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HomeMy WebLinkAbout1988-01-12 Park Board PacketWE61NA 4801 WEST 50TH STREET, EDINA, MINNESOTA 55424 612-927-8861 EDINA PARK BOARD 7:30 p.m. January 1.2, 1988 Edina City Hall A G E N D A I. Approval of minutes of December 8, 1987, meeting II. Grove Street Open Space - Judy Semsch III. Hedberg/Edinborough Tax Increment and How it Works - Gordon Hughes IV. Recreation Report V. Other 0 • EDINBOROUGH OVERVIEW TAX INCREMENT FINANCING (T.I.F.) - NEW TAXES FROM NEW DEVELOPMENTS ARE DIVERTED TO EDINA TO REPAY BONDS WHICH WERE SOLD TO PAY FOR EDINBOROUGH PARK AND OTHER PUBLIC COSTS. EDINBOROUGH PUBLIC COSTS PARK COSTS * LAND * PARK EQUIPMENT * OUTDOOR PARK * DLVVTMa VAMC $9,000,000 CONDOMINIUM COSTS * LAND * UTILITIES * PARKING LOTS * LANDSCAPING * SIDEWALKS * OUTDOOR LIGHTING * WATERPROOFING * SAC GRANT LOAN * CONSTRUCTION INTEREST $4,000,000 + $2,000,000 $6,000,000 * REDUCED SELLING * 2ND MORTGAGES TO MODERATE INCOME PRICES OF ALL BUYERS CONDOS * MUST BE REPAID ON SALE - HIGH LAND COST - UNDERGROUND PARKING PAYMENTS TO CITY BY DEVELOPERS & RESIDENTS FOR PARK OPERATION DEVELOPERS - $835,000 HRA - $920,000 TOTAL $1,755,000 RESIDENTS $15/UNIT PER MONTH OFFICE $.21/SQ. FT. PER YEAR * ALL FUNDS USED FOR PARK OPERATION C" 3r - CD O F— OC U to 6 S cr L ILDW =) O = Y 61] O ca 1= m O co 09=1 W co O O D = W d N = W S7 WI= U' 1 •-� M .... ) W S S I a -X Q [D O W J O Q Z N N OC 1= W W CL. a W W GD [D Q Q CD ED C O cn O L 3r - CIA N W W ¢ ¢ W W Q 4 J ¢ cm O I.— Lt. O W U W W 2 W U 2 W .O u'a cr O cn W Y O m O N N 2 W Y Im m Z W O W J rD Z N — 1.L O W m Z Z W V cr- La W a m K O N cr W Y tlli m N 1:1] W W r W ar ca Z 1I In o- O O O O O 1 r 11 I 1— 1 N M O O O ¢_ M —i O m N P_ O 1 M 11 1 1--- O 1 P .-/ to N M N n 1 r 11 1 O= 1 m 1— N .-I 1 M) 11 ,n 1 /— Q 1 M f r r M M N 1 V7 tl w 1 1 1 • 11 CD 1 6 1 1 t N 11 to 1 1— 1 !It TY H 3.4 a.f i -a Tt T4 P 1P) N O 1Z 1 'I L 1 W 1 U Q 1 Z .O 1 r .r n .p N .p t9 O 1 r 11 Z I W 1 O t a t..) 1 W 1 N I 1 N .O O co u-) N -rN 1 r 11 1 M 11 1 1 N 11 1 1 1 1 11 W 1 O 1 2 1 It L 1 O 1 W 1 .O .D r Y r N m 1 -.O 11 O U 1 1 1 tY 1 �/ N 1 H 11 I tL 1 W 1 •2. 1 M t W Uf 1 N 1 1 1 1 m P m m m n O 1 /D 11 O 1 W 1 Z t cr 1 1 1 1 II CD 1 O 1 1 1 u o i W 1 W1 N N N P P rl A 1 P i1 I --I ED I .O O P O N O Ln i1CC • 1 . N n 1 W 1 m O m n .Q P N 1 m 11 D 1 } 1 N M N N N N M 1 N 11 Q 1 Q 1 1 11 t 1 11 fl7 1 O I Q I fr 1 O co III -4 O r r 1 N 11 i+ 1 S 1 •ti ..� ti 1 -01 N 1 ¢ 1 1 11 J i 1 1 11 Q 1 1— 1 W 1 1 J C I CO 1 1 1y! CO II'Y ¢ 1 Z ( M r 1n r r r M 1 O II L 1 / [Lnn 1 1 1 M 11 1 II I Q 1 M m N 1 O 11 It 1 2 1 1 11 1 1 1 1 11 1 1 It 1 ut 1 ti t M 11 1 O 1 1 II I .O 1 1 1 11 1 1 1 UI 1 V7 1af M r 1n 1 O I 1 M 11 I 11') [n 1 1-- 1 1 1 1 11 1 11 W 1 U 1 N I co .0 11 ¢ 1 O 1 1 r 11 O 1 1 1 1 li W 1 CD 1 ¢ 1 In 1 co pp P 1 N 11 1 M t 1 11 1 1 1 1 11 1 1 1 In 1 ^ N'] O O Co to h 1 O 11 1O 1 H N N ti N 1 M 11 1 N 1 1 •�-I 11 1 1 1 11 I— 1 I JJ 2 1 Q W Z 2C =W"Z 1 1 •�1 O .� ...I M .-1 1 N 11 W •...2! 1 ti —1 .-� ..r .-1 ../ .•1 w.1 1 co 11 X O O I 1 11 ¢ W W Q- a t 1 1 If � 1 Z I ¢ W O 2 D 1 1 M N9 i N N C-4 N r%4 N N 11 W W Z 1 1 11 K W N 1 W 1 to .O .Q ,p .p I V'f 1 N 11 3a Z 1.1_ J 1 r IA IA n Ifi O C Q Z Cn 1 1 1 M 11 1 11 WI= U' 1 •-� M .... ) W S S I a -X Q [D O W J O Q Z N N OC 1= W W CL. a W W GD [D Q Q CD ED C O cn O L 3r - CIA N W W ¢ ¢ W W Q 4 J ¢ cm O I.— Lt. O W U W W 2 W U 2 W .O u'a cr O cn W Y O m O N N 2 W Y Im m Z W O W J rD Z N — 1.L O W m Z Z W V cr- La W a m K O N cr W Y tlli m N 1:1] W W r W ar ca Z