HomeMy WebLinkAbout2021-10-28 HRA Regular Meeting MinutesMINUTES
OF THE REGULAR MEETING OF THE
EDINA HOUSING AND REDEVELOPMENT AUTHORITY
OCTOBER 28, 2021
7:30 A.M.
I. CALL TO ORDER
Chair Hovland called the meeting to order at 7:30 a.m. then explained the processes created for
public comment.
H. ROLLCALL
Answering rollcall were Commissioners Jackson, Pierce, Staunton, and Chair Hovland.
Absent: Commissioner Anderson.
III. PLEDGE OF ALLEGIANCE
IV. MEETING AGENDA APPROVED - AS PRESENTED
Motion by Commissioner Jackson, seconded by Commissioner Pierce, approving the
meeting agenda as presented.
Roll call:
Ayes: Commissioners Jackson, Pierce, Staunton, and Chair Hovland
Motion carried.
V. COMMUNITY COMMENT
No one appeared.
VI. CONSENT AGENDA ADOPTED - AS PRESENTED
Member Pierce made a motion, seconded by Member Jackson, approving the consent
agenda as presented:
VI.A. Approve minutes of the Regular Meeting October 14, 2021
VI.B. Approve payment of claims, HRA check register dated September 2021, totaling
$685,746.1 1
Rollcall:
Ayes: Commissioners Jackson, Pierce, Staunton, and Chair Hovland
Motion carried.
The agenda was reordered to consider Item VII.B. prior to Item VII.A.
VII. REPORTS/RECOMMENDATIONS
VII.B. RESOLUTION NO. 2021-13; ADOPTING SPENDING PLAN FOR UNALLOCATED
TAX INCREMENT FINANCING FUNDS - ADOPTED
Mr. Neuendorf said this item pertained to a spending plan for unallocated monies collected in the
Pentagon Park, 70th & Cahill and Southdale 2 Tax Increment Financing (TIF) Districts. Recent
changes in Minnesota statute allowed cities greater flexibility in spending unallocated monies to
support redevelopment and housing efforts. A Spending Plan and related Policy had been prepared
for future consideration by the City Council, after input has been obtained via a Public Hearing. He
outlined the City's three TIF accounts and their amounts totaling $9,625,200 and recommended the
City adopt a new spending plan for these funds to be invested in new project such as office, housing,
renovations, or restaurants for example. He noted the funding could only be for private investment,
nothing public, then added that funds would sunset by 2025. He shared how funds could be shared
for projects such as the Edina Theater and identified other projects included in the proposed
spending plan.
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Minutes/HRA/October 28, 2021
Nick Anhut, Ehlers and Associates, provided further background on the proposed TIF district.
The Board asked questions and provided feedback.
Member Staunton moved to adopt Resolution No. 2021-13 Adopting A Spending Plan
for The Southdale 2, Pentagon Park, And Wooddale/Valley View Tax Increment
Financing Districts. Member Jackson seconded the motion.
Roll call:
Ayes: Commissioners Jackson, Pierce, Staunton, and Chair Hovland
Motion carried.
VII.A. 4917 EDEN AVENUE — REDEVELOPMENT AGREEMENT FOR TAX INCREMENT
FINANCING — APPROVED
Economic Development Manager Neuendorf said this item pertained to the use of public financing
to partially fund private redevelopment at 4917 Eden Avenue. Special counsel at Dorsey and
Whitney had prepared a complete Redevelopment Agreement based on the Term Sheet presented
to the Edina HRA in August 2021. This Agreement would also be presented to the City Council for
consideration on November 3, 2021 and staff recommended this Redevelopment Agreement be
approved. Reuter Walton Development had requested that Tax Increment Financing (TIF) be
provided for the proposed redevelopment of commercial property at 4917 Eden Avenue. The
redevelopment proposal would transform the aging commercial site into a modern mixed -use site
that included both market -rate and affordable apartments as well as new commercial space. The
developer secured preliminary rezoning approvals for the site and scheduled for final zoning
approvals on November 3, 2021. Mr. Neuendorf spoke about the importance of providing enough
funding as well as potential public roadway improvements not otherwise in our budget. The total
development cost for the 2.08-acre site had risen to $85.0 million and Ehlers had scrutinized the
financial pro forma and determined that the financial gap was approximately $5.1 million. Hennepin
County and Edina Public Schools had been notified that the City and HRA were considering the use
of TIF in this area and a public hearing was conducted on the potential TIF District on October 19.
He spoke about public benefits such as public sidewalks and plaza, public art, future easements for
mass transit, permanent easements for the 29 parking stalls, and 10,500 square feet of land for the
future offramp and spoke about the included City's proposed diversity and equity goals.
The Board asked questions and provided feedback.
Member Jackson made a motion, seconded by Member Staunton, approving the
Redevelopment Agreement as presented.
Roll call:
Ayes: Commissioners Jackson, Pierce, Staunton, and Chair Hovland
Motion carried.
VII.S. RESOLUTION NO. 2021-13, ADOPTING SPENDING PLAN FOR UNALLOCATED
TAX INCREMENT FINANCING FUNDS
This item was considered prior to Item VII.A.
VII.C. S 146 EDEN AVENUE — REDEVELOPMENT PLANNING FOR RESTAURANT
FACILITY— REVIEWED
Mr. Neuendorf shared this item pertained to redevelopment of vacant property at 5146 Eden
Avenue. The HRA had contracted with Frauenshuh to solicit experienced operators capable of
delivering a dining and hospitality amenity. He said representatives from Frauenshuh Company had
contacted potential operators of a new restaurant facility that could potentially be located on a
portion of the HRA's property at 5146 Eden Avenue. Frauenshuh's outreach had been targeted to
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Minmtes/HRA/Octwber 28,2$21
experienced hospitality groups who have successfully opened and operated unique restaurants that
deliver an elevated dining experience in an environment that is welcoming Lofamilies and groups of
friends and colleagues, and jester Concepts had expressed interest in this site and were capable of
pursuing a new business opportunity to satisfy the HRA's timefrnme to redevelop this site in
conjunction with new housing and new outdoor public space.
Dave Anderson, Fnauenshuh, provided further information on the proposed project that would
include multi -faceted restaurant dining product.
Brent Frederick ester Concepts, 5108 Blake Road South, Edina, said he was excited to provide o
restaurant concept in Edina that would include an elevated pizza concept, restaurant bar, event
center and outdoor event space. Heshared their goal ofproviding alocal, elevated experience, with
focused hospitality and lawn events year-round. He shared their proposed modern industrial design
with shared parking with United Properties as well as on site with a nearby ramp, complimentary
valet, and spoke about their multi -faceted vision that included fami|y-fmcua, brunch, date n\ght, etc.,
with future green space, pothvvays, and outdoor space for the public.
The Board asked questions and provided feedback and was supportive of creating next steps for
creation ofarestaurant facility mtS|46Eden Avenue.
Vill. HRA COMMISSIONERS' COMMENTS —Received
IX. EXECUTIVE DIRECTOR'S COMMENTS—Receimd
X1. ADJOURNMENT
Motion made by Commissioner Staunton, seconded by Commissioner Jackson, to
adjourn the meeting at9:00 a.m.
Roll call:
Ayes: Commissioners Jackson, Pierce, Staunton, and Chair Hovland
Motion carried.
Respectfully submitted,