031725 EDA 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
MAR C H 17, 2025
7:15 PM (I MME D I AT ELY FO L L OWI NG THE HRA ME ETI NG)
C all to Order
C onsider the election of officers for the Richfield E conomic D evelopment A uthority for 2025.
S taff Report No. 2
Open F orum
P lease refer to the E D A agenda and minutes web page for additional ways to submit comments.
Approval of the Minutes
A pproval of the minutes of the Regular E conomic D evelopment A uthority meeting of F ebruary 18, 2025.
AG E N D A APPR O VAL
1.A pproval of the A genda
2.Consent Calendar contains several separate items which are acted upon by the E D A in one motion.
Once the Consent Calendar has been approved, the individual items and recommended actions have
also been approved. No further E D A action on these items is necessary. However, any E D A
Commissioner may request that an item be removed from the Consent Calendar and placed on the
regular agenda for E D A discussion and action. All items listed on the Consent Calendar are
recommended for approval.
A .C onsider resolutions designating official depositories for the E conomic D evelopment A uthority for 2025,
including the approval of collateral.
S taff Report No. 3
3.C onsideration of items, if any, removed from C onsent C alendar
R E S O L U T IO N S
4.C onsider the adoption of a resolution amending the B ylaws of the E conomic D evelopment A uthority to clarify
special meeting procedures.
S taff Report No. 4
E D A D ISC U SSIO N IT E MS
5.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
6.E xecutive D irector's Report
C LAIMS AN D PAYR O L LS
7.C laims
8.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. 2
ECONOMIC DEVELOPMENT AUTHORITY
MEETING
3/17/2025
LaTonia DuBois, Administrative AssistantREPORT PREPARED BY:
EXECUTIVE DIRECTOR REVIEW: Melissa Poehlman, Executive Director
3/8/2023
ITEM FOR COUNCIL CONSIDERATION:
Consider the election of officers for the Richfield Economic Development Authority for 2025.
EXECUTIVE SUMMARY:
The Bylaws of the Richfield Economic Development Authority (EDA) provide that the EDA hold an annual
meeting in March. The Bylaws further provide that the EDA elect the President, Treasurer, and Secretary
annually.
Officers for 2024 were:
Erin Vrieze Daniels, President
Gordon Hanson, Vice President
Sean Hayford Oleary, Treasurer
Dustin Leslie/Vacant, Secretary (not required to be an EDA Commissioner)
Kumud Verma, Assistant Treasurer (not required to be an EDA Commissioner)
RECOMMENDED ACTION:
By motion: Elect officers for the Richfield Economic Development Authority for 2025.
BASIS OF RECOMMENDATION:
A.HISTORICAL CONTEXT
Provided in the Executive Summary.
B.EQUITABLE OR STRATEGIC CONSIDERATIONS OR IMPACTS
N/A
C.POLICIES (resolutions, ordinances, regulations, statutes, exc):
The EDA Bylaws provide for the election of officers.
D.CRITICAL TIMING ISSUES:
The EDA Bylaws require that an election of officers be held at the annual meeting in March.
E.FINANCIAL IMPACT:
N/A
F.LEGAL CONSIDERATION:
N/A
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
ECONOMIC DEVELOPMENT
AUTHORITY MEETING MINUTES
Richfield, Minnesota
Regular Meeting
February 18, 2025
President Vrieze Daniels called the meeting to order at 7:12 PM in the Council Chambers.
EDA Members Erin Vrieze Daniels, President; Mary Supple; Sean Hayford Oleary; Gordon
Present: Hanson; John Young
EDA Members Absent: None.
Staff Present: Melissa Poehlman, Executive Director; Julie Urban, Assistant Community
Development Director; Mark McKinley, Administrative Assistant
OPEN FORUM
President Vrieze Daniels gave instructions on how to participate in the open forum, there were no
participants.
APPROVAL OF THE MINUTES
MOTION: made by Hanson, seconded by Hayford Oleary to approve the minutes of the Regular Economic
Development Authority meeting of December 16, 2024.
Motion carried: 5-0
ITEM #1 APPROVAL OF THE AGENDA
MOTION: made by Hayford Oleary, seconded by Supple to approve the agenda.
Motion carried: 5-0
ITEM #2
CONSIDERATION OF A REQUEST FOR APARTMENT REMODELING LOANS FOR
REHABILITATION WORK AT THREE AFFORDABLE RENTAL COMMUNITIES BEING
PRESERVED AND REHABILITATED BY HEMPEL REAL ESTATE, DBA HEMPEL
HOLDINGS, LLC
Assistant Community Development Director Urban presented the staff report.
Commissioner Supple asked to confirm the $200,000 requested will be used for repairs related to tenant
safety.
Assistant Community Development Director Urban explained repair estimates are ongoing but feels timing
works well with anticipated upcoming repayments.
CALL TO ORDER
EDA Meeting Minutes February 18, 2025
President Vrieze Daniels asked to confirm the loan repayment is occurring because of these three
communities being sold.
Assistant Community Development Director Urban confirmed loan history.
MOTION: made by Supple, seconded by Hayford Oleary to adopt a resolution authorizing Hempel
Holdings, LLC to apply for one additional Apartment Remodeling Loan per property for New Orleans Court,
Richfield Court, and Winton House up to a total amount of $200,000.
Motion carried 5-0
ITEM #3 EDA DISCUSSION ITEMS
None.
ITEM #4 EXECUTIVE DIRECTOR’S REPORT
None.
ITEM #5 CLAIMS
MOTION: made by Young, seconded by Hanson that the following claims be approved:
U.S. BANK January 21, 2025
EDA Check #23633-23651 $44,613.44
TOTAL $44,613.44
U.S. BANK February 18, 2025
EDA Check #23652-23667 $35,780.02
TOTAL $35,780.02
Motion carried: 5-0
ITEM #8 ADJOURNMENT
This meeting was adjourned by unanimous consent at 7:18 p.m.
Date Approved: March 17, 2025
Erin Vrieze Daniels
EDA President
Mark McKinley Melissa Poehlman
Administrative Assistant Executive Director
AGENDA SECTION:Consent Calendar
AGENDA ITEM #2.A.
STAFF REPORT NO. 3
ECONOMIC DEVELOPMENT AUTHORITY
MEETING
3/17/2025
Mary Bogie, Finance DirectorREPORT PREPARED BY:
EXECUTIVE DIRE CTOR RE VIEW: Melissa Poehlman, Executive Director
ITEM FOR COUNCIL CONSIDERATION:
Consider resolutions designating official depositories for the Economic Development Authority for
2025, including the approval of collateral.
EXECUTIVE SUMMARY:
In compliance with Minnesota statutes, the Economic Development Authority (EDA) of Richfield must
designate on an annual basis those financial institutions it does business with.
The attached resolutions for the EDA's consideration, designate U.S Bank/4M Fund as a depository of EDA
funds, and certain savings and loan associations, banks, credit unions and certain financial institutions as
depositories for the investment of EDA funds.
RECOMMENDED ACTION:
By motion: Adopt the attached resolutions designating official depositories, with the understanding
that the Economic Development 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 and 469.099, the EDA 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 EDA’s banking arrangement with the 4M Fund. Monies
received, checks written, by the EDA, flow through U.S. Bank, however, at the end of each business
day, any proceeds remaining in EDA U.S. Bank accounts are swept to the 4M Fund to be invested.
Therefore, at the end of the business day the EDA 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 EDA’s vendor
accounts and all savings deposits.
The EDA must also designate annually, certain savings and loan associations, banks, and credit unions
as official depositories for deposit and investment of certain EDA funds. With approval of these official
3/7/2025
depositories, the EDA 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
EDA funds for 2025. 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 the 4M Fund.
D.CRITICAL TIMING ISSUES:
N/A
E.FINANCIAL IMPACT:
N/A
F.LEGAL CONSIDERATION:
The EDA is required by Minnesota Statute 118A.01 - 118A.06 and 469.099, to designate as a
depository of funds, insured banks or thrift institutions. Any collateral so deposited is accompanied by an
assignment pledged to the EDA in the amount specified in the attached resolutions.
ALTERNATIVE RECOMMENDATION(S):
None.
PRINCIPAL PARTIES EXPECTED AT MEETING:
N/A
ATTACHMENTS:
Description Type
Resolution US Bank Depository 2025 Resolution Letter
Resolution Investment Depositories 2025 Resolution Letter
Resolution Other Depositories 2025 Resolution Letter
RESOLUTION NO. 56
RESOLUTION DESIGNATING U.S. BANK
A DEPOSITORY OF FUNDS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF
RICHFIELD FOR THE YEAR 2025
BE IT RESOLVED, by the Economic Development 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 Economic
Development Authority of Richfield, subject to modification and revocation at any time
by said Economic Development 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 Economic Development 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;
PRESIDENT
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 Economic Development Authority of Richfield, Minnesota this
17th day of March, 2025.
President
ATTEST:
Executive Director
RESOLUTION NO. 57
RESOLUTION DESIGNATING CERTAIN FINANCIAL
INSTITUTIONS AS DEPOSITORIES FOR THE INVESTMENT OF
ECONOMIC DEVELOPMENT AUTHORITY OF RICHFIELD FUNDS IN 2025
WHEREAS, the Economic Development 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 Economic Development 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 Economic
Development Authority of Richfield providing greater flexibility in the investment
program and maximize interest income thereon.
NOW, THEREFORE, BE IT RESOLVED, by the Economic Development 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 Economic Development Authority of Richfield funds that
certain financial institutions be designated as additional depositories for
Economic Development Authority of Richfield funds for 2025.
2.The following financial institutions designated as depositories for the Economic
Development 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 Economic
Development 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 Economic
Development 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 Economic Development Authority of Richfield, Minnesota this 17th day
of March, 2025.
President
ATTEST:
Executive Director
RESOLUTION NO. 58
RESOLUTION DESIGNATING CERTAIN SAVING AND LOAN ASSOCIATIONS,
BANKS AND CREDIT UNIONS AS DEPOSITORIES FOR THE INVESTMENT OF
ECONOMIC DEVELOPMENT AUTHORITY OF RICHFIELD FUNDS IN 2025
BE IT RESOLVED, by the Economic Development 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 Economic Development Authority funds in Savings
and Loan Associations and Banks would provide greater flexibility in the Economic
Development Authority’s investment program and maximize interest income thereon.
NOW, THEREFORE, BE IT RESOLVED, by the Economic Development
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 Economic Development Authority funds that certain Savings
and Loan Association and Banks be designated as additional depositories for
Economic Development Authority funds for 2025.2.It is further found and determined that the purpose of such depository
designation is to facilitate the proper and advantageous investments of
Economic Development Authority funds and that such designation is not
exclusive nor does it preclude the deposit of any Economic Development
Authority funds in other officially designated depositories of the Economic
Development Authority.3.The Finance Director is hereby authorized to deposit Economic Development
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 Economic Development
Authority of Richfield on the signatures of the Economic Development
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 Economic Development 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 Economic
Development Authority regarding the investment of Economic Development
Authority funds.
Adopted by the Economic Development Authority of Richfield, Minnesota this 17th day
of March, 2025.
President
ATTEST:
Executive Director
AGENDA SECTION:RESOLUTIONS
AGENDA ITEM #4.
STAFF REPORT NO. 4
ECONOMIC DEVELOPMENT AUTHORITY
MEETING
3/17/2025
Melissa Poehlman, Executive DirectorREPORT PREPARE D BY:
EXECUTIV E DIRE CTOR RE VIEW:
ITEM FOR COUNCIL CONSIDERATION:
Consider the adoption of a resolution amending the Bylaws of the Economic Development Authority to
clarify special meeting procedures.
EXECUTIVE SUMMARY:
A review of the Economic Development Authority (EDA) Bylaws revealed that procedures related to
attendance at a special meeting were ambiguous and could be interpreted to read that all members of the
EDA must be present to conduct business. In consultation with the EDA Attorney, an amendment removing
the ambiguous language has been proposed.
Additionally, the amendment allows the Executive Director to call a special meeting and aligns the notification
period with the statutory requirement to post special meetings at least three days in advance.
RECOMMENDED ACTION:
By Motion: Adopt a resolution amending the Bylaws of the Richfield Economic Development Authority.
BASIS OF RECOMMENDATION:
A.HISTORICAL CONTEXT
EDA Bylaws were last updated in 2022.
B.EQUITABLE OR STRATEGIC CONSIDERATIONS OR IMPACTS
N/A
C.POLICIES (resolutions, ordinances, regulations, statutes, exc):
EDA Bylaws are reviewed routinely to ensure they are meeting current practice and statutory requirements.
D.CRITICAL TIMING ISSUES:
While no special meetings are currently scheduled, it's important for procedures to be established for the
conducting of business.
E.FINANCIAL IMPACT:
N/A
F.LEGAL CONSIDERATION:
EDA Legal Council has reviewed the proposed changes.
ALTERNATIVE RECOMMENDATION(S):
Melissa Poehlman, Executive Director
3/10/2025
Approve a modified version of the attached resolution to better reflect the direction of the Authority.
PRINCIPAL PARTIES EXPECTED AT MEETING:
None
ATTACHMENTS:
Description Type
Resolution Resolution Letter
EDA Bylaws - Redline Exhibit
EDA RESOLUTION NO. 59
RESOLUTION AMENDING THE BYLAWS OF THE ECONOMIC
DEVELOPMENT AUTHORITY OF THE CITY OF RICHFIELD, MINNESOTA
WHEREAS, the Economic Development Authority in and for the City of Richfield,
Minnesota (Authority) has established Bylaws; and
WHEREAS, from time to time it is appropriate for the Bylaws to be amended; and
WHEREAS, in accordance with Minnesota State Statutes, the Economic Development
Authority (Authority) shall adopt Bylaws and other rules for the conduct of its affairs; and
WHEREAS, in accordance with Minnesota State Statutes, the power of the Authority shall
be vested in its commissioners; a majority of which shall constitute a quorum for all purposes; and
WHEREAS, the Authority wishes to allow a special meeting to be called by the Executive
Director; and
WHEREAS, the Authority wishes to clarify that a quorum shall be sufficient to conduct
business at all meetings, including special meetings, of the Authority and that notice to Authority
Commissioners must be provided three days in advance of a special meeting.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
in and for the City of Richfield, Minnesota that its Bylaws be amended as follows:
Article III – Section 3 is amended to read:
Section 3. Special Meetings. Special meetings of the Authority may be called by the
Chairperson, two members of the Authority, or the Executive Director for the purpose of
transacting any business designated in the call. The call for a special meeting must be
delivered in person or electronically to each member at least three days prior to the time
of the proposed meeting.
Adopted by the Economic Development Authority in and for the City of Richfield,
Minnesota this 17th day of March 2025.
_________________________________
President
ATTEST:
__________________________
Executive Director
BYLAWS OF THE
RICHFIELD ECONOMIC DEVELOPMENT AUTHORITY
ARTICLE I – THE AUTHORITY
Section 1. Name of Authority. The name of the economic development authority shall be
the “Richfield Economic Development Authority” (the “Authority”).
Section 2. Seal of Authority. The seal of the Authority shall be in the form of a circle and
shall bear the name of the Authority.
Section 3. Office of Authority. The offices of the Authority shall be at City Hall in the City
of Richfield, Minnesota, but the Authority may hold its meetings at such other place or places as
it may designate by resolution.
Section 4. Official Newspaper. The official newspaper shall be the official newspaper
designated by the City as its official newspaper each year.
ARTICLE II – BOARD
Section 1. Number and Appointment of Commissioners. The Authority shall consist of a
governing body of five commissioners (the “Board”). Two commissioners shall be members of
the City Council and three commissioners shall be members at large. The terms of the
commissioners who are also members of the City Council shall coincide with their terms of office
as members of the City Council. The three at large commissioners shall be the three at large
commissioners of the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota (the “HRA”). The terms of the commissioners at large shall be six years. At any time
an at large commissioner of the Authority is not also a commissioner of the HRA, such
commissioner’s term on the Authority shall terminate.
ARTICLE III – OFFICERS
Section 1. Officers. The officers of the Authority shall be a President, Vice-President,
Treasurer, Secretary, and Assistant Treasurer, each of whom shall have the usual duties and
powers of such offices, the duties and powers given to them by the Board from time to time, and
those duties and powers prescribed by Minnesota law or these bylaws. The President, Treasurer,
and Secretary shall be elected annually by the Board. No commissioner may be both President
and Vice-President simultaneously. No commissioner may be both Treasurer and Assistant
Treasurer simultaneously. The Secretary and the Assistant Treasurer need not be
commissioners.
Section 2. President. The President shall preside at all meetings of the Board. Except
as otherwise authorized by resolution of the Board, the President shall sign all contracts, deeds,
and other instruments made or authorized by the Board. At each meeting the President shall
submit such recommendations and information as he or she may consider proper concerning the
business, affairs, and policies of the Authority.
Section 3. Vice-President. The Vice-President shall perform the duties of the President
in the absence or incapacity of the President. In case of the resignation or death of the President,
the Vice-President shall perform the duties of the President until such time as the Board shall
elect a new President.
Section 4. President Pro Tem. In the event of the absence or incapacity of both the
President and the Vice-President at any meeting, the Board may appoint any remaining
commissioner as President Pro Tem to preside at such meeting.
Section 5. Secretary. The Secretary shall keep the minutes of all meetings of the Board
and shall maintain all records of the Authority and shall have such other duties and responsibilities
as the Board may from time to time prescribe by resolution.
Section 6. Treasurer. The Treasurer shall have the care and custody of all funds of the
Authority and shall deposit the same in the name of the Authority in such national or state bank
or banks in Minnesota as the Board may select. The Treasurer shall sign all Authority orders and
checks for the payment of money and shall pay out and disburse such moneys under the direction
of the Board. The Treasurer shall keep regular books of accounts showing receipts and
expenditures and shall render to the Board, at least annually (or more often when requested), an
account of such transactions and also of the financial condition of the Authority by filing a detailed
financial statement with the Secretary. The Treasurer is responsible for the acts of the Assistant
Treasurer and must give bond as required by law.
Section 7. Assistant Treasurer. The Assistant Treasurer has the powers and duties of
the Treasurer if the Treasurer is absent or disabled.
Section 8. Executive Director. The Authority shall employ an Executive Director who shall
be the chief executive officer of the Authority and shall have general supervision over the
administration of the Authority’s business and affairs, subject to the direction of the Authority. He
or she shall have such additional responsibilities and authority as the Board may from time to time
by resolution prescribe. Regardless of who is appointed as Executive Director, 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 when the
Executive Director is absent or incapacitated.
Section 9. Other Administrative Officers. The Authority may designate a Recording
Secretary who shall keep the records of the Authority, shall act as recorder of the meetings of the
Authority and record all votes, and shall keep a record of the proceedings of the Authority in a
journal of proceedings to be kept for such purpose, and shall perform all duties incidental to his
or her office. He or she shall keep in safe custody the seal of the Authority and shall have power
to affix such seal to all contracts and instruments authorized to be executed by the Authority.
Section 10. Additional Employees. The Authority may from time to time such personnel
as it deems necessary to exercise its powers, duties, and functions, including but not limited to a
chief engineer, other technical experts and agents, and other employees. The selection and
compensation of such personnel shall be determined by the Board.
Section 11. Advisory Committees. The Authority may by resolution establish one or more
advisory committees to the Authority.
Section 12. Signature Authority. The following signature authority shall be authorized for
transactions executed under direction of the Board:
(A)All orders and checks of the Authority for payment of money as directed by
the Board shall be signed by the President and the Executive Director.
(B)All contracts, deeds, and other instruments made or authorized by the
Board, except as otherwise authorized by resolution of the Board, shall be signed by the
President and the Executive Director.
(C)The Vice-President shall have the capacity to sign as an alternate officer
of the Authority under extenuating circumstances such as lengthy executed absence,
vacancy, termination, resignation, incapacitation or death of the President or of the
Executive Director. The Vice-President may sign as an alternate for only one absent
individual for any Authority matter until the absent individual has returned or a successor
is appointed to fill the office. The Vice-President may not sign in the capacity of more than
one individual for any particular item requiring more than one signature. For purposes of
this definition, absent is defined as a period, usually significant in length, during which an
officer is away and/or unable to fulfill the officer’s role within the Authority leading to the
potential for business issues of the Authority to be delayed and/or deadlines to be missed.
ARTICLE IV – FINANCIAL MATTERS
Section 1. Fiscal Year. The fiscal year of the Authority shall be the same as the fiscal
year of the City.
Section 2. Accounting System and Audits; Books and Records. The financial records and
financial statements of the Authority shall be prepared, audited, filed, and published or posted in
the manner required for the financial statements of the City. The books and records of the
Authority shall be public records maintained in accordance with state law and with such rules,
regulations, and ordinances adopted by the City for maintaining public records.
Section 3. Public Money; Checks. All Authority money is public money. An Authority
check must be signed as provided in Section 12 under Article III – Officers. The check must state
the name of the payee and the nature of the claim for which the check was issued.
Section 4. Reports to the City. Annually, at a time and in a form fixed by the City Council,
the Authority shall make a written report to the City Council giving a detailed account of its
activities and of its receipts and expenditures during the preceding calendar year, together with
additional matters and recommendations the Authority deems advisable for the economic
development of the City. The Authority shall also submit a report to the City Council annually
within 60 days of the anniversary date of the adoption of the enabling resolution stating whether
and how the enabling resolution should be modified.
Section 5. Financial Statement. Annually, or more often, the Authority shall examine the
Treasurer’s detailed financial statement, together with the Treasurer’s vouchers, filed with the
Secretary. The financial statement must show all receipts and disbursements, their nature, the
money on hand, the purposes to which the money on hand is to be applied, the Authority’s credits
and assets, and the Authority’s outstanding liabilities in a form required for the City’s financial
statements. If the Authority finds that the statement and vouchers are correct, it shall approve
them by resolution and enter the resolution in its records.
Section 6. Budget to the City. The Authority shall annually, at a time fixed by the City,
send its budget to the City Council. The budget must include a detailed written estimate of the
amount of money that the Authority expects to need from the City to do Authority business during
the next fiscal year. The needed amount is what is needed in excess of any expected receipts
from other sources.
Section 7. Employees, Services, Supplies, and Contracts. The Authority shall have all of
the power and do all of the things permitted by Minnesota Statutes, Section 469.097, as amended,
including but not limited to employing an Executive Director, a chief engineer, technical experts
and other employees as it may require; contracting for the services of consultants, agents, public
accountants, legal services, and such other persons or services as it may need to perform its
duties and exercise its powers; purchasing supplies and materials; and using City facilities,
offices, and staff, including the City engineer and City attorney, in the exercise of its powers and
the performance of its duties.
Section 8. Execution of Contracts. The Authority may make and enter into contracts
pursuant to Minnesota Statutes, Section 469.101, as amended, and other applicable law. All
contracts, notes, and other written agreements or instruments to which the Authority is a party or
by which the Authority may be bound must be executed as provided in Section 12 under Article
III – Officers. If the president or the executive director is absent or otherwise unable to execute a
document, the vice president may execute the document in place of one individual but not both.
ARTICLE V – MEETINGS
Section 1. Annual Meeting. The annual meeting of the Authority shall be held at the
regular meeting in March immediately following the adjournment of the Housing and
Redevelopment Authority in and for the City of Richfield, Minnesota, which commences at 7:00
p.m. at the regular meeting place of the Authority.
Section 2. Regular Meetings. Monthly meetings shall be held without notice at the regular
meeting place of the Authority on the third Monday of each month immediately following the
adjournment of the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota, which commences at 7:00 p.m. unless the same shall be a legal holiday, in which
event said meeting shall be held on the next succeeding secular day.
Section 3. Special Meetings. Special meetings of the Authority may be called by the
President, or any two commissioners of the Authority, or the Executive Director for the purpose
of transacting any business designated in the call. The call for a special meeting must be
delivered in person or electronically to each member at least three days prior to the time of the
proposed meeting. may be delivered at any time prior to the time of the proposed meeting to each
member of the Authority or may be mailed to the business or home address of each commissioner
of the Authority at least two (2) days prior to the date of such special meeting. At such special
meeting no business shall be considered other than as designated in the call, but if all of the
members of the Authority are present at a special meeting, any and all business may be
transacted at such special meeting.
Section 4. Quorum. The powers of the Authority shall be vested in the commissioners
thereof in office from time to time. Three commissioners shall constitute a quorum for the purpose
of conducting its business and exercising its powers and for all other purposes, but a smaller
number may adjourn from time to time until a quorum is obtained. When a quorum is in
attendance, action may be taken by the Authority upon a vote of a majority of the commissioners
present.
Section 5. Rules of Order. The meetings of the Authority shall be governed by the latest
printed edition of “Sturgis Standard Code of Parliamentary Procedure.”
Section 6. Order of Business. At the regular meetings of the Authority the following shall
be the order of business:
1.Call to Order/Noting of Attendance.
2.Open Forum
3.Approval of Minutes of Previous Meeting(s).
4.Presentations.
5.Approval of Agenda.
6.Consent Agenda.
7.Public Hearings.
8.Resolutions.
9.Other Business.
10.EDA Discussion Items.
11.Executive Director’s Report.
12.Approval of Claims.
13.Adjournment.
All resolutions shall be in writing and shall be copied in the journal of the proceedings
of the Authority.
Section 7. Combining Administrative Offices; Compensation . The compensation
of the Executive Director and other personnel of the Authority shall be determined by
the Authority. Any two or more administrative offices may be combined.
Section 8. Additional Duties. The officers of the Authority shall perform such other duties
and functions as may from time to time be required by the Authority or the Bylaws or rules and
regulations of the Authority.
Section 9. Executive Director. The Executive Director shall be appointed by the Authority.
Any person appointed to fill the office of Executive Director or any vacancy therein, shall have
such term as the Authority fixes, but no commissioner of the Authority shall be eligible for this
office.
Section 10. Vacancies. A vacancy is created in the membership of the Authority when a
commissioner who is also a City Council member ends his or her City Council membership. A
vacancy for this or another reason must be filled for the balance of the unexpired term, in the
manner in which the original appointment was made. The City Council may set the term of the
commissioners who are members of the City Council to coincide with their term of office as
members of the City Council. Should the office of President, Vice-President, or Secretary become
vacant, the Authority shall elect a successor from its membership at the next regular meeting, and
such election shall be for the unexpired term of said office.
ARTICLE V – AMENDMENTS
Section 1. Amendments to Bylaws. The Bylaws of the Authority shall be amended only
with the approval of at least three of the members of the Authority at a regular or a special meeting.
Adopted: May 15, 2017
Amended: October 15, 2018
Amended: January 21, 2020
Amended: February 23, 2022