Poehlman.
The HRA Bylaws do not stipulate a term for the Executive Director. Since 2018, this has been done annually,
although the reason for the annual consideration is unclear. Prior to that, the Executive Director was
appointed indefinitely. HRA Attorney Eddington has confirmed that this is the standard.
The HRA could continue to appoint an Executive Director annually or could decide to appoint for a different
term:
specific number of years;
tied to Director Poehlman's employment as the Community Development Director; or
other term determined by the HRA.
At any time, the Board could bring an item to appoint a different employee as Executive Director.
RECOMMENDED ACTION:
By motion: Designate Community Development Director Melissa Poehlman as the Housing and
Redevelopment Authority Executive Director.
BASIS OF RECOMMENDATION:
A.HISTORICAL CONTEXT
Historically, appointment of an HRA Executive Director was not considered annually. The specific language of
the HRA Bylaws is as follows:
Section 5. Executive Director. The Authority shall employ an Executive Director who shall have general
supervision over the administration of its business and affairs, subject to the direction of the Authority. He or she
shall be charged with the management of the housing and redevelopment projects of the Authority. Regardless
of who is appointed, the City Manager of the City of Richfield shall have ultimate authority in recommending an
annual levy and budget. The Executive Director may designate an acting Executive Director during periods
N/A
when he or she is absent or incapacitated.
B .E QU ITAB L E OR S T R AT E GIC C ON S ID E R AT ION S OR IMPAC T S
None
C .P OL IC IE S (resolutions, ordinances, regulations, statutes, exc):
The B ylaws of the Richfield HRA require the designation of an E xecutive D irector to manage the day-to-
day affairs of the A uthority.
D .C R IT IC AL T IMIN G IS S U E S:
A n E xecutive D irector must be appointed in order to conduct regular HRA business.
E .F IN AN C IAL IMPAC T:
None
F.L E GAL C ON S ID E R AT ION:
The B ylaws of the Richfield HRA require the designation of an E xecutive D irector.
It is unusual to have this appointment be considered annually. Typically an E xecutive D irector is
appointed indefinitely; effectively co-terminus with employment or action by the B oard to consider a
different appointment.
ALTE R N AT IV E R E C O MME N D ATIO N(S):
None
P R IN C IPAL PAR TIE S E X P E C TE D AT ME E TIN G:
N/A