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09-20-1999~~, ---~ HOUSING AND REDEVELOPMENT AUTHORITY MEETING MINUTES ~ Richfield, Minnesota CALL TQ ORDER Regular Meeting September 20, 1999 The meeting was called to order by Chair Harms at 7:00 p.m. 1 0 ROLL CALL HRA Members Present: Thomas Harms; Joan Helmberger; Kristal Stokes; and Michael Sandahl. HRA Members Not Present: Russ Susag Staff Present: Steven Devich, Acting Executive Director; Thomas Ferber, City Clerk; Bruce Palmborg, Community Development Director; and Bruce Nordquist, Housing and Redevelopment Manager. APPROVAL C)F MI'NUTES M/Stokes, S/Helmberger to approve the minutes of the September 13, 1999 Special HRA Meeting, Motion carried 4-0. HRA Meeting Minutes -2- September 20, 1999 Item #1 OPPORTUNITY .FOR CITIZENS TO ADDRESS THE HRA. Dexter Martson, Retail Site Selectors (RSS), speaking on behalf of RSS and Jim Larson of Madison Marquette Realty Services, discussed their vision for redevelopment for the Cedar Avenue Con•idor at the crossroads of Highway 77, Interstate 494 and the proposed 77th Street underpass. He stated their interest in developing a project with high profile specialty/entertainment retailers and restaurants. He also mentioned the possibility of a hotel with a water park. He requested HRA consideration to be a developer for the Cedar Avenue Corridor. Chair Harms suggested that they prepare a concept plan and financial projections for presentation to staff for their assessment of the feasibility of the proposal. Item #2 CONSIDERATION OF RESOLUTION AUTHORIZING FIRST AM'ENDM'ENT TO CONTRACT fOR PRIVATE REDEVELOPMENT BETWEEN HRA AND .~.~~ ~~-R~. w-....,~~,..~ ~, ..~~~~,., ~.~fi ~,R..~,,~..~ ~~~~ R ~ ~.~- ~.~.,~...~-~.-~ ~~ti.- ~r ~~:~u .~ ~ r~ ~ ~ ,wv~rv~~. ~ r~rr~ ~,Yr~~a~~'i ~ r~~~~ ~-i~~.r~+~.. ~ (WOODLAKE CENTRE). HRA LETTER NO. 58 Acting Executive Director Devich reviewed HRA Letter No. 58 regarding the proposed First Amendment to the Contract for Private Redevelopment between the Housing and Redevelopment Authority and the Richfield State Agency for the Urban Village Project (Woodlake Centre). Community Development Director Palmborg requested that the HRA grant authority to the staff to make any necessary minor changes in the amendment to satisfy the lender upon their final review. Jan Susee, Richfield State Agency, gave a status report on the Woodlake Centre development construction, leasing, costs, schedule and planned amenities. He requested assistance from the HRA and City in funding the $140,000 in storm sewer construction costs. He stated that the City had agreed to pay approximately $35,000 of the costs but the costs put a strain on the budget for the project. Commissioner Sandahl made a motion, seconded by Helmberger, to approve the resolution and to direct staff to find a way to cover the costs of the storm sewer project. Commissioner Sandahl stated because of the importance of the project and it being the center of Richfield, he did not want to see amenities cut out of the project due to the storm sewer costs. Chair Harms suggested that it would be preferable to have staff review and consider Mr. Susee's request and report back. Commissioners Sandahl and Helmberger accepted Chair Harms suggestion and the consideration of the issues in two separate motions. HRA Meeting Minutes -3- September 20, 1999 M/Sandahl, S/Helmberger that staff is authorized to make any necessary minor changes in the First Amendment to the Contract for Private Development between the HRA and RSA for the Urban Village Project to satisfy the lender upon their final review subject to approval of the HRA Chair or the majority of the HRA if the Chair is not available• and 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 N0.728 RESOLUTION APPROVING FIRST AMENDMENT TO CONTRACT FOR PRIVATE REDEVELOPMENT URBAN VILLAGE Motion carried 4-0. This HRA Resolution appears as HRA Resolution No. 728 in HRA Resolution Book No. 6. M/Sandahl, S/Helmberger that staff review and consider the request of Mr. Susee for funding assistance for the storm sewer construction for the Urban Village Proiect and report back to the HRA on their assessment of this reauest. Motion carried 4-0. --~ _~ Item #3 CONSIDERATION OF RESOLUTION'S PERMITTING INITIATION OF RICHFIELD'REDISCOVERED PROGRAM'FOR 1999.. HRA LETTER NO. 59 Acting Executive Director Devich reviewed HRA Letter No. 59 regarding consideration of resolutions regarding the Richfield Rediscovered New Construction Program related to: • Demolition of structurally substandard buildings • Inclusion of lots in the redevelopment tax increment financing district for the Richfield Rediscovered 1999 Tax Increment Financing District and Plan • Modification of Richfield Redevelopment Project Area Plan • Modification to the Gramercy Tax Increment Financing Plan • Modification to the Urban Village Tax Increment Financing Plan • Establishment of the Richfield Rediscovered 1999 Tax Increment Financing District Larry Wozniczka, 6744 Wentworth Avenue, asked questions regarding the amount of funds necessary to fund the program, acquisition costs, about his calculation that there would be funds in excess of that needed to complete the projected projects, sources of revenue and the use of the bond proceeds. HRA Meeting Minutes -4- September 20, 1999 Housing and Redevelopment Manager Nordquist reviewed the remodeling, transformation loan, and new construction elements of the Richfield Rediscovered program, including estimated costs and number of projects. Community Development Director Palmborg reviewed the projected two-year cycle of activity and use of the bond proceeds including administrative costs. Sid Inman, Ehlers & Associates, reviewed the four-year budget cycle and bonding estimates. Mr. Wozniczka stated concerns that the amount of the bonds did not compute to the projected projects by his calculations. M/Stokes, 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. 729 RESOLUTION REGARDING DEMOLITION OF STI~UCTUI~LLY SUBSTI~NDIaRD BUILDINGS IaND INCLUSION OF LOTS IN THE REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT FOR RICHFIELD REDISCOVERED NEW CONSTUCTION PROGRAM, 1999 Motion carried 4-0. This HRA Resolution appears as HRA Resolution No. 729 in HRA Resolution Book No. 6. M/Stokes, 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 N0.730 RESOLUTION MODIFYING THE RICHFIELD REDEVELOPMENT PROJECT AREA AND ADOPTING THE MODIFICATION TO THE REDEVELOPMENT PLAN RELATING THERETO; MODIFYING THE TAX INCREMENT FINANCING PLAN FOR THE GRAMERCY TAX INCREMENT FINANCING DISTRICT; MODIFYING THE TAX INCREMENT FINANCING PLAN FOR THE URBAN VILLAGE TAX INCREMENT FINANCING DISTRICT; ESTABLISHING WITHIN THE RICHFIELD REDEVELOPMENT PROJECT AREA, RICHFIELD REDISCOVERED 1999 TAX INCREMENT FINANCING DISTRICT AND ADOPTING THE TAX INCREMENT FINANCING PLAN RELATED THERETO; ALL RELATING TO THE RICHFIELD REDISCOVERED NEW CONSTRUCTION PROGRAM Motion carried 4-0. This HRA Resolution appears as HRA Resolution No. 730 in HRA Resolution Book No. 6. HRA Meeting Minutes -5- September 20, 1999 Item #4 CdNSIDERATION OF RESOLUTION AUTHC3RIZI G FORM. OF TAX INCREMENT PLEDGE AGREEMENT WITH CITY OF RICHFIELD RELATING TO $1,700,Q40 GENERAL OBLIGATION TAXABLE TAX INCREMENT BONDS, SERIES 1'999A. HRA LETTER NO. 60 Acting Executive Director Devich reviewed HRA Letter No. 60 regarding a proposed resolution authorizing the form of a Tax Increment Pledge Agreement with the City of Richfield relating to $1,700,000 General Obligation Taxable Tax Increment Bonds, Series 1999A. Sid Inman, Ehlers & Associates, provided an amendment to the resolution adding the cunent Richfield Rediscovered T.I.F. District tax increments as pledged to pay principal and interest on the bonds. M/Helmberger, S/Stokes that the following HRA resolution as amended be adopted,. that it be spread in the HRA resolution book and that it be made part of these minutes: HRA RESOLUTION N0.731 RESOLUTION AUTHORIZING THE FORM OF A TAX INCREMENT PLEDGE .AGREEMENT WITH THE CITY OF RICHFIELD RELATING TO $1,700,000 GENERAL OBLIGATION TAXABLE TAX INCREMENT BONDS, SERIES 1999A Motion carried 4-0. This HRA Resolution appears as HRA Resolution No. 731 in HRA Resolution Book No. 6. Item #5 CONSIDERATI©N OF CITY COUNC L RESOLUTION AUTHORIZING Ct)NTINUED PARTICIPATION IN LIVABLE COMMUNITLES ACT PROGRAMS ADM'JNISTERED BY METROPOLITAN COUNCIL. HRA LETTER NO. 61 iLJ Acting Executive Director Devich reviewed HRA Letter No. 61 regarding the proposed HRA recommendation to the City Council to continue participation in the Local Housing Incentive Account Program under the Metropolitan Livable Communities Act for the year 2000. Larry Wozniczka, 6744 Wentworth Avenue, stated concerns about some of the Metropolitan Livable Communities Act housing goals regarding affordability and ownership. HRA Meeting Minutes -6- September 20, 1999 M/Stokes, S/Sandahl to recommend that the City Council adopt a resolution authorizing continued participation in the Local Housing Incentive Account Program under the Metropolitan Livable Communities Act for the year 2000. Motion carried 4-0. Item #6 CONSIDERATION aF RESOLUTION AUTHORIZING PURCHASE Of 7241 SECOND AVENUE UNDER RICHFIELD REDISCOVERED PROGRAM. HRA LETTER NO.62 Acting Executive Director Devich reviewed HRA Letter No. 62 regarding the proposed purchase of 7241 Second Avenue for the Richfield Rediscovered Program. M/Sandahl, S/Stokes 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: V~RA V~ESOLUTION N0.732 RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY LOCATED AT 7241 SECOND AVENUE FOR THE RICHFIELD REDISCOVERED PROGRAM Motion carried 4-0. This HRA Resolution appears as HRA Resolution No. 732 in HRA Resolution Book No. 6. Item 7# 'EXECUTIVE flIRECTOR REPORT None. Item #8 CLAIMS ANfl PAYROLL M/Sandahl, S/Stokes that the following claims and payrolls be approved: FIRSTAR BANK Section 8 Checks: 14103 -14208 $ 127,803.65 HRA Checks 20778 - 20796; 20997 - 21057 $ 381,369.13 1 Motion carried 4-0. HRA Meeting Minutes A'DJOURNM'ENT -7- The meeting was adjourned by unanimous Date Approved: October 78, 1999 1~, ~~ Thomas P. Ferber City Clerk 1 1 September 20, 1999 7:50 p.m. Harms Acting Executive Director ~'"