HomeMy WebLinkAbout2019-03-19 HRA Special MeetingMINUTES
OF SPECIAL MEETING
OF THE EDINA HOUSING AND REDEVELOPMENT AUTHORITY
MARCH 19, 2019
IMMEDIATELY FOLLOWING THE REGULAR CITY COUNCIL MEETING
1. CALL TO ORDER
Chair Hovland called the HRA meeting to order at I 1:56 p.m.
11. ROLLCALL
Answering rollcall were Commissioners Anderson, Brindle, Fischer, Staunton, and Chair Hovland.
Absent: None.
111. APPROVAL OF MEETING AGENDA
Motion made by Commissioner Staunton seconded by Commissioner Brindle approving the
meeting agenda.
Ayes: Anderson, Brindle, Fischer, and Hovland
Motion carried.
IV. COMMUNITY COMMENT
None.
V. CONSENT AGENDA
Motion made by Commissioner Staunton seconded by Commissioner Fischer approving the
consent agenda.
V.A. APPROVE MINUTES OF REGULAR MEETING OF FEBRUARY 28, 2019
Ayes: Anderson, Brindle, Fischer, and Hovland
Motion carried.
VI. REPORTS/RECOMMENDATIONS — (Favorable vote of majority of HRA Board Members present to
approve except where noted).
VI.A. RESOLUTION NO. 2019-07; ESTABLISHING 72ND AND FRANCE TAX INCREMENT
FINANCING DISTRICT AND APPROVING A TAX INCREMENT FINANCING PLAN — ADOPTED
Economic Development Manager Neuendorf explained the City and Housing and Redevelopment Authority
proposed Redevelopment Agreement with France Equities, LLC to provide financial assistance using Tax
Increment Financing (TIF). He explained the proposed project and stated the item was discussed in detail during
the regular Council meeting earlier in the evening with Council approval of the preliminary rezoning and site
plan approval. Mr. Neuendorf outlined the financing terms and public benefits of the 7200-7250 France
Apartments described in the Term Sheet prepared by staff and approved by the City Council and HRA in
February. Ehlers and Associates, the City's public finance advisor, had prepared a Tax Increment Financing Plan
to establish the parameters of the new TIF District. He stated this Plan had been reviewed by the City's special
counsel for redevelopment matters — Dorsey & Whitney to ensure compliance with State Law.
Motion made by Commissioner Staunton seconded by Commissioner Brindle to adopt Resolution
No. 2019-07 establishing the 72nd and France Tax Increment District and approving a Tax
Increment Financing Plan.
Ayes: Anderson, Brindle, Fischer, and Hovland
Motion carried.
VII. CORRESPONDENCE
VII.A. Correspondence — None
VIII. HRA COMMISSIONERS' COMMENTS - None
Page I
Scott Neal, Executiv Director
Minutes/HRA/March 19, 2019
IX EXECUTIVE DIRECTOR'S COMMENTS - None
X. ADJOURNMENT
There being no further business on the HRA Agenda, Chair Hovland declared the meeting adjourned at I 1:59
p.m.
Respectfully submitted,
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