HomeMy WebLinkAbout2022-12-08 HRA Regular Meeting MinutesMINUTES
OF THE REGULAR MEETING OF THE
EDINA HOUSING AND REDEVELOPMENT AUTHORITY
DECEMBER 8, 2022
7:30 A.M.
I. CALL TO ORDER
Vice Chair Anderson called the meeting to order at 7:34 a.m. then explained the processes created
for public comment.
11. ROLLCALL
Answering rollcall were Commissioners Jackson, Pierce, Staunton, and Vice Chair Anderson.
Absent: Chair Hovland.
Ili. PLEDGE OF ALLEGIANCE
IV. MEETING AGENDA APPROVED - AS PRESENTED
Motion by Commissioner Pierce, seconded by Commissioner Jackson, approving the
meeting agenda as presented.
Roll call:
Ayes: Anderson, Jackson, Pierce, and Staunton
Motion carried.
V. COMMUNITY COMMENT
No one appeared.
VI. CONSENT AGENDA ADOPTED - AS PRESENTED
Member Jackson made a motion, seconded by Member Staunton, approving the
consent agenda as presented:
V.A. Approve Draft Minutes of the Regular Meeting of November 17, 2022
V.B. Approve 2023 Calendar of Meeting and Religious Observance Dates
V.C. Approve Entering into a Master Services Agreement with The Financial Services
Consulting Group
V.D. Request for Purchase, Change Order #1 Eden Avenue Landscaping, awarding
the bid to the recommended low bidder, Peterson Companies, to change
substantial completion date to June I, 2023
V.E. Request for Purchase, Change Order #1 Eden Avenue Improvements, awarding
the bid to the recommended low bidder, S.M. Hentges and Sons, to change
substantial completion date to June I, 2023
V.F. Request for Purchase, Change Order#1 Grandview Pedestrian Bridge, awarding
the bid to the recommended low bidder, Pember Companies, to change
substantial completion date to July 28, 2023
Rollcall:
Ayes: Anderson, Jackson, Pierce, and Staunton
Motion carried.
VII. REPORTS AND RECOMMENDATIONS
VII.A. REDEVELOPMENT AGREEMENT FOR MULTIFAMILY HOUSING AT 4620 WEST
77TH STREET — APPROVED
Affordable Housing Development Manager Hawkinson said this item pertained to the use of public
financing to partially fund private redevelopment at 4620 West 77th Street. She shared comments
made by the Federal Reserve Bank of Minneapolis regarding the increasing cost of housing and its
impact to the Twin Cities economy then requested the Commission consider approval of the
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Minutes/HRA/December 8, 2022
redevelopment agreement for up to $9,351,000 in gap finance for 4620 West 77th Street. She said
the source of the loan would be Pentagon Park pooled TIF funds and SPARC. She reviewed the
current conditions of the site adjacent to the Fred Richards Park and the project that would include
276 new housing units with 28 units affordable at 50% AMI and an additional 110 units not to exceed
120% AMI. She shared more about the project that would include a public road, pedestrian and bike
baths to Fred Richards Park, then outlined the proposed funding, loan terms, public benefit of the
project, and proposed agreement in detail.
The HRA asked questions and provided feedback.
Motion by Commissioner Pierce, seconded by Commissioner Jackson, to approve the
Redevelopment Agreement for Multifamily Housing at 4620 West 771h Street as
presented.
Roll call:
Ayes: Anderson, Jackson, Pierce, and Staunton
Motion carried.
VII.B. AMENDMENTS TO NEW MULTIFAMILY AFFORDABLE HOUSING POLICY —
APPROVED
Ms. Hawkinson stated that based on the ever -changing housing market and after reviewing recent
housing proposals, staff proposed three changes to the New Multi -Family Affordable Housing Policy:
increase the Buy -in from $125,000 per unit to $175,000 per unit; require the inclusion of affordable
units if the top half of the density range is requested; and require cooperation with the City
designated compliance officer. She said the policy was initially approved in 2015 with changes that
had occurred over time which included rents and incomes adjusted annually, then reviewed the
proposed changes in detail.
Executive Director Neal shared background regarding being the first city in Minnesota to require a
buy -in amount and how over time developers were receptive to the amount and that $175,000 was
appropriate.
The HRA asked questions and provided feedback.
Motion by Commissioner Jackson, seconded by Commissioner Pierce, to approve the
proposed amendments to the new Multifamily Affordable Housing Policy as presented.
Roll call:
Ayes: Anderson, Jackson, Pierce, and Staunton
Motion carried.
Vlll. EXECUTIVE DIRECTOR'S COMMENTS — Received
IX. HRA COMMISSIONER COMMENTS — Received
X. ADJOURNMENT
Motion made by Commissioner Jackson, seconded by Commissioner Pierce, to adjourn
the meeting at 8:34 a.m.
Roll call:
Ayes: Anderson, Jackson, Pierce, and Staunton
Motion carried.
Respectfully submitted,
Scott Neal, Executive Di ector
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