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Home My WebLink About2024-06-13 HRA Regular Meeting PacketAg enda E dina H ousing and R edevelopm ent Author ity City of E dina, Minnesota City Council Chambers Thursday, June 13, 2024 7:30 AM Watch the m eeting on cable TV or at EdinaMN.gov/LiveMeeting s or Facebook.com /EdinaMN. Par ticipate in Com m unity Com m ent: Call 312-535-8110 E nter access code 2632 480 5424 Password is 5454 Press *3 on your telephone keypad when you would like to g et in the queue to speak A sta6 m em ber will unmute you when it is your turn I.Call to Ord er II.Roll Call III.Pledge of Allegia n ce IV.Ap p roval of Meetin g Agen d a V.Com m unity Com m en t Du ring "Com m unity Com m en t," th e Edin a Housing and Redevelop m ent Au thority (HRA) will in vite resid ents to sh are new issues or con cern s tha t h aven't been con sid ered in th e p ast 30 da y s b y th e HRA or w h ich a ren't slated for fu ture consideration . Individ u als m u st lim it their com m ents to three m inutes. Th e Ch air m a y lim it the num ber of sp ea kers on th e sa m e issue in th e interest of tim e a n d topic. Gen era lly sp ea king, item s tha t are elsewhere on tod ay's a genda m a y not b e addressed d u ring Com m unity Com m en t. In d ividua ls sh ould not expect th e Ch air or Com m issioners to resp ond to th eir com m en ts toda y . Instead the Com m issioners m ight refer the m atter to sta. for consideration a t a fu ture m eeting. A.E xecu tive Director's Resp onse to Com m u n ity Com m ents VI.Ad option of Con sen t Agenda All a genda item s listed on the consent a genda a re con sid ered rou tin e and will be en acted by one m otion. There will be no sepa rate d iscussion of such item s unless requested to be rem oved from the Con sen t Agenda by a Com m ission er of the HRA. In su ch ca ses the item w ill b e rem oved from th e Consent Agen d a and con sid ered im m ediately follow ing the a d option of th e Consent Agen d a. (Fa vorable rollcall vote of m a jority of Com m issioners p resent to approve.) A.Dra ft Min u tes of Regular Meeting on Ma y 16, 2024 VII.Reports/Recom m enda tions: (Favora b le vote of m ajority of Com m ission ers p resent to approve excep t where n oted) A.Resolution No. 2024-03: Su p p ort th e Preserva tion of A.ord able Housing at 3400 Pa rkla wn Aven u e South a n d 5010 Su m m it Avenue B.Resolution 2024-05: Modify ing the E d en W illson Tax Increm en t Fina n cin g District and Associa ted Pla n C.Resolution 2024-04: Auth orizin g Ta x In crem ent Pled ge Agreem ent VIII.HRA Com m issioners' Com m en ts IX.Ad jou rn m ent Th e E d ina Housing a n d Redevelop m ent Au thority wa n ts all pa rticip ants to be com fortable b ein g pa rt of th e p u b lic p rocess. If y ou n ee d a ssista n ce in the w a y of h ea ring am pli@ca tion, a n in terp reter, large-p rint docum en ts or som ethin g else, p lease ca ll 952-927-8861 72 hou rs in advance of the m eeting. Date: June 13, 2024 Agenda Item #: V.A. To:C hair & C ommis s ioners of the Edina HR A Item Type: F rom: Item Activity: Subject:Exec utive Director's R espons e to C ommunity C omments Edina Housing and Redevelopment Authority Established 1974 C ITY O F E D IN A HO US I NG & R EDEVELO P MENT AUT HO R I T Y 4801 West 50th Street Edina, MN 55424 www.edinamn.gov A C TI O N R EQ U ES TED: None. I N TR O D U C TI O N: No C ommunity Comments made at May 16, 2024 meeting. Date: June 13, 2024 Agenda Item #: VI.A. To:C hair & C ommis s ioners of the Edina HR A Item Type: Minutes F rom:Liz O ls on, P lanning Adminis trative S upport S pec ialis t Item Activity: Subject:Draft Minutes of R egular Meeting on May 16, 2024 Action Edina Housing and Redevelopment Authority Established 1974 C ITY O F E D IN A HO US I NG & R EDEVELO P MENT AUT HO R I T Y 4801 West 50th Street Edina, MN 55424 www.edinamn.gov A C TI O N R EQ U ES TED: Approve minutes. I N TR O D U C TI O N: AT TAC HME N T S: Description Minutes from May 16, 2024 Page 1 MINUTES OF THE REGULAR MEETING OF THE EDINA HOUSING AND REDEVELOPMENT AUTHORITY MAY 16, 2024 7:30 A.M. I. CALL TO ORDER Chair Hovland called the meeting to order at 7:31 a.m. then explained the processes created for public comment. II. ROLLCALL Answering rollcall were Chair Hovland, Commissioners Agnew, Jackson, Pierce, and Risser. Absent: None. III. PLEDGE OF ALLEGIANCE IV. MEETING AGENDA APPROVED – AS PRESENTED Motion by Commissioner Jackson, seconded by Commissioner Pierce, approving the meeting agenda as presented. Ayes: Agnew, Jackson, Pierce, Risser, and Hovland Motion carried. V. COMMUNITY COMMENT No one appeared. V.A. EXECUTIVE DIRECTOR’S RESPONSE TO COMMUNITY COMMENTS Executive Director Neal responded there were no past Community Comments. VI. ADOPTION OF CONSENT AGENDA AS PRESENTED Motion by Commissioner Jackson, seconded by Commissioner Pierce, approving the consent agenda as presented: VI.A. DRAFT MINUTES OF REGULAR MEETING OF MARCH 14, 2024 VI.B. REQUEST FOR PURCHASE; WEST 50TH AND GRANGE ROAD CONSTRUCTION ADMINISTRATIVE SERVICES Ayes: Agnew, Jackson, Pierce, Risser, and Hovland Motion carried. VII. REPORTS AND RECOMMENDATIONS VII.A. GRANT AGREEMENT WITH OH CREPE LLC – APPROVED Economic Development Manager Neuendorf said in 2021, the HRA established the SPARC Fund to support job creation and investment in Edina. The SPARC Streamlined Grant Program was intended to provide grants up to $24,000 for the re-occupancy of vacant commercial spaces or expansion of commercial businesses. He outlined the SPARC program in further detail then said the first business to use this program was Oh Crepe, LLC. This new coffee shop and crepe bakery located at 4408 France Avenue and would re-occupy the commercial storefront formerly occupied by Caribou Coffee. The space was last remodeled prior to the adoption of the Americans with Disabilities Act (ADA) and the front entrance needs to be remodeled in order to create an accessible entrance to the space. He noted the building was built in the 1920s and remodeling triggered WAC/SAC fees as well as the rear parking lot needed adjustments. He said staff recommended approval of this grant agreement then outlined the project amount in detail that totaled $140,000 and the reimbursable grant amount of $18,000 for opening yet this summer. Minutes/HRA/May 16, 2024 Page 2 Claire Corvaiser, Oh Crepe, shared her background and further information about her proposed business. She said she loved the look of the building and how it would fit well with her business and shared her excitement with being in the community. She shared about the increased costs to renovate the space due to current requirements which resulted in the request for the grant and said she was excited to serve the community. She also shared about her current partnership with a cider company for her product and her excitement to continue that service here. Steve Young, Arbor Sunnyside Properties Commercial Group, shared their excitement to partner with Ms. Corvaiser and her crepe offerings then commented about the intended work on the parking lot to meet the current ADA requirements. The Board asked questions and provided feedback. Motion by Commissioner Jackson, seconded by Commissioner Agnew, to approve the grant agreement with Oh Crepe LLC as presented. Ayes: Agnew, Jackson, Pierce, and Hovland Nay: Risser Motion carried. VII.B. GRANT AGREEMENT WITH ARBOR SUNNYSIDE PROPERTIES, LLC – APPROVED Mr. Neuendorf said this grant agreement was also related to the new coffee shop and crepe bakery located at 4408 France Avenue. He said while the tenant was responsible for the interior construction and main entrance, the property owner was responsible for other construction on the site. The small parking lot in the rear of the building had not been improved in many years. The current design created a single step into the rear of each tenant space. This step limited access into the rear entrance of the new Oh Crepe business. With this grant funding, the property owner would reconstruct the parking lot to eliminate the single step that was a barrier for all tenant spaces and create an accessible parking space compliant with modern codes. Without the grant, the property owner indicated this reconstruction would be cost prohibitive. He outlined the total investment of $40,000 with a reimbursable grant amount of $20,000 to open summer of 2024. Staff recommends approval of the Grant Agreement. Motion by Commissioner Agnew, seconded by Commissioner Pierce, to approve the grant agreement with Arbor Sunnyside Properties, LLC as presented. Ayes: Agnew, Jackson, Pierce, and Hovland Nay: Risser Motion carried. VII.C. 5146 EDEN AVENUE – HOUSING REQUEST FOR PROPOSALS – REPORT RECEIVED Mr. Neuendorf said staff had received many inquiries from developers since the previous housing developer terminated the purchase contract for a portion of the property at 5146 Eden Avenue. The restaurant partner remained strongly interested in constructing a new restaurant on an adjacent portion of the site. Based on suggestions and preferences expressed from the HRA Board members, staff was preparing a Request for Proposal to be released to the real estate development community. Staff presented key elements of the RFP for discussion and said final input was requested from the HRA Board before the RFP document was formally released. He outlined the purpose of being open and transparent, maximized outcomes for the HRA, intention to select the most qualified developer, site plan details, and purchase price and transaction details to be negotiated as the site plan evolved. He spoke about the distinct elements for a new place in Edina that included public green space, restaurant, parking, housing, and walkability. He shared further about the preferred development program of for-sale townhomes that included the number of units and price point to meet a variety of income groups then reviewed the amenities balanced against the affordability, materials, and other Minutes/HRA/May 16, 2024 Page 3 finishes and encouraged the HRA to consider rental for the time being. He reviewed anticipated submission requirements for both a public and non-public phase process then reviewed the proposed schedule. The Board asked questions and provided feedback. VIII. EXECUTIVE DIRECTOR’S COMMENTS – Received VIII.A. BUSINESS SUBSIDY POLICY VIII.B. TIF SPECIAL LEGISLATION VIII.C. EDINA INNOVATION LAB STATUS UPDATE The Board asked questions and provided feedback. IX. HRA COMMISSIONER COMMENTS – Received X. ADJOURNMENT Motion made by Commissioner Jackson, seconded by Commissioner Agnew, to adjourn the meeting at 8:51 a.m. Ayes: Agnew, Jackson, Pierce, Risser, and Hovland Motion carried. Respectfully submitted, Scott Neal, Executive Director Date: June 13, 2024 Agenda Item #: VI I.A. To:C hair & C ommis s ioners of the Edina HR A Item Type: R eport / R ecommendation F rom:S tephanie Hawkinson, Affordable Housing Development Manager Item Activity: Subject:R es olution No. 2024-03: S upport the P reservation of Affordable Hous ing at 3400 P arklawn Avenue S outh and 5010 S ummit Avenue Ac tion Edina Housing and Redevelopment Authority Established 1974 C ITY O F E D IN A HO US I NG & R EDEVELO P MENT AUT HO R I T Y 4801 West 50th Street Edina, MN 55424 www.edinamn.gov A C TI O N R EQ U ES TED: Adopt R esolution No. 2024-03. I N TR O D U C TI O N: C ommonB ond Communities is seeking a $850,000 deferred loan for the refinancing and renovation of South Haven and S ummit P oint. T hese two properties provide affordable housing to 129 extremely low-income seniors and individuals with disabilities. CommonBond acquired the properties in 2005, and completed a moderate renovation at that time. C ommonB ond needs to refinance their first mortgage on both properties. T hey also need financing to address physical and operational needs. As both properties have been serving very low-income households, there is insufficient cash flow to address major mechanical upgrades or aesthetic improvements. C ommonB ond is also pursuing bond financing together with 4% tax credits from Minnesota Housing and financial assistance from Hennepin County. AT TAC HME N T S: Description Staff Report Resolution No. 2024-03 Sustainability Manager Report LHB Waiver Request Memo June 13, 2024 Chair and HRA Commissioners Stephanie Hawkinson, Affordable Housing Development Manager Adopt Resolution No. 2024-03 Supporting the Preservation of Affordable Housing at 3400 Parklawn Avenue South and 5010 Summit Avenue Information / Background: CommonBond Communities is seeking an $850,000, 0% interest, deferred loan for the refinancing of South Haven (3400 Parklawn Avenue South) and Summit Point (5010 Summit Avenue). Together these two buildings provide affordable housing to 129 extremely low-income seniors and individuals with disabilities. CommonBond acquired the buildings in 2005 and completed moderate renovations in 2006. No significant improvements have happened since that time. CommonBond needs to refinance their first mortgage on both properties. Their loan term is 20-years with 30-year amortization that is due this summer. CommonBond also needs financing to address physical and operational needs. As both properties have been serving very low-income households since 2006, there is insufficient cash flow to address major mechanical upgrades or aesthetic improvements. This summer CommonBond is pursuing bond financing together with 4% tax credits from Minnesota Housing and financial assistance from Hennepin County. The $850,000 deferred loan from the Edina HRA would be is co-terminus with a deferred loan from Minnesota Housing. The total cost to refinance and complete necessary improvements on both buildings is estimated at $39,298,388. Property Information and Resident Population: Both Summit Point and South Haven were developed in the 1980’s and serve seniors and people with disabilities with very low incomes. Although older, both properties are well maintained.  South Haven is a 100-unit, 7-story property located at 3400 Parklawn Avenue  Summit Point is a 29-unit, 3-story property located at 5010 Summit Avenue  All 129 units have rental assistance via project-based Housing Assistance Payment (HAP) contracts with the Department of Housing & Urban Development (HUD) (i.e. project-based Section 8). The HAP contracts are administered by Minnesota Housing. Based on the HAP contracts, residents pay 30% of their income towards rent.  No units are currently reserved for homeless households. STAFF REPORT Page 2  New restrictions due to refinancing: o 102 units restricted at 30% AMI or below. o 13 units designated for homeless households and restricted at 30% AMI or below as required by Minnesota Housing. o 14 units restricted at 50% AMI or below:  These 50% AMI units are being added to prevent displacement. Some resident incomes have grown and if all units remained restricted at 30% AMI, these households would not income qualify to remain at the properties. Renovation Scope of Work: The renovation work CommonBond completed in 2006 was moderate (approximately $35,000/unit worth of work) and both properties continue to have some of the original components from the 1982 construction. Those original components and other items requiring replacement or repair to extend the useful life of the properties physical components and/or enhance resident quality are the focus of the scope of work. CommonBond is working with LHB Architects and Frerichs Construction to finalize the scope of work for each building. Initial anticipated scope items include:  Replace and repair sidewalks and parking lot;  Replace windows and first floor sliding glass doors and exterior doors;  Upgrade common areas (flooring, doors, painting, including possible reconfiguration of space);  Upgrade residential units (kitchens, bathrooms, flooring, painting, etc.);  Upgrade accessibility features in common areas where applicable;  Replace mechanical systems (boilers, hot water heaters, water softeners);  Replace waste and vent pipes (South Haven only);  Replace and upgrade site lighting, including common area lighting, with energy efficient LED fixtures;  Upgrade resident access system, and security camera systems. Since the 2006 renovation, regular maintenance and preventative maintenance have been implemented to respond to regular physical needs at the property. In addition, property reserves have been utilized for some more substantial improvements including:  South Haven: parking lot and garage repairs, community renovations, elevator upgrades, security cameras and CCTV, and LED upgrades.  Summit Point: parking lot, retaining wall and sidewalk repairs, elevator upgrades, and sprinkler system repairs/upgrades. Owner Information: Formed in 1971, CommonBond Communities is a 501(c)3 nonprofit corporation with a vision that “…every person has a dignified, affordable home that supports independence and advancement within a flourishing community.” CommonBond developed, owns and manages over 7,000 affordable rental apartments across Minnesota, Wisconsin, Iowa, and South Dakota, including three in Edina. They offer supportive services to residents to help them be successful renters and to thrive in community. STAFF REPORT Page 3 Financial Information: The source for CommonBond’s $850,000 request is the Southdale II TIF Pooled Funds. If awarded, the balance in this pool will be $1,907,294. The HRA request is 2.2% of the total development cost, or $6,589 per unit. CommonBond is contributing a $5,630,000 Sellers Note and $676,664 Deferred Developer’s Fee. Sources Uses Minnesota Housing 1st Mortgage $ 8,538,000 Refinance $ 9,998,829 LIHTC Equity ("tax credits") $ 14,917,069 Rehabilitation $ 18,045,000 Minnesota Housing Deferred Loan $ 4,635,768 Contingency $ 1,804,500 Sales Tax Rebate $ 315,788 Environmental Abatement $ 451,500 Energy Rebate $ 35,000 Professional Fees $ 1,540,145 CommonBond Seller Note $ 5,630,000 Developer Fee $ 3,800,000 Hennepin County $ 2,650,000 Financing Costs $ 2,591,912 City of Edina $ 850,000 Required Reserves $ 1,066,503 NOI during Construction $ 180,000 Existing Reserves $ 870,000 Deferred Developer Fee $ 676,664 $ 39,298,388 $ 39,298,388 Alignment With City Values: Community Engagement South Haven and Summit Point have been serving some of the most vulnerable and disenfranchised Edina residents since 2006: very low-income seniors and people with disabilities. This is not the population that traditionally participates in the public process. Therefore, the Affordable Housing Development Manager and the Community Engagement Police Officer went to them to share information about the City and to open lines of communication. Public financial support to help with safety and aesthetic improvements of these two buildings symbolizes to these Edina residents that they are an important part of our community. Health in all Policies The financial request is to support affordable housing where the tenant’s portion of the rent is capped at 30% of their income, thus no resident is housing cost burdened which is a source of stress for 49% of Edina renters*. The funding will also address the physical health by addressing accessibility, safety and security needs. In addition, as the buildings have not been renovated in 18-years they appear tired and in need up upgrades. Investment in the physical environment could be beneficial to the tenants’ lived experiences. Race and Equity The refinancing and rehabilitation of both South Haven and Summit Point are necessary for the on-going operation of these two affordable apartments that serve 129 seniors and people with disabilities who have very low-incomes. They are two of very few apartments that are 100% covered by HAP contracts. Although the total project cost, including refinancing the first mortgage, for this work is significant at $304,639 per unit, it is less than what it would cost to newly construct these two buildings. Their STAFF REPORT Page 4 preservation maintains the ability for the tenants to stay in Edina, with no alternatives if the buildings were to increase the rents to market rate, get sold or demolished. Sustainability Generally renovating buildings is more environmentally sustainable than demolishing with debris going to landfills and building new using natural resources. More specifically, the renovation of South Haven and Summit Point will adhere to the Sustainable Buildings Policy by achieving the required points from Enterprise Green Communities. For example, CommonBond will be installing more energy efficient mechanical systems and windows, LED lighting, and energy efficient appliances. *American Community Survey EDINA HOUSING AND REDEVELOPMENT AUTHORITY CITY OF EDINA COUNTY OF HENNEPIN STATE OF MINNESOTA HRA RESOLUTION NO. 2024-03 SUPPORTING THE PRESERVATION OF AFFORDABLE HOUSING AT 3400 PARKLAWN AVENUE SOUTH AND 5010 SUMMIT AVENUE BE IT RESOLVED by the Housing and Redevelopment Authority of the City of Edina, Minnesota as follows: WHEREAS; the City of Edina recognizes the need to create and preserve affordable housing units to supplement the supply of market rate units available in our community; and WHEREAS, CommonBond Communities, a 501 (c)3 nonprofit corporation, has owned and operated 3400 Parklawn Avenue South (South Haven) and 5010 Summit Avenue (Summit Point) since 2005 (combined referred to as “the Properties”); and WHEREAS, the Properties contain 129 affordable apartment units for seniors and people with disabilities who have incomes at or below 30% of the Area Median Income; and WHEREAS, the rental income revenue is insufficient to allow for major renovation or upgrades to the Properties, which have not occurred since 2006; and WHEREAS, the Properties will be owned by a newly formed Limited Partnership of which CommonBond Communities will be the Managing Member; and WHEREAS, a variety of grants or other public financial assistance will be required to refinance and rehabilitate the properties, including a deferred loan and low-income housing tax credits ("LIHTC") from the Minnesota Housing Finance Agency ("MHFA"), and financing from Hennepin County; and WHEREAS, the Edina Housing and Redevelopment Authority has access to funds that have been collected and could be used to support the preservation and development of affordable housing; and WHEREAS, refinancing and rehabilitating the Properties is estimated to cost approximately $39,298,388 and CommonBond Communities is requesting $850,000 in financing from the City through the Housing and Redevelopment Authority; and WHEREAS, this financing is a local contribution and will assist the Developer in securing the approvals from the MHFA and Hennepin County for a financing and LIHTCs, NOW THEREFORE, BE IT RESOLVED, the Housing and Redevelopment Authority of the City of Edina endorses the CommonBond’s application to MHFA and Hennepin County for financing and LIHTCs; and BE IT FURTHER RESOLVED, the Housing and Redevelopment Authority shall provide, in accordance with the requirements of this Resolution, a total of an amount not to exceed $850,000 in order to facilitate the refinancing and rehabilitation of the Properties. BE IT FURTHER RESOLVED, the Housing and Redevelopment Authority has the ability to rescind the financing commitment if the Project has not secured full financing by December 31, 2026. Passed and adopted on this 13th day of June, 2024 Attest: _______________________________ ________________________________ James Pierce, Secretary James B. Hovland, Chair Attest: _________________________ City Clerk June 13, 2024 Housing & Redevelopment Authority Marisa Bayer, Sustainability Manager Sustainable Building Policy Waiver Request for South Haven and Summit Point Information / Background: Edina’s Sustainable Building Policy was adopted in 2021 requiring developments that seek financial assistance from the City of Edina or land use incentives to be certified under an eligible Sustainable Building Rating System at the listed rating level, and meet the standards set forth in the Edina Overlay. The Sustainable Building Policy supports Edina’s Climate Action Plan goals to reduce greenhouse gas emissions 45% by 2030 by focusing on new developments and major renovations to minimize emissions and reduce its environmental impact. The policy applies to: 1. Major renovations, defined as renovation work performed on an existing building or portion thereof consisting of at least 10,000 gross square feet (2,500 for municipal buildings) that requires installation or replacement of mechanical, ventilation or cooling systems. 2. New construction, defined as the planning, design, construction, and commission of a new building. 3. Additions of at least 10,000 square feet to existing buildings if such addition requires installation of new mechanical, ventilation, or cooling systems. Applicability to South Haven and Summit Point The development team for South Haven, 3400 Parklawn Ave and Summit Point, 5010 Summit Ave are requesting funding from the Housing & Redevelopment Authority, which qualifies as “financial assistance” per the Sustainability Building Policy. Both projects are major renovations consisting of more than 10,000 square feet and will result in the installation or replacement of mechanical, ventilation or cooling systems. As such, the requirements of the Sustainable Building Policy will apply if financial assistance is granted. STAFF REPORT Page 2 Waiver Request The Sustainable Building Policy allows a waiver, whole or in part, for projects after consideration of the advantages and disadvantages of a waiver. The development team has requested a partial waiver of certain conditions of the Sustainable Building Policy for both projects: • Sustainable Building Rating System o Requirement: Enterprise Green Communities, Certified. o Waiver request: Enterprise Green Communities, Not Certified. • Edina Overlay for Building Greenhouse Gas Emission Predictions o Requirement: Calculate and report predicted greenhouse gas emissions. o Waiver request: None. • Edina Overlay for Electric Vehicle Charging Capability o Requirement: 5% of parking stalls must install Level 2 or higher charging stations at time of construction, and install conduit that allows at least 10% of spaces to install Level 2 or higher charging stations in the future. o Waiver request: Install conduit for future charger installation for 15% of parking stalls. • Edina Overlay for Energy Efficiency Standard o Requirement: For projects with at least one affordable unit serving residents at or below 60% AMI in rental buildings, achieve 15 points Enterprise Green Communities 5.2b or a combination of 5.2a and 5.3b. All other commercial projects must follow B3 Sustainable Building 2030 Energy Standard. o Waiver request: Comply with Enterprise Green Communities criteria 5.1b, install new Energy Star windows, and make each site solar-ready for future solar PV installation. Projects will achieve a minimum of 70 optional points in Enterprise Green Communities with the Minnesota Overlay. • Edina Overlay for Bird Safe Glazing o Requirement: Use B3 Bird Safe Calculator worksheet, submit a memo cataloging threats and quantifying the cost of mitigation, follow MN B3 Part S.5.E Lights Out Management, register your building with MN Audubon’s Lights Out Program, and report bird strikes 12 months after occupancy using B3 Bird Monitoring Worksheet. o Waiver request: None. The project development team provided a letter with additional detail on each waiver request and justification which is included as an attachment to this report. Waiver Recommendation If the Housing & Redevelopment Authority grants South Haven or Summit Point’s funding request, triggering the Sustainable Building Policy, the Sustainability Division recommends granting a partial waiver for both projects with the following conditions. STAFF REPORT Page 3 • Sustainable Building Rating System o Waiver requirement: Waive certification requirement if development team submits a letter of assurance from Minnesota Housing to confirm project meets their requirements of 2020 Enterprise Green Communities with the 2023-2024 Minnesota Overlay. The development team must also provide the list of achieved Enterprise Green Communities criteria to the Sustainability Division to explain how projects achieve a minimum of 70 optional points in Enterprise Green Communities with the Minnesota Overlay, as well as Intended Methods Worksheets to confirm compliance with Minnesota Housing’s and Enterprise Green Communities’ requirements. • Edina Overlay for Building Greenhouse Gas Emission Predictions o No waiver. • Edina Overlay for Electric Vehicle Charging Capability o Waiver requirement: Waive 5% charging infrastructure installation requirement if project installs conduit that allows at least 15% of spaces to install Level 2 or higher charging stations in the future. The development team must complete the Sustainable Building Policy Electric Vehicle Parking Worksheet during design and submit it to the Sustainability Division. • Edina Overlay for Energy Efficiency Standard o Waiver requirement: Waive energy efficiency standard for 15 points in Enterprise Green Communities 5.2a, 5.2b and 5.3b if project achieves minimum criteria in 5.1b, installs new Energy Star windows, installs conduit to make buildings “solar-ready.” The development team must complete the Sustainable Building Policy Energy Efficiency Worksheet to demonstrate efficiency improvements made and solar-ready installations during design and submit it to the Sustainability Division. • Edina Overlay for Bird Safe Glazing o No waiver. PERFORMANCE DRIVEN DESIGN / / / / / / / / / / / / / / / / / / / / / / / LHBCORP.COM June 6, 2024 Marisa Bayer, Sustainability Manager City of Edina 7450 Metro Blvd. Edina, MN 55439 SUSTAINABLE BUILDING POLICY WAIVER REQUEST SOUTH HAVEN: 3400 Parklawn Ave., Edina, MN SUMMIT POINT: 5010 Summit Ave., Edina MN The development team for South Haven and Summit Point requests a partial Waiver to Edina’s Sustainable Building Policy. These two affordable properties provide housing to seniors who are at or below 30% AMI. Both buildings are over 40 years old, with the last moderate renovation occurring 18 years ago. They are in need of roofing, windows, siding, masonry restoration, plumbing, mechanical, electrical, and low voltage work, along with dwelling unit improvements to kitchens, bathrooms, finishes and fixtures. This scope of work is carefully balanced to stabilize the buildings for the next 20 years and incorporate efficiency updates to improve overall building performance and minimize operational costs. The justification for partial waivers is noted below, as applicable to the individual Sustainable Building Policy criteria. In general, this request is being made due to financial burden on the project and infeasibility to implement with the anticipated scope of work. The following summary outlines compliance with and waiver requests for each Sustainable Building Policy Criteria Sustainable Building Rating System Requirement We are requesting a waiver from the certification requirement due to financial burden to certify the project. Based on recent Green Communities certification of another project, this effort adds over $40,000 to the design team fee without substantially increasing sustainability of the building. In lieu of certification, the project proposes the following: Design and renovate both properties to meet 2020 Enterprise Green Communities with the 2023-2024 Minnesota Overlay, as required by Minnesota Housing. Full certification is not required by Minnesota Housing, as they recognize the cost burden to do so. The design team will submit Green Communities documentation at various stages of the project to confirm compliance with program requirements to Minnesota Housing. These documents include the Intended Methods Worksheets (IMW), along with other worksheets as required based on project type and criteria selected. Minnesota Housing will observe implementation of sustainable design strategies during construction. MARISA BAYER PAGE 2 CITY OF EDINA The project team will request a letter of assurance from Minnesota Housing to confirm points and details of criteria met. We have reviewed this request the Erika Arms, Minnesota Housing Architect, and she agrees to provide a letter at project closeout as needed. Edina Overlay Requirement for Building Greenhouse Gas Emission Predictions Project team will follow this overlay requirement. Edina Overlay Requirement for Electric Vehicle Charging Capability We are requesting a partial waiver of this overlay requirement due to population demographics and financial burden. In lieu of full compliance, the project proposes the following: The project will include electric vehicle charger rough-in for 15% of the surface parking stalls. This deviates from the requirement of 5% installed and 10% roughed in, but provides the required quantity. This requirement was reviewed with property management and residents, who reported that there are no residents, nor staff, on site with electric vehicles currently and none are expected in the foreseeable future. Including EV rough-in will allow the properties to add chargers at a future date if and when the need arises. Edina Overlay Requirement for Energy Efficiency Standard We are requesting a waiver of this overlay requirement due to infeasibility of the strategy. This criteria was reviewed with Scott Thomas of Cain Thomas Associates, who advised that achieving the 15 optional points required from either Green Communities 5.2b or 5.2a and 5.3b combined is not achievable with the given scope of work. In lieu of full compliance, the project proposes the following: The project will be designed to comply with criteria 5.1b, prescriptive path, which includes minimum efficiency requirements for mechanical equipment being replaced, outdoor air rest controls, boiler pipe insulation, ECMs for new air handling units and air conditioner unit insulated covers. Windows will be replaced with new units that meet Energy Star prescriptive requirements for Climate Zone 6. In addition, both sites will include a minimum of 70 optional points in the 2020 Enterprise Green Communities with the 2023-2024 Minnesota Overlay, which is twice the optional points required for a rehabilitation project. Examples of optional criteria to be included at each site: Rough-in for future roof-mounted Solar/PV, WaterSense labeled irrigation controller, water conserving fixtures that exceed Green Communities minimum efficiencies, and strategies to encourage resident recycling and a smoke-free building policy. Edina Overlay Requirement for Bird Safe Glazing Project team will follow this overlay requirement. MARISA BAYER PAGE 3 CITY OF EDINA LHB, INC. MIKE MADDEN, HOUSING STUDIO LEAD c: Katie Anthony, CommonBond Communities Stephanie Hawkinson, City of Edina LHB Project No. 240416 m:\24proj\240416\200 communication\letters\240416 20240606 l sustainability request_edina.docx Date: June 13, 2024 Agenda Item #: VI I.B. To:C hair & C ommis s ioners of the Edina HR A Item Type: R eport / R ecommendation F rom:Bill Neuendorf, Economic Development Manager Item Activity: Subject:R es olution 2024-05: Modifying the Eden Willson Tax Increment F inancing Dis tric t and Assoc iated P lan Ac tion Edina Housing and Redevelopment Authority Established 1974 C ITY O F E D IN A HO US I NG & R EDEVELO P MENT AUT HO R I T Y 4801 West 50th Street Edina, MN 55424 www.edinamn.gov A C TI O N R EQ U ES TED: Approve R esolution 2024-05 modifying the Tax Increment F inancing P lan for the Eden Willson R edevelopment Tax I ncrement Financing District located within the S outheast Edina Redevelopment P roject Area. I N TR O D U C TI O N: T his item pertains to the boundaries of the E den Willson T I F D istrict. T his District was established in 2021. During the certification process, the C ounty raised concerns with the original Registered Land Survey of C ity Hall and Tupa P ark. T he concerns have been addressed. I n order to expedite the certification of this T I F D istrict, staff and the H R A's financial and legal advisors recommend that the boundaries be adjusted to remove T upa P ark from the T I F D istrict. T his boundary change has no impact to the current or anticipated obligations of this T I F District. S taff recommends that R esolution 2024-05 be approved. AT TAC HME N T S: Description HRA Resolution 2024-05 Staff Pres entation EDINA HOUSING AND REDEVELOPMENT AUTHORITY CITY OF EDINA HENNEPIN COUNTY STATE OF MINNESOTA RESOLUTION NO. 2024-05 MODIFYING THE TAX INCREMENT FINANCING PLAN FOR THE EDEN WILLSON REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT LOCATED WITHIN THE SOUTHEAST EDINA REDEVELOPMENT PROJECT AREA. It is hereby resolved by the Board of Commissioners (the "Board") of the Edina Housing and Redevelopment Authority (the "HRA") as follows: 1. Recitals. a. The HRA has heretofore established the Southeast Edina Redevelopment Project Area and adopted the Redevelopment Plan therefor and, through passage of Resolution #2021-12 (the “HRA Establishing Resolution”) and the City Council’s approval under its Resolution #2021-99 (the “City Resolution”), established therein the Eden Willson Redevelopment Tax Increment Financing District (the “TIF District”) and adopted a Tax Increment Financing Plan (the “Plan”) therefor. b. The HRA is the administrative authority for the TIF District and submitted the Plan to the Minnesota Department of Revenue and Office of the State Auditor pursuant to Minnesota Statutes 469.175, Subd. 4a and to the Hennepin County Auditor (the “Auditor”) for certification of the TIF District on June 20, 2022. c. As a portion of Parcel #18-028-24-32-0029 (the “Parcel”) lies outside the intended TIF District, the Auditor confirmed it would not be able to certify the TIF District until a division occurs or the Parcel is removed from the TIF District. d. The HRA desires to proceed to certify the TIF District and it has been proposed that the HRA modify the Plan (the “Plan Modification”) for the TIF District all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.174 through 469.179 (the “Act”), all inclusive, as amended, all as reflected herein, and presented for the Board’s consideration. Generally, the substantive changes to the Plan include an administrative modification to clarify the removal of the Parcel from the listed property to be included in the TIF District. e. The HRA has determined that the removal of the Parcel meets the requirements of Minnesota Statutes 469.175, Subdivision 4(e) as the net tax capacity of the Parcel proposed to be eliminated from the TIF District equals or exceeds the net tax capacity of the Parcel as originally adopted. HRA Resolution 2024-05 Page 2 f. The HRA has performed all actions required by law to be performed prior to the adoption and approval of the proposed Plan Modification. Because of the nature of this Plan Modification, and because this Plan Modification does not entail an enlargement of geographic area, an increase in the amount of bonded indebtedness, an increase to the amount of interest on debt, an increase in the portion of the captured net tax capacity, or an increase in the total estimated tax increment expenditures, this Plan Modification is not subject to a public hearing requirement. 2. The HRA hereby modifies the description of the property to be included in the TIF District to reflect the removal of the Parcel as described and illustrated in Exhibit A attached hereto. 3. The HRA hereby reaffirms the original findings for the TIF District, namely: that the TIF District is in the public interest and is a “redevelopment district” under Minnesota Statutes, Section 469.174, Subd. 10. 4. The HRA hereby approves the Plan Modification and directs the HRA Executive Director to file the Plan Modification with the State Department of Revenue, the Office of the State Auditor and the County Auditor in order to the clarify the original certification request. Approved by the Board on June 13, 2024. _______________________________ James Hovland, Chair ATTEST: __________________________ James Pierce, Secretary HRA Resolution 2024-05 Page 3 EXHIBIT A DESCRIPTION OF PROPERTY IN THE DISTRICT AND PROPERTY TO BE ACQUIRED Language As Adopted in the original Tax Increment Financing Plan (page 5-6): The TIF District encompasses property identified by the parcels listed below, inclusive of adjacent rights-of-way, pedestrian pathways and crossing, and abutting roadways and intersections. Parcel Number Address Owner 1802824320023 4917 Eden Avenue Eden Ventures 1802824320029* 4918 and 4920 Eden Avenue* City of Edina * As depicted in Appendix A of the Tax Increment Financing Plan, the TIF District will include only the portion of parcel #18-028-24-32-0029 west of Grange Road. Please also see the map in Appendix A for further information on the location of the District. The HRA or City may acquire any parcel within the District including interior and adjacent street rights-of-way. Any properties identified for acquisition will be acquired by the HRA or City only in order to accomplish one or more of the following: storm sewer improvements; provide land for needed public streets and sidewalks, utilities and facilities; carry out land acquisition, site improvements, clearance and/or development to accomplish the uses and objectives set forth in this plan. The HRA or City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of this TIF Plan. Such acquisitions will be undertaken only when there is assurance of funding to finance the acquisition and related costs. The HRA or City currently owns one parcel of the property to be included in the District. Language as Modified June 13, 2024: The TIF District encompasses property identified by the parcel listed below, inclusive of adjacent rights-of-way, pedestrian pathways and crossing, and abutting roadways and intersections. Parcel Number Address Owner 1802824320023 4917 Eden Avenue Eden Ventures Please also see the map in Appendix A for further information on the location of the District. HRA Resolution 2024-05 Page 4 The HRA or City may acquire any parcel within the District including interior and adjacent street rights-of-way. Any properties identified for acquisition will be acquired by the HRA or City only in order to accomplish one or more of the following: storm sewer improvements; provide land for needed public streets and sidewalks, utilities and facilities; carry out land acquisition, site improvements, clearance and/or development to accomplish the uses and objectives set forth in this plan. The HRA or City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of this TIF Plan. Such acquisitions will be undertaken only when there is assurance of funding to finance the acquisition and related costs. Appendix A: Map of Southeast Edina Redevelopment Project Area and the TIF District Delete and replace the two maps in Appendix A (pages 16 -17) with the maps on the following pages. HRA Resolution 2024-05 Page 5 HRA Resolution 2024-05 Page 6 The CITYofEDINAResolution 2024-05Modifying Eden Willson TIF District and associated PlanPresentation to:Edina HRA BoardJune 13, 2024www.EdinaMN.gov The CITYofEDINA2BackgroundEdina City Hall, Tupa Park and some adjacent roadways are defined by a Registered Land Survey (RLS) that was prepared nearly 50 years ago. The current preferred practice is to provide a plat of individual parcels instead of RLS.In order to certify the TIF District with Hennepin County and avoid a problem with the RLS, it is recommended that the Tupa Park property be excluded from the TIF District.City Hall / Tupa ParkProperty ID No.18-028-24-32-0029 The CITYofEDINA3Original TIF BoundariesModified TIF Boundaries The CITYofEDINA4Recommended Action:Staff recommends that Resolution 2024-05 be approved to modify the Eden Willson TIF District and associated Plan to reflect updated boundaries. Date: June 13, 2024 Agenda Item #: VI I.C . To:C hair & C ommis s ioners of the Edina HR A Item Type: R eport / R ecommendation F rom:Bill Neuendorf, Economic Development Manager Item Activity: Subject:R es olution 2024-04: Authorizing Tax Inc rement P ledge Agreement Ac tion Edina Housing and Redevelopment Authority Established 1974 C ITY O F E D IN A HO US I NG & R EDEVELO P MENT AUT HO R I T Y 4801 West 50th Street Edina, MN 55424 www.edinamn.gov A C TI O N R EQ U ES TED: Approve R esolution 2024-04 authorizing execution of tax increment pledge agreement for the E den Willson Tax I ncrement Financing District. I N TR O D U C TI O N: On June 4, 2024, the City Council approved R esolution 2024-37 which provides for the issuance of up to $32,730,000 General Obligation Bonds. T he bonds are anticipated to be issued and sold in J uly 2024. Approximately $5.4 million of the bond proceeds are anticipated to provide long term financing for two transportation improvement projects that were identified and recommended in the East G randview Transportation S tudy. T he E den Grange roundabout project was constructed in 2023 and completed in S pring 2024. T he cost of this project is approximately $2 million. T he 50th S treet (Grange to D ale) project is under construction in 2024 with a cost of approximate $3.2 million. B oth of these roadway improvement projects are part of the redevelopment strategy for the Eden Willson T I F District. Incremental property taxes are intended to be used to repay portions of the bond. A resolution has been prepared to authorize incremental taxes to be used to repay a portion of the General Obligation bonds. S taff recommends that R esolution 2024-04 be approved. AT TAC HME N T S: Description HRA Resolution 2024-04 Tax Increment Pledge Agreement EDINA HOUSING AND REDEVELOPMENT AUTHORITY RESOLUTION 2024-04 RESOLUTION AUTHORIZING EXECUTION OF TAX INCREMENT PLEDGE AGREEMENT WHEREAS, the City of Edina, Minnesota (the “City”), desires to issue its General Obligation Bonds, Series 2024A, in the approximate principal amount of $32,730,000, pursuant to Minnesota Statutes, Chapters 429 and 475 and Sections 444.075, 469.178, and 475.521 (the “Bonds”), for the purpose of financing various street improvement projects, sewer and storm sewer improvements, capital improvements, and public improvements (collectively, the “Projects”) supporting the Eden Willson Redevelopment Tax Increment Financing District (the “District”) and paying costs of issuance of the Bonds; and WHEREAS, a portion of Bonds shall be payable with tax increment (“TIF”) realized by the Edina Housing and Redevelopment Authority (the “Authority”) from the District; and WHEREAS, Minnesota Statutes, Section 469.178, Subdivision 2 requires that any pledge of TIF for the payment of the principal of and interest on general obligation bonds issued under the aforementioned subdivision be made by written agreement by and between the Authority and the City and filed with the county auditor; and WHEREAS, the Authority administers the District; and WHEREAS, it is necessary and expedient that the Authority and the City enter into a TIF pledge agreement securing the Bonds (the “Pledge Agreement”) with TIF from the District. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Authority, as follows: 1. Authorization to Execute. The Pledge Agreement, a form of which agreement is attached hereto as Exhibit A, is hereby approved in substantially the form in Exhibit A, and the Chair and Secretary are authorized and directed to execute the same on behalf of the Authority. 2. Filing. The Secretary is directed to file a fully executed copy of the Pledge Agreement with the Hennepin County Auditor pursuant to Minnesota Statutes, Section 469.178, Subdivision 2. Edina Housing & Redevelopment Authority Resolution 2024-04 Page 2 The motion for the adoption of the foregoing resolution was moved by member _______________________ and duly seconded by member _________________________ and, after full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: and the following voted against the same: Whereupon said resolution was declared duly passed and adopted. STATE OF MINNESOTA ) COUNTY OF HENNEPIN) SS CITY OF EDINA ) CERTIFICATE OF EXECUTIVE DIRECTOR I, the undersigned duly appointed and acting Executive Director for the Edina Housing and Redevelopment Authority do hereby certify that the attached and foregoing Resolution was duly adopted by the Edina Housing and Redevelopment Authority at its Regular Meeting of June 13, 2024, and as recorded in the Minutes of said Regular Meeting. WITNESS my hand and seal of said City this _______ day of ___________________, 2024. ___________________________________ Executive Director Edina Housing & Redevelopment Authority Resolution 2024-04 Page 3 Exhibit A FORM OF TAX INCREMENT PLEDGE AGREEMENT This Tax Increment Pledge Agreement (the “Agreement”) dated as of August 1, 2024, is by and between the City of Edina, Minnesota (the “City”), and the Edina Housing and Redevelopment Authority (the “Authority”), and provides as follows: WHEREAS, the City has determined to issue its General Obligation Bonds, Series 2024A, in the approximate principal amount of $32,730,000, pursuant to Minnesota Statutes, Chapters 429 and 475 and Sections 444.075, 469.178, and 475.521 (the “Bonds”), for the purpose of financing various street improvement projects, sewer and storm sewer improvements, capital improvements, and public improvements (collectively, the “Projects”) supporting the Eden Willson Redevelopment Tax Increment Financing District (the “District”) and paying costs of issuance of the Bonds; and WHEREAS, a portion of the Bonds is to be payable from tax increments realized by the Authority from the District (the “TIF Bonds”). NOW, THEREFORE, to provide funds sufficient for the timely payment of the principal and interest on the TIF Bonds, the City and the Authority hereby agree as follows: In order to pay the principal of and interest on the TIF Bonds when due, the Authority hereby pledges to the City, for deposit in the Bond Fund established by the resolution of the City dated July 16, 2024 (the “Bond Resolution”), for the payment of the TIF Bonds and any bonds used to refund the TIF Bonds, Available Tax Increments (hereinafter defined) in amounts sufficient, with other funds actually appropriated by the City to the Bond Fund, to pay the principal and interest that are due pursuant to the Bond Resolution on the dates determined by the City and, if and to the extent that the Available Tax Increments are ever insufficient for such purposes, and the City advances City funds to provide prompt and full payment of the TIF Bonds, the Authority agrees to reimburse the City for such advances from Available Tax Increments thereafter received by the Authority. As used in this Agreement, “Available Tax Increments” means tax increments derived by the Authority from the District, excluding such tax increments as have heretofore been pledged to the payment of other tax increment bonds or other eligible costs. In discharging its obligations under this Agreement, the Authority expressly reserves the right to select from year to year Available Tax Increments f rom the District and to pledge or otherwise dedicate tax increments from the District to purposes other than the payment of the TIF Bonds upon a finding by the Authority that the estimated Available Tax Increments then remaining will be sufficient from year to year to discharge the Authority’s payment obligations on the TIF Bonds pursuant to this Agreement. An executed copy of this Agreement shall be filed with the County Auditor of Hennepin County as required by Minnesota Statutes, Section 469.178, Subdivision 2. This Agreement shall become effective upon the actual issuance and delivery of the Bonds. IN WITNESS WHEREOF, the City and the Authority have caused this Agreement to be duly approved and executed as of the day and year first above written. Edina Housing & Redevelopment Authority Resolution 2024-04 Page 4 CITY OF EDINA, MINNESOTA By Mayor Attest: City Clerk City Signature Page Tax Increment Pledge Agreement General Obligation Bonds, Series 2024A Edina Housing & Redevelopment Authority Resolution 2024-04 Page 5 EDINA HOUSING AND REDEVELOPMENT AUTHORITY By Chair And Secretary Authority Signature Page Tax Increment Pledge Agreement General Obligation Bonds, Series 2024A TAX INCREMENT PLEDGE AGREEMENT This Tax Increment Pledge Agreement (the “Agreement”) dated as of August 1, 2024, is by and between the City of Edina, Minnesota (the “City”), and the Edina Housing and Redevelopment Authority (the “Authority”), and provides as follows: WHEREAS, the City has determined to issue its General Obligation Bonds, Series 2024A, in the approximate principal amount of $32,730,000, pursuant to Minnesota Statutes, Chapters 429 and 475 and Sections 444.075, 469.178, and 475.521 (the “Bonds”), for the purpose of financing various street improvement projects, sewer and storm sewer improvements, capital improvements, and public improvements (collectively, the “Projects”) supporting the Eden Willson Redevelopment Tax Increment Financing District (the “District”) and paying costs of issuance of the Bonds; and WHEREAS, a portion of the Bonds is to be payable from tax increments realized by the Authority from the District (the “TIF Bonds”). NOW, THEREFORE, to provide funds sufficient for the timely payment of the principal and interest on the TIF Bonds, the City and the Authority hereby agree as follows: In order to pay the principal of and interest on the TIF Bonds when due, the Authority hereby pledges to the City, for deposit in the Bond Fund established by the resolution of the City dated July 16, 2024 (the “Bond Resolution”), for the payment of the TIF Bonds and any bonds used to refund the TIF Bonds, Available Tax Increments (hereinafter defined) in amounts sufficient, with other funds actually appropriated by the City to the Bond Fund, to pay the principal and interest that are due pursuant to the Bond Resolution on the dates determined by the City and, if and to the extent that the Available Tax Increments are ever insufficient for such purposes, and the City advances City funds to provide prompt and full payment of the TIF Bonds, the Authority agrees to reimburse the City for such advances from Available Tax Increments thereafter received by the Authority. As used in this Agreement, “Available Tax Increments” means tax increments derived by the Authority from the District, excluding such tax increments as have heretofore been pledged to the payment of other tax increment bonds or other eligible costs. In discharging its obligations under this Agreement, the Authority expressly reserves the right to select from year to year Available Tax Increments from the District and to pledge or otherwise dedicate tax increments from the District to purposes other than the payment of the TIF Bonds upon a finding by the Authority that the estimated Available Tax Increments then remaining will be sufficient from year to year to discharge the Authority’s payment obligations on the TIF Bonds pursuant to this Agreement. An executed copy of this Agreement shall be filed with the County Auditor of Hennepin County as required by Minnesota Statutes, Section 469.178, Subdivision 2. This Agreement shall become effective upon the actual issuance and delivery of the Bonds. IN WITNESS WHEREOF, the City and the Authority have caused this Agreement to be duly approved and executed as of the day and year first above written. CITY OF EDINA, MINNESOTA By Mayor Attest: City Clerk City Signature Page Tax Increment Pledge Agreement General Obligation Bonds, Series 2024A EDINA HOUSING AND REDEVELOPMENT AUTHORITY By Chair And Secretary Authority Signature Page Tax Increment Pledge Agreement General Obligation Bonds, Series 2024A