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11-20-2000 CALL TO ORDER HOUSING AND REDEVELOPMENT AUTHORITY MEETING MINUTES Richfield, Minnesota Regular Meeting November 20, 2000 The meeting was called to order by Chair Harms at 7:00 p.m. ROLL CALL H{~4 Members Present: Thomas Harms; Joan Helmberger; Michael Sandahl and Dan Linnihan. HRA Members Not Present: Kristal Stokes. Staff Present: Samantha Orduno, Executive Director; Steven Devich, Acting City Clerk; Bruce Palmborg, Community Development Director; Bruce Nordquist, Housing and Redevelopment Manager; and John Dean, City Attorney. APPROVAL OF MINUTES M/Helmberger, S/Sandahl to approve the minutes of the Regular HRA Meeting of October 16. 2000. Motion carried 4-0. HF~A Meeting Minutes -2- November 20, 2000 F~tem #'1 OPPORTUNITY FOR CiTtZENS TO A©©RESS TH'E HRA No wished to address the HRA. Item #2 HRA APPROVAL OF AGENC?A Executive Director Orduno stated that the agenda was to be modified so that Items 4, 5, 6 and 7 be continued to November 27, 20D0 at 5 p.m. M/Sandahl, S/Linnihan to approve the agenda as modified. Motion carried 4-0. Item #3 CONSENT CALENQAR A. Approved concept of leasing property at 7200 Cedar Avenue to Steve Jensen, owner of The Transmission Shop and Smith & Nielsen S.R. No. 68 B. Approved resolution authorizing eminent domain proceedings to acquire certain real properties S.R. No. 69 RESOLUTION NO. 787 RESOLUTION AUTHORIZING EMINENT DOMAIN PROCEEDINGS TO ACQUIRE CERTAIN REAL PROPERTIES This HRA Resolution appears as HRA Resolution No. 787 in HRA Resolution Book No. 6. C. Approved resolution approving appraised value of properties in pending condemnation actions S.R. No. 70 RESOLUTION NO. 788 RESOLUTION APPROVING APPRAISED VALUES OF PROPERTIES IN PENDING CONDEMNATION ACTIONS This HRA Resolution appears as HRA Resolution No. 788 in HRA Resolution Book No. 6. 1 1 FiRA Meeting Minutes -3- M/Sandahl, S/Fielmberger to approve the consent calendar. Motion carried 4-0. Item #4 CONSIDERATION OF' IRST AMENDMENT TO CONTRACT FOR. PRIVATE DEVELOPMENT WITH BESTBUY CO., INC. S. R. NO. 71 November 20, 2000 Consideration of first amendment to contract for private development with Best Buy Co., Inc. to be continued to November 27, 2000 ~t 5 p.m. Item #5 PUBLIC HEARING REGARI:IING RESOLUTION AUTHORIZING ADOPTION OF BUSINESS SUBSIDY AGREEMENT WITH BEST BUY, CO., INC. S. R. NO. 72 Public hearing regarding resolution authorizing adoption of business subsidy agreement with Best Buy Co., Inc. to be continued to November 27, 2000 at 5 p.m. Item #6 CONSIDERATION OF RESOLUTION REGARDING APPROVAL OF MODIFIGATION TO TAX ING'REMENT FINANCING PLAN FOR INTERCWANGE WEST AND LYNDALE GATEWAY TAX INCREMENT FINANCING DISTRICT S. R. NO.73 Consideration of resolution regarding approval of modification to Tax Increment Financing Plan for Interchange iNest and.Lyndale Gateway Tax Increment Financing ®istrict to be continued to November 27, 2000 at 5 p.m. Item #7 PUBLIC HEARING REGARDING RESOLUTION AUTHORIZING ADOPTION OF BUSINESS SUBSIDY AGREEMENT WITH CSM INVESTORS II, INC. RELA r ED TO DEVELOPMENT WITHIN LYNDALE GATEWAY REDEVELOPMENT AREA S. R. NO. 74 Public hearing regarding resolution authorizing adoption of business subsidy agreement with CSM Investors II, Inc. related to development within Lyndale Gateway Redevelopment Area to be continued to November 27, 2000 at 5 p.m. HRA Meeting Minutes ~4- November 20, 2000 Item #8. CONSIDERATION'. OF MO'DLFIED PRECONDITIONS AND 34-DAY EXTENSION. TO-:RESPOND TO HRA ON MO131FIED PRECONDITIONS AND CONTINUE PUBLIC HEARING FOR BUSINESS SUBSIDY AGREEMENT FOR CITY BELLA TO DECEMBER 18, 2044 S. R. NO.75 Housing and Redevelopment Manager Nordquist reviewed Staff Report No. 75 regarding consideration of modtfiedpreco:nditions and 30-dey extension to respond to HRA on modified preconditions and continue a public hearing for the Business Subsidy Agreement for City Bella to December 1$, 2000. Chair Harms asked if Mr. Nordquist felt the developer will move. forward with due diligence. Mr. Nordquist_ responded that he felt they would. M/San~la#~I, S/4.innihan to apthorize_mQdifted preconditions and a 30-day extension Bella to 7 p.m., Mondays December 'I8. 2000. Motion carried 4-0. Item #9 PRESENTATION OF FINANCIAL REPORTING ANALYSIS TAX INCREMENT DISTRICTS FOR LHN, lLN AND CABA PREPARED BY HLB TAUTGES REDPATH, LTD.; AND CONSIDERATION OF RESC}LUTION APPROVING AND RATIFYING FINANCIAL TRANSACTIONS RELATED TO CERTAIN' TAX INCREMENT FINANCING DISTRICTS S. R. N0. 76 Community Development Director Pelmborg reviewed Staff Report No. 76 regarding presentation of financial reporting analysis Tax InGreirnent Districts for LHN, ILN and CABA prepared by HLB Tautges RedRatl't, ltd., and consi~gratis~~ pf a resolution approving and ratifying financial transactions r~l~#ed #o ~ertairt Tax Increment Financing Districts. Mr. Palmborg introduced Rob Tautges who reviewed the report in greater detail with the I-IRA. Mr. Tautges reviewed the specific recommendations that are contained on page 5 of the report. 1 M/Sandahl, 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: 1 HRA Meeting. Minutes -5- November 20, 2000 HRA RESOLUTION NO. 789 RESOLUTION APPROVING AND RATIFYING FINANCIAL TRANSACTION RELATED TO CERTAIN TAX INCREMENT FINANCING DISTRICTS Motion carried 4-0. This HRA Resolution appears as HRA Resolution No. 789 in HRA Resolution Book No. 6. Item #10 PRESENTATION OF RICHFIELD HOUSING AND REDEVELOPMENT AUTHORITY TAX INCREMENT'DISTRLCT STATUS UPDATE S. R. NO. 77 Community Development Director Palmborg reviewed Staff Report No. 77 regarding presentation of Richfield Housing and Redevelopment Authority Tax Increment District Status Report. Sid Inman, Ehlers/Publicorp, Inc., made a more detailed presentation of the status update report. He stated that in 2002 when the LHN is closed and the taxes begin flowing to the taxing jurisdictions, the City will receive approximately $450,000 in additional taxes. Mr. Inman stated that the City's TIF Districts are in a very good financial position. M/Sandahl, S/Helmberger to accept the Richfield Housina and Rede_ velopment Authority Tax Increment District Status Update. ~ _ ` Motion carried 4-0. Item #11 PUBLIC HEARING AND CONSIDERATION OF RESOLUTION ADOPTING 2001 HRA BUDGET AND PROPERTY TAX LEVY FOR 20n'1 AND RESOLUTION ADOPTING REVISION OF 20Qn HRA BUDGET S. R. NO. 78 Administrative Services Director Steven Devich reviewed Staff Report No. 78 regarding consideration of a resolution adopting 2001 HRA budget and property tax levy for 2001 and a resolution adopting the revision of 2000 HRA budget. M/Sandahl, S/Linnihan to close the public hearing.. -~ Motion carried 4-0. M1Sandahl, 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 Meeting Minutes. -6- November 20, 2000 RESOLUTION NO. 790 RESOLUTION ADOPTING 2001 HOUSING AND REDEVELOPMENT AUTHORITY BUDGET AND CERTIFYING THE X001 TAX LEVY Motion carried_4-0. This HRA Resolution appears as HRA Resolution No. 790 in HRA Resolution Book No. 6. M/Helmberger, S/Linnihan that the followinc1HRA resolution be adopted, that it be spread in the H~tA resolution book and that it ,be made part of these minutes: RESOLUTION N0.791 RESOLUTION AUTHORIZING REVISION OF THE 2000 BUDGET OF THE HOUSING AND REDEVELOPMENT AUTHORITY OF RICHFIELD Motion carried 4-0. This HRA Resolution appears as HRA Resolution No. 791 in HRA Resolution Book No. 6. Item #12 EXECUTIVE. DIRECTOR REPORT' None. Item #13 CLAIMS AND PAYROLL M/Sandah. I, S/Linnihan that the following claims and payrolls be approved: FIRSTAR BANK Section 8 Checks: 101183-101298 $ 133,553.38 H RA Checks: 24569-24591; 24912-24972 $ 324,191.78 Motion carried 4-0. 1 HRA Meeting Minutes -7- November 20, 2000 ADJOURNMENT The meeting was adjourned by unanimous co Date Approved: December 18, 2000 Steven L. Devic Acting City Clerk 1 7:35 p.m. vr~uno Director