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10-21-19851 [J HOUSING AND REDEVELOPMENT AUTHORITY CITY OF RICHFIELD, MINNESOTA "~~ OCTOBER 21 , 1985 The meeting was called to order by Chairman Harms at 7:30 p.m. COMMISSIONERS PRESENT: Thomas Harms; Don Hassenstab; Joan Helmberger; Ivan Ludeman; and, Vern Luettinger STAFF PRESENT: Bruce Palmborg, Housing & Redevelopment Coordinator; Clayton LeFevere, City Attorney; Steve Devich, Administrative Services Director; Dennis Kraft, Community Development Director; and, John Cartwright, City Manager (arrived at• 7 :45 p.m. ) P P AL 0 Commissioner Hassenstab moved the following corrections to the minutes of the Regular meeting of September 16, 19$5: on Item ~~4, page ~4, Helmberger's name should be inserted instead of Hassenstab in the motion; and, on the signature page of the same meeting, that the signatory be Vice-Chairman Vern Luettinger rather than John Hamilton. Commissioner Ludeman noted a correction on the Special meeting minutes of October 7, 1985, indicating that in Item ~~1, at the top of the second page, the minutes state Commissioner Ludeman spoke in "opposition" to the project. Commissioner Ludeman indicated that he spoke in support of the project, but indicated that he was in opposition to tax increment financing. M/Hassenstab, corrected, of the SlLuettinger to 4-lne minii~l-ec OPPORTUNITY OR CI I E S 0 ADDR S E RA None. i Item ~~1 0 D R N 0 A R OL ION APPROV A R D VELOP E PLAN AND TAX INCREMENT FINANCING PLAN FOR THE INTERSTATE-LYNDALE-NICOLLET REDEVELOPMENT PROJECT, REQUESTING THE CITY COUNCIL TO CONDUCT PUBLIC HEARINGS AND RECOMMENDING APPROVAL OF THE PLANS BY THE CITY COUNCIL. HRA LETTER N0. 56. Motion carried 5-0. HRA Meeting Minutes -2- October 21, 1.935 Housing and Redevelopment Coordinator Palmborg reviewed HRA Letter Number 56, concerning the consideration of a resolution approving a redevelopment plan and tax increment financing plan for the Interstate-Lyndale-Nicollet Redevelopment Project, requesting the City Council to conduct Public Hearings and recommending approval of the plans by the City Council. Mr. Palmborg stated that the plans now before the HRA were the same as those presented at the special meeting of October 7, with the following modifications: ' 1) Omitting the specific location of a customer parking lot on the block west of Lyndale between 76th and 77th Streets; and, 2) Adding language to the Tax Increment Financing plan stating that both long and short-term bonding would be considered for financing public improvements. Arijs Pakalns, BRW, responded to concerns raised at the October 7 meeting concerning traffic circulation. Mr. Pakalns stated that no further traffic control improvements would be necessary at 76th and Lyndale because the overall anticipated traffic volumes on 76th Street and Lyndale Avenue will be reduced due to the 77th Street improvements. He added that the existing advance left turn arrow would remain and should be sufficient to handle traffic capacity at the intersection. Mr. Pakalns also described the future "T" interjection of 76th Street with 77th Street and projected traffic flows for that area. He went on to state that the .proposed traffic signal at future Girard Avenue (it's now a private road) would be adequate to handle traffic. Executive Director Cartwright asked Mr. Pakalns if pedestrian traffic improvements would be made over 35W at 76th Street. Mr. Pakalns responded that the pedestrian traffic over 35W at 76th Street was not studied, and as such, no improvements are contemplated. Mr. Pakalns said that there is a pedestrian walk across the bridge and the new traffic signal at Girard Avenue and 76th Street would help to make the area safer for pedestrians. Mr. Pakalns also addressed the area of 77th and Lyndale. He stated that widening would be done on Lyndale Avenue to provide left turn lanes at 77th Street and on the bridge over ~9~. Commissioner Helmberger asked that if 77th Street were extended to Nicollet, would there be a need for a traffic signal at 7.7th and Nicollet. Mr. Pakalns responded that if 77th Street became a business thoroughfare, a traffic signal may be necessary at that intersection. HRA Meeting Minutes -3- October 21, 1985 M/Luettinger, S/Hassenstab that the followin resolution be adopted• that it be s read in the Reso ution Book an a be ma a part o t ese minutes: HRA RESOLUTION N0. 267 APPROVING A REDEVELOPMENT PLAN AND TAX INCREMENT FINANCING PLAN FOR THE INTERSTATE-LYNDALE-NICOLLET REDEVELOPMENT PROJECT, REQUESTING THE CITY COUNCIL TO CONDUCT PUBLIC HEARINGS AND RECOMMENDING APPROVAL OF THE PLANS BY THE CITY COUNCIL Commissioner Ludeman stated that he had concerns about the PUD plan for the ILN project. He asked if any discussion had taken place between City staff and Bloomington staff on widening the bridge over 494 at Lyndale. City Engineer Eastling responded that City staff had met with Bloomington officials, and that right-of-way was available, but. that Bloomington. was currently concentrating their efforts on highway and street improvement plans for the proposed mega- mall, which has become their.highest priority. Therefore, funding by Bloomington for widening the Lyndale bridge over 494 is very questionable at best. Commissioner Ludeman stated that he felt a joint meeting between Richfield and Bloomington City Councils should take place to discuss the bridge across 494 at Lyndale. Commissioner Ludeman was concerned that the City could be held responsible for widening the Lyndale Avenue bridge over 494. Attorney LeFevere stated that the Lyndale bridge widening project was not part of the CDR PUD, and as such, the City could not be held responsible by the CDR developers for improving the bridge. Chairman Harms said that the project was a good one and that staff had done considerable research on financing methods available for the project. The result of the staff study was that Tax Increment Financing was the only viable option. Commissioner Ludeman asked if the City would share in the profits if the CDR project was later sold by the developer for a profit, since the City will be aiding the CDR development by acquiring right of way and constructing streets to serve the CDR site. Attorney LeFevere responded that the City staff is not seeking from the developer a share in such profits. The developers are taking the risk in developing the project and, in turn, are entitled to the profits that may materialize from the future sale of the privately financed project. Commissioner Ludeman then stated that CDR had made offers to the four property owners on the west side of Emerson Avenue, but HRA Meeting Minutes -4- October 21, 1985 from his understanding, had appeared to have backed off of those offers at this time.. Attorney LeFevere responded that insofar as staff was aware negotiations for the property acquisition will be continued by the developers of the CDR site. Commissioner Ludeman stated that he thought there were other ways to finance the project which would not place such a potential tax burden on the residents of Richfield, as would Tax Increment Financing. Executive Director Cartwright responded that the staff had done a thorough investigation of financing alternatives available for the project and found that Tax Increment Financing was the only method which would generate sufficient resources for the public improvements. Other methods could be used to complement the Tax Increment Financing, but Tax Increment Financing was the mayor financial source necessary. Motion carried 4-1. Ludeman opposed. This resolution appears as Resolution No. 267 in Resolution Book No. 3. Item ~~2 P BLI HEA I 0 0 S D R H .ALE 0 750 OL A AVENUE TO GEORGE E. BRANTON CONSTRUCTION COMPANY AND TO CONSIDER A DEVELOPMENT AND SALES AGREEMENT BETWEEN THE HRA AND GEORGE E. BRANTON CONSTRUCTION COMPANY. HRA LETTER N0. 57. Executive Director Cartwright reviewed HRA Letter Number 57 concerning a Public Hearing to consider the sale of 7508 Colfax Avenue to George E. Branton Construction Company and to consider a development and sales agreement between the HRA and George E. Branton Construction Company. Commissioner Helmberger asked if there was an expiration date on the second lien on 7508 Colfax. Housing and Redevelopment Coordinator Palmborg responded that the lien would expire upon the sale of the property when the original purchaser sells. MlHassenstab, S/Helmberger to close the Public Hearing. Motion carried 5-0. M/Ludeman, S/Helmberger that the following resolution be adopted; that it be spread in the Resolut on Book and be made a part of -these -minutes: HRA RESOLUTION N0. 268 AUTHORIZING THE SALE OF 7508 COLFAX AVENUE SOUTH AND ENTERING INTO A DEVELOPMENT AND SALES AGREEMENT HRA Meeting Minutes -5- October 21, 1985 Motion carried 5-0. This resolution appears as Resolution No. 2 in Resolut on Book No. 3. 1 Item ~~3 CON ID 0 0 L PL S OR R D RAE DRIVE HRA HOUSING DEVELOPMENT PROJECT. HRA LETTER ' N0. 58. Executive Director Cartwright reviewed HRA Letter Number 5$ regarding. consideration of final plans for 66th Street and Rae Drive for the 66th Street and Rae Drive HRA Housing Development Project. Commissioner Luettinger asked if the drainage problems concerning residents abutting the property had been resolved. Executive Director Cartwright responded that the staff had resolved all such conberns. M/Ludeman, S/Luettinger to ap rove the .final plans and authorize their submission to t e Ci y ouncil or review and approval. Motion carried 5-0. 1 Item ~~~ L MS AND PAYROLL M/Hassenstab, SlLuettinger to approve C1_aims and Payrolls. First Western ~5717~~07 `- $12,857.43 6224/6237 Motion carried 5-0. 1 ~D'~0[~I L1 T The meeting was adjourned by conc~.risus at 8:31'p.m. ,~ / ~ App- o 11/ 18 5 ~ ~~~~~'~~ ?.l :, ~' c! , ~?,,,~ i'~ `~T o s H a j .eve L. ev ch n ar r ht Acting City Clerk xecutive Di cto , n