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HomeMy WebLinkAbout2022-04-07 HRA Regular Meeting MinutesMINUTES OF THE REGULAR MEETING OF THE EDINA HOUSING AND REDEVELOPMENT AUTHORITY APRIL 7, 2022 7:30 A.M. 1. CALL TO ORDER Acting Chair Anderson called the meeting to order at 7:40 a.m. then explained the processes created for public comment. 11. ROLLCALL Answering rollcall were Commissioners Jackson (arrived at 7:54 a.m.), Pierce, Staunton, and Acting Chair Anderson. Absent: Chair Hovland. III. PLEDGE OF ALLEGIANCE IV. MEETING AGENDA APPROVED - AS PRESENTED Motion by Commissioner Staunton, seconded by Commissioner Pierce, approving the meeting agenda as presented. Roll call: Ayes: Commissioners Pierce, Staunton, and Acting Chair Anderson Motion carried. V. COMMUNITY COMMENT No one appeared. VI. CONSENT AGENDA ADOPTED - AS PRESENTED Member Staunton made a motion, seconded by Member Pierce, approving the consent agenda as presented: VI.A. Approve Minutes of the Regular Meeting March 3, 2022 VI.B. Approve Payment of Claims for HRA Check Register dated March 2, 2022, totaling $1,171,806.15 VI.C. Approve 2021 Affordable Housing Compliance Report Rollcall: Ayes: Commissioners Pierce, Staunton, and Acting Chair Anderson Motion carried. VII. REPORTS/RECOMMENDATIONS VII.A. APPROVE 4040 WEST 70T" STREET - REDEVELOPMENT AGREEMENT FOR TAX INCREMENT FINANCING - APPROVED Affordable Housing Manager Hawkinson said this item pertained to the use of public financing to partially fund private redevelopment at 4040 West 70th Street and that special counsel at Dorsey and Whitney had prepared a complete Redevelopment Agreement based on the term sheet presented to the Edina HRA in March 2022 and to the City Council on April 19, 2022. She explained that if approved up to $2.8 million would be secured then noted the developer was waiting on the outcome of one source of funding from Hennepin County which would not be known until May but would be needed to develop the project. She explained the action would approve the redevelopment agreement describing the terms Page 1 Minutes/HRA/April 7, 2022 of the TIF financing and gap loan of up to $1,503,000 pay -go note and up to $1,336,901 in a deferred loan then spoke about the identified need for senior housing based on based on community input and research that included a demand for 1,600 senior units by 2030 that would include 300 units shallow subsidized and another 300 units deeply subsidized in some form of rental assistance. Ms. Hawkinson spoke about the current interest in the project that was occurring without any marketing and that of the 73 people on an interest list approximately 74% were current Edina residents. She shared about the development team and the Edina Housing Foundation's involvement through the 99-year ground lease then shared more about the public benefit of this project. The Board asked questions and provided feedback. Chuck Armstrong, Director of Independent and Affordable Living for Ecumen, spoke about the tenant selection plan that included income verification and background investigation of applicants and compliance with all files and activities as required. Anne Stenfield, Ecumen, clarified about the supportive housing classification partnership with Simpson Housing to support six tenant units with rental assistance through supportive housing services to ensure housing stability at 30% AMI. Member Pierce made a motion, seconded by Member Jackson, to approve the term sheet and authorize staff to work with legal and financial advisors to prepare a binding redevelopment agreement based on the approved terms for 4040 West 70`h Street. Roll call: Ayes: Commissioners Jackson, Pierce, Staunton, and Acting Chair Anderson Motion carried. VII.B. ADOPT RESOLUTION NO. 2022-04; AUTHORIZING SALE OF LAND TO WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST - ADOPTED Ms. Hawkinson shared that on March 3 a Public Hearing was held regarding the sale of 425 Jefferson Avenue to West Hennepin Affordable Housing Land Trust. She stated the house would be fully renovated or if renovation was deemed infeasible the house would be demolished a replaced with a new one. She explained the land would be placed into a land trust and the house sold to an income eligible homeowner which would remain affordable for 99 years. She said the property at 425 Jefferson was acquired by the HRA in 2021 because it was a vacant nuisance property with the intention to acquire, address the exterior nuisance conditions, then sell for affordable housing. Brenda Lano-Wolke, West Hennepin Affordable Housing Land Trust, spoke about the current waiting list for these types of homes and how many wish to live in Edina because what the community had to offer including good transportation and schools. The Board asked questions and provided feedback. Member Staunton made a motion to adopt Resolution No. 2022-04 authorizing the sale of land to West Hennepin Affordable Housing Land Trust as presented. Seconded by Member Jackson. Page 2 Minutes/HRA/April 7, 2022 Roll call: Ayes: Commissioners Jackson, Pierce, Staunton, and Acting Chair Anderson Motion carried. Vlll. HRA COMMISSIONERS' COMMENTS — Received IX. EXECUTIVE DIRECTOR'S COMMENTS — Received IX.A. REDEVELOPMENT PROJECT UPDATE X. ADJOURNMENT Motion made by Commissioner Jackson, seconded by Commissioner Staunton, to adjourn the meeting at 8:24 a.m. Roll call: Commissioners Jackson, Pierce, Staunton, and Acting Chair Anderson Motion carried. Respectfully submitted, Scott Neal, Executive Director Page 3