HomeMy WebLinkAbout2013-12-03 HRA Regular Meeting MINUTES
OF THE EDINA HOUSING AND REDEVELOPMENT AUTHORITY
HELD AT CITY HALL
DECEMBER 3, 2013
9:51 p.m.
CALL TO ORDER
Chair Hovland called the HRA meeting to order at 9:51 p.m.
ROLLCALL
Answering rollcall were Commissioners Bennett, Brindle, Sprague, Swenson and Chair Hovland.
APPROVAL OF MEETING AGENDA
Motion made by Commissioner Bennett, seconded by Commissioner Swenson approving the Meeting
Agenda.
Ayes: Bennett, Brindle, Sprague, Swenson, Hovland
Motion carried.
MINUTES OF THE REGULAR MEETING OF NOVEMBER 19, 2013 APPROVED
Motion made by Commissioner Swenson, seconded by Commissioner Bennett approving the Minutes of the
Meeting of the Edina Housing and Redevelopment Authority for November 19, 2013.
Ayes: Bennett, Brindle,Sprague, Swenson, Hovland
Motion carried.
RESOLUTION 2013-16 ADOPTED REQUESTING EDINA CITY COUNCIL HOLD PUBLIC HEARING: PROPOSED
MODIFICATION TO REDEVELOPMENT PLAN FOR SOUTHEAST EDINA REDEVELOPMENT PROJECT AREA
Economic Development Manager Neuendorf explained the Pentagon Park office park, consisting of fifteen
multi-tenant office buildings was built in the late 1960s. For several decades, it was well positioned in the
market place and had much success. In the past decade however, its dated layout and aging infrastructure has
made it considerably less desirable. When new owners purchased the property out of foreclosure in 2012,
many of the buildings were largely vacant and in need of considerable repair.
Mr. Neuendorf stated the City Council & HRA have the authority to establish a new TIF District provided that
such action is in accordance with the applicable provisions of State Law. He noted that since 2004, the
assessed valuation of the Pentagon Park properties has declined by 60% and the vacancy rate exceeded the
marketplace. Mr. Neuendorf noted almost every building needed significant repair after several years of
deferred maintenance. He concluded that the area was in need of redevelopment to reverse the downward
trend. Mr. Neuendorf said while, no specific design has been decided upon; the future land use will include a
mixture of uses and will likely require significant improvements in the public infrastructure.
The establishment of a new Tax Increment Financing District would allow the City to consider a public/private
partnership in the future so that the full potential of this important business/mixed use district can be realized.
The HRA must request the City Council schedule a public hearing in order to give consideration to a
redevelopment strategy for this declining area of the city.
Motion made by Commissioner Sprague, seconded by Commissioner Bennett adopting Resolution No. 2013-
16 requesting the City Council schedule a public hearing to consider a Modification to the Redevelopment
Plan for Southeast Edina Redevelopment Project Area.
Ayes: Bennett, Brindle, Sprague, Swenson, Hovland
Motion carried.
Chair Hovland declared the meeting adjourned at 9:25 p.m.
Respectfully submitted,
Scott Neal, xecutive Director