HomeMy WebLinkAboutResolution No. 2022-75 70th France LCDA Application
RESOLUTION NO. 2022-75
CITY OF EDINA, MINNESOTA
RESOLUTION IDENTIFYING THE NEED FOR LIVABLE COMMUNITIES DEMONSTRATION
ACCOUNT FUNDING AND AUTHORIZING APPLICATION FOR GRANT FUNDS
WHEREAS the City of Edina is a participant in the Livable Communities Act’s Housing Incentives Program for
2022 as determined by the Metropolitan Council and is therefore eligible to apply for Livable Communities
Demonstration Account funds; and
WHEREAS the City has identified a proposed project within the City that meet the Demonstration Account’s
purposes and criteria and are consistent with and promote the purposes of the Metropolitan Livable Communities Act
and the policies of the Metropolitan Council’s adopted metropolitan development guide; and
WHEREAS the City has the institutional, managerial and financial capability to ensure adequate project
administration; and
WHEREAS the City certifies that it will comply with all applicable laws and regulations as stated in the grant
agreement; and
WHEREAS the City agrees to act as legal sponsor for the projects contained in the grant applications submitted
on August 15, 2022;
WHEREAS the City acknowledges Livable Communities Demonstration Account grants are intended to fund
projects or project components that can serve as models, examples or prototypes for development or redevelopment
projects elsewhere in the region, and therefore represents that the proposed projects or key components of the
proposed projects can be replicated in other metropolitan-area communities; and
WHEREAS only a limited amount of grant funding is available through the Metropolitan Council’s Livable
Communities Demonstration Account during each funding cycle and the Metropolitan Council has determined it is
appropriate to allocate those scarce grant funds only to eligible projects that would not occur without the availability of
Demonstration Account grant funding; and
WHEREAS cities may submit grant applications for up to three projects during each funding cycle for LCDA
Development Grants and Pre-Development Grants combined, but, using the cities’ own internal ranking processes, must
rank their projects by priority so the Metropolitan Council may consider those priority rankings as it reviews applications
and makes grant awards.
NOW THEREFORE BE IT RESOLVED that, after appropriate examination and consideration, the governing
body of the City:
1. Finds that it is in the best interests of the City’s development goals and priorities for the proposed projects to
occur at these particular sites at this particular time.
2. Finds that the project components for which Livable Communities Demonstration Account funding is sought:
• will not occur solely through private or other public investment within the reasonably foreseeable future; and
• will occur within the term of the grant award only if Livable Communities Demonstration Account funding is
made available for these projects at this time.
3. Represents that the City has undertaken reasonable and good faith efforts to procure funding for the project
components for which Livable Communities Demonstration Account funding is sought but was not able to find
or secure from other sources funding that is necessary for project component completion within three years and
states that this representation is based on the following reasons and supporting facts:
• The public realm elements, sustainability measures and equitable hiring and contracting goals add significant
costs to the project.
• The development pro forma maximizes private equity and debt sources and minimizes return to the
developer while still keeping the project in the range of financial feasibility.
• While the City has agreed to pledge incremental property taxes (TIF), a financial gap continues to exist.
List project or projects applied for here:
Project Name Amount Requested
70th & France Office/Retail/Residential Mixed Use (7001-7025 France Ave) $1,650,000
4. Authorizes its City Manager or designee to submit on behalf of the City applications for Metropolitan Council
Livable Communities Demonstration Account grant funds for the project components identified in the
applications, and to execute such agreements as may be necessary to implement the projects on behalf of the
City.
Adopted by the Edina City Council this 16th day of August, 2022.
Attest:
Sharon Allison, City Clerk James B. Hovland, Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN) SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
I, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the attached and
foregoing Resolution was duly adopted by the Edina City Council at its Regular Meeting of August 16, 2022, and as
recorded in the Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this _______ day of ___________________, 2022.
City Clerk