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HomeMy WebLinkAbout3.A. Approval of Minutes: August 06, and 19, 2003 OFFICIAL PROCEEDINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY SHAKOPEE, MINNESOTA REGULAR SESSION AUGUST 6, 2003 Members Present: Link, Joos, Mars, Helkamp and Chair Lehman. Members Absent: None Staff Present: Mark McNeill, City Administrator; Judith S. Cox, City Clerk; R. Michael Leek, Community Development Director; Bruce Loney, Public Works Director/City Engineer; Gregg V oxland, Finance Director; Paul Snook, Economic Development Coordinator; Jim Thomson, City Attorney; Mark Themig, Facilities and Recreation Director; and Mark McQuillan, Natural Resources Director. I. Roll Call: Chair Lehman called the meeting to order at 7:58 p.m. Roll was taken as noted above. II. Approval of the A~enda: Chair Lehman removed Item # 5 Approval of the bills from the Consent Agenda. Link/Mars moved to approve the agenda as amended. Motion carried 5-0. III. Approval of the Consent Ae;enda: The following item was removed from the Consent Agenda. Item # 5 Approval of the bills. The following items were on the Consent Agenda. Item #4 Approval ofthe Minutes. Item # 6 Small Cities Development Program - July Update. Mars/Helkamp moved to approve the Consent Agenda as modified. Motion carried 5-0. IV. Approval of the Minutes: There were no minutes to approve this month. V. Financial V.a. Approval ofthe Bills. This item was removed from the Consent Agenda. Chair Lehman questioned Mr. Snook regarding the attorney's fees in the amount of $1,170. Mr. Snook noted some of the attorney's fees may be related to development fees and those fees were reimbursed to the City. Official Proceedings of the Shakopee August 6, 2003 Economic Development Authority Page -2- Lehman/Mars moved to approve the EDA bill list in the amount of$56,989.75. Motion carried 5-0. VI. Small Cities Development Program - July Update. Mars/Helkamp moved to accept the July, 2003 Small Cities Development Program (SCDP) Update. (Motion carried under the consent agenda.) VII. Ryan Companies US, Inc. Request to Amend Subsidies Application for Valley Green Corporate Center. Mr. Snook stated that the EDA was asked to grant authorization to Ryan Companies US, Inc. to amend its Application for Business Subsidies for the proposed Valley Green Corporate Center, and submit it to the Economic Development Advisory Committee for consideration and possible recommendation to the EDA and City Council. Mr. Snook stated that Ryan Companies would resubmit its application to the EDAC and from there the application would come to the Economic Development Authority (EDA) and then the City Council after it was reviewed by the EDA. Since the original application was received backin February there had been much discussion regarding the planning, land use and financial aspects of this project. There was not a lot of support for the financial abatement on the residential portion of the project. Mr. Snook noted the Business Subsidies application proposed to amend the residential portion (eliminating the abatement on the residential), consider a tax abatement on the retail development only and Ryan Companies was also asking for consideration that park dedication fees be waived for the residential development. This tax abatement would be dedicated to the infrastructure costs. The details of the abatement were unknown at this time. Mr. Snook noted that if the authorization to grant Ryan Companies US, Inc. permission to amend its Application for Business Subsidies were granted, the Park and Recreation Advisory Board would also review this application because Ryan Companies was asking that the Park Dedication Fees be waived. Chair Lehman pointed out that there was not much to talk about until the plans for the abatement were seen. He noted that the tax abatement for the residential sector was going to be removed and he had been opposed to this residential abatement originally. Joos/Lehman moved to grant authorization to Ryan Companies US, Inc. to amend its Application for Business Subsidies for the proposed Valley Green Corporate Center, and submit it to the Economic Development Advisory Committee and the Park and Recreation Advisory Board for their consideration and possible recommendation to the EDA and City Council. Official Proceedings of the Shako pee August 6, 2003 Economic Development Authority Page -3~ City Attorney, Jim Thomson, explained some of the wording of the proposed abatement. Mr. Snook gave an overview of what the EDAC does. He noted it was an advisory committee only that recommends. They do not have any decision making authority. Cncl. Link noted that a few years ago Valley Green petitioned to have work done on County Road 83 and County Road 16 and signed a waiver not to contest the assessments and that they would pay the assessments. Cncl. Link and the City Attorney noted that a waiver was a contract. Cncl. Link therefore, wanted to know why Valley Green was then asking the taxpayers of Shakopee to pay the assessments. Chair Lehman noted that it was Ryan Companies and not Valley Green asking for the abatement. It was not the person who petitioned for the improvement that was asking for the assistance. Cncl. Joos felt this discussion was premature because the only thing on the table was a request to accept the change. The application was not in front of the EDA tonight; it was only a request for a change. It was noted that the County should have built the roads because these were county roads that were being talked about and the assessments never would have happened. It was stated by Chair Lehman that there are rules that have to be followed to receive an abatement. Motion carried 4~ 1 with Cncl. Link dissenting. Mr. McNeill noted that Valley Green was current with paying their assessments. VII. Adjourn: Joos/Lehman moved to adjourn to August 19,2003. Motion carried 5-0. The meeting adjourned at 8: 17 p.m. ~d.~ a~ s. Cox, EDA Secretary Carole Hedlund Recording Secretary OFFICIAL PROCEEDINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY SHAKOPEE,MINNESOTA ADJ. REGULAR SESSION AUGUST 19,2003 Members Present: Link, Joos, Mars, Helkamp and Chair Lehman. Members Absent: None Staff Present: Mark McNeill, City Administrator; Judith S. Cox, City Clerk; R. Michael Leek, Community Development Director; Bruce Loney, Public Works Director/City Engineer; Gregg Voxland, Finance Director; Jim Thomson, City Attorney. I. Roll Call: Chair Lehman called the meeting to order at 7:22 p.m. Roll was taken as noted above. II. Approval of the A2enda: Joos/Link moved to approve the agenda. Motion carried 5~0. III. Resolution 2003-04, Approving the Execution and Delivery of an Indenture of Trust and Other Documents Related to the Northridge Apartments Project: Mr. McNeill noted this was an item relating to the follow-up and the fmancing of the Northridge Apartments project. This action was taken per Councils direction after the June 3, 2003, meeting. Joos/Link offered Resolution No. 2003-04, approving the Execution and Delivery of an Indenture of Trust and Other Document Related to Northridge Apartments Project, and moved its adoption. Cncl. Lehman noted that he would like to read the document. . Mr. McNeill noted the City could provide copies of the full agreement. Cncl. Lehman stated that he wanted to make sure what he had been asking for was actually in the agreement. Cncl. Lehman wanted to make sure if the project did not succeed not only would the City have a financial interest in the land but in the building also. Barb Portwood, on behalf of Scott County HRA, approached the podium and stated since the development agreement had been negotiated there had been further developments; therefore, Scott County was putting its full faith and credit behind the bonds. The City's full statutory limit will be pledged to reimburse the County, as a result of this, the document currently provided that the first mortgage was in favor of the County but to the extent that the City reimbursed the County there would be a seeond mortgage in favor of the City. This did secure the City. Motion carried 5-0. . ---. Official Proceedings of the Shakopee August 19,2003 Economic Development Authority Page -2- IV. Other Business: There was no other business. V. Ad.iourn: JooslLehman moved to adjourn. The meeting adjourned at 7:25 p.m. Motion carried 5-0. cn~o~ ~ EDA Secretary Carole Hedlund Recording Secretary