HomeMy WebLinkAbout1989-06-19 HRA Regular Meeting MINUTES OF THE JOINT MEETING OF THE
EDINA HOUSING AND REDEVELOPMENT AIITHORITY/CITY COUNCIL
HELD AT EDINA CITY HALL
JUNE 19, 1989
A joint meeting of the Edina Housing and Redevelopment Authority and the City
Council was convened to consider concurrently: 1) Edina Homestead Development, and
2) Release of Reverter - Centennial Lakes Plaza. Action was taken by the HRA and
Council as required and recorded.
ROLLCALL Answering rollcall were Commissioners/Members Kelly, Paulus, Rice, Smith
and Richards.
MINUTES of the Joint HRA/Council Meeting of May 1, 1989 were approved as submitted
by motion of Commissioner/Member Smith, seconded by Commissioner/Member Paulus.
Ayes: Kelly, Paulus, Rice, Smith, Richards
Motion carried.
EDINA HOMESTEAD DEVELOPMENT - RPI SERVICES - Motion was made by
Commissioner/Member Smith, and seconded by Commissioner/Member Kelly to continue
the public hearing on final rezoning, final plat and tax increment financing
assistance for Edina Homestead Development to the meeting of July 10, 1989.
Ayes: Kelly, Paulus, Rice, Smith, Richards
Motion carried.
RELEASE OF REVERTER - CENTENNIAL LAKES PLAZA AUTHORIZED Executive Director
Hughes recalled that the Centennial Lakes Redevelopment Agreements include a
reverter clause on all private developments. Pursuant to this provision, the
ownership of private properties reverts to the Edina HRA in the event that private
development is not started, or if started, it does not proceed to completion. The
retail developer is now requesting that the reverter, as it relates to Centennial
Lakes Plaza, be released.
Staff believes that this request is reasonable, given the fact that construction
has started or will shortly start on all phases of the retail project. Therefore,
the likelihood that the reverter would be exercised at this stage of construction
is extremely remote. It is recommended that the reverter be released with respect
to the Centennial Lakes Plaza property upon issuance of the final building permit
for this project.
Commissioner Smith introduced the following resolution and moved adoption:
RESOLUTION
BE IT RESOLVED by the Housing and Redevelopment Authority of Edina, Minnesota,
that it hereby waives and releases the reverter clause included in the
redevelopment agreement for Centennial Lakes as it pertains to the Centennial
Lakes Plaza project. Motion for adoption of the resolution was seconded by
Commissioner Rice.
Ayes: Kelly, Paulus, Rice, Smith, Richards
Resolution adopted.
There being no further business on the joint HRA/Council agenda, motion of
Commissioner Rice was seconded by Commissioner Smith for adjournme of the HRA.
Motion carried unanimously.
x t' Director
Acting ity Clerk