HomeMy WebLinkAbout2017-04-19 HRA Regular Meeting Minutes MINUTES
• OF THE EDINA HOUSING AND REDEVELOPMENT AUTHORITY
APRIL 19, 2017
12:51 A.M.
1. CALL TO ORDER
Chair Hovland called the HRA meeting to order at 12:51 A.M.
II. ROLLCALL
Answering rollcall were Commissioners Brindle, Fischer, Staunton, Stewart, and Chair Hovland.
Ill. APPROVAL OF MEETING AGENDA
Motion made by Commissioner Brindle seconded by Commissioner Fischer approving the
Meeting Agenda.
Ayes: Brindle, Fischer, Staunton, Stewart, Hovland
Motion carried.
IV. CONSENT AGENDA ADOPTED
Motion made by Commissioner Staunton, seconded by Commissioner Stewart approving
the consent agenda as follows:
A. Approve minutes of April 4, 2017 Regular HRA Meeting
V. WEST 49-112 STREET REDEVELOPMENT—PROPOSED TERM SHEET
Economic Development Manager Neuendorf presented a summary of the proposed mixed-use
• redevelopment project on W. 49-1/2 Street and the draft Term Sheet that had been prepared over the
past four months. The presentation included a brief history of the evolution of the 5011 & France district,
including the use of tax increment financing to advance public goals. The summary of the Term Sheet
included an overview of the project and clarified the proposed improvements on the south and north
sides of the street. Manager Neuendorf explained that upon approval of the preliminary term sheet
several actions would occur including: 1) negotiations of final terms of redevelopment agreement and
real estate transaction; 2) City and HRA would pursue creation of TIF District; 3) completed plans for
final approval; 4) establishment of a firm construction schedule; 5) a refined budget; 6) developer would
secure matching funds for affordable housing units through Edina Housing Foundation; and 7) developer
and HRA would pursue grant funds. Members of the HRA asked questions of Manager Neuendorf
which he answered. Executive Director, Neal also explained that approval of the general Term Sheet
would give staff a clearer direction while still preserving all options in the future, and tonight's request
was not for final approval, but for authorization to continue with negotiations.
Motion made by Commissioner Staunton, seconded by Commissioner Fischer approving
the term sheet and authorization to proceed with final redevelopment agreement.
Ayes: Brindle, Fischer, Staunton, Hovland
Nays: Stewart
Motion carried.
VI. RESOLUTION NO. 2017-04 REQUESTING THE CITY COUNCIL OF THE CITY OF
EDINA TO CALL A PUBLIC HEARING ON THE PROPOSED MODIFICATION TO THE
REDEVELOPMENT PLAN FOR SOUTHEAST EDINA REDEVELOPMENT PROJECT AREA
AND THE PROPOSED ESTABLISHMENT OF THE SOrH & FRANCE 2 TAX INCREMENT
FINANCING DISTRICT(A REDEVELOPMENT DISTRICT)
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Minutes/HRA/April 19, 2017
Economic Development Manager Neuendorf presented a summary of the resolution and explained that •
it documents the HRA's request for the City Council to call for a public hearing on June 20, 2017. The
purpose of the public hearing is to consider the creation of a new tax increment financing district.
Motion made by Commissioner Staunton, seconded by Commissioner Fischer approving
Resolution 2017-04 requesting the City Council of the City of Edina to call a public hearing
on the proposed modification to the redevelopment plan for Southeast Edina
Redevelopment Project Area and the proposed establishment of the 50th & France 2 Tax
Increment Financing District (a Redevelopment District).
Ayes: Brindle, Fischer, Staunton, Stewart, Hovland
Motion carried.
VII. ADJOURNMENT
Chair Hovland declared the meeting adjourned at 1:21 a.m. on April 19, 2017
Respectfully submitted,
Cott Neal, Execut ve Director
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