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HomeMy WebLinkAbout3. Approval of Minutes: June 03, and July 01, 2003 OFFICIAL PROCEEDINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY SHAKOPEE,MINNESOTA REGULAR SESSION June 3, 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; Jim Thomson, City Attorney; Gregg V oxland, Finance Director; Paul Snook, Economic Development Coordinator and Tracy Schaefer, Assistant to the City Administrator. I. Roll Call: Chair Lehman called the meeting to order at 7:15 p.m. Roll was taken as noted above. II. Approval of the Agenda: Link/Mars moved to approve the agenda as presented. Motion carried 5-0. III. Approval of the Consent Agenda: The following items were on the Consent Agenda. Item # 4 Approval of Minutes for April 15 and May 6, 2003. Item # 6 Approval of the Bills. Item # 7 Small Cities Development Program - May Update, Helkamp/Link moved to approve the Consent Agenda as written. Motion carried 5-0, IV. Approval of Minutes for April 15 and May 6, 2003: Helkamp/Link moved to approve the Minutes for April 15 , and May 6, 2003. (Motion carried under the Consent Agenda). V. Financial: A. Approval of the Bills: Helkamp/Link moved to approve the EDA bil1list in the amount of$19.28. (Motion carried under the Consent Agenda). VI. Small Cities Development Program - May Update: Commissioners received a written update on the Program for May. Official Proceedings of the June 3,2003 Shakopee Economic Development Authority Page -2- VII. Resolution No. 03-03. Approving the Execution of Delivery of a Development Agreement between the Scott County Housing and Redevelopment Authority, City of Shakopee, and Shakopee Economic Development Authority for development of the proposed Northridge Court Apartments. Mr. Snook reported on Resolution No, 03-03. This was for the developer's agreement that was to replace the joint powers agreement that was agreed to on April 15th, Mr. Snook noted that staff had reviewed the developer's agreement, as well as the City Attorney, and they were okay with the agreement. The Scott County HRA would issue the bonds for the project with the housing lease revenues to pay the debt service. Mr, Snook noted there were be security for the bonds, Mr. Snook noted that in a worse case scenario the debt service would be $430,000 annually and over the life ofthe bonds (30 years) it would be $12,900,000. The chance of this coming back to the City was very remote, stated Mr. Snook. Mr, Snook noted there would be a conveyance of property between the City of Shako pee and Scott County HRA and Scott County HRA and the City of Shakopee. The City of Shakopee will convey the property on which the senior housing complex would be developed and Scott County HRA would convey to the City of Shakopee the property where the 50-stall City parking lot would be constructed after the improvements have been completed. Mr. Snook noted that the City of Shakopee and Scott County HRA would share equally in the funding of a 39-stall parking lot on Levee Drive (approximately $36,000 each). Mr, Snook mentioned other items on the schedule that Scott County HRA needed to do. Mr, Snook noted that Scott County HRA would reimburse the City for costs relating to the bond issuance, Mr. Snook noted that the $7 million in bonds to be issued by the Scott County HRA would count against the City limit of a $10 million annual bond limit for banle qualified bonds. As of this date the City is still under this threshold. It is not anticipated that the City will exceed this limit. Mr. Snook stated that the Economic Development Authority (EDA) was asked to consider Resolution No, 03-03, Approving the Execution and Delivery of a Development Agreement with the Scott County Housing and Redevelopment Authority, and approve its adoption, Chair Lehman noted the request he asked to be included in the developer's agreement was in the agreement now and he was satisfied with the protection for the City. Mr. McNeill noted some of the changes that had been made to the developer's agreement. Official Proceedings of the June 3, 2003 Shakopee Economic Development Authority Page -3- Mr. McNeill noted the City was taking quotes on demolishing the old park and recreation building, along Levee Drive, now. Mr. McNeill noted the HRA cost participation for the 39-stall parking lot was fixed according to the language in the contract. Bill Jaffa, Executive Director for the Scott County Housing and Redevelopment Authority, approached the podium and stated Scott County HRA was looking forward to working with the City on this project. Mr. Jaffa stated that last fall the City and Scott County HRA did agree to workjointly to try and secure a Livable Communities Act demonstration account grant to fund the Riverfront corridor development. Mr. Jaffa noted that the grant application was being pursued. Mr. Leek, Community Development Director, approached the podium and explained the two different livable communities grants. He noted he was working on getting all the information put together to send to LSA Designs so there could be a slick looking presentation for the application for the Livable Communities Act demonstration account grant. This was a two-phase project with the first application being due in July. Mr. Leek noted that scope for this grant would probably be for transit enhancements in connection with the Northridge senior development. Mr, Leek thought perhaps the cost of the 39-space parking lot as well as streetscape and some transportation connections associated with the opening of Fuller Street would be included in the grant application proposal. Mr. Leek noted this might be the first phase of many applications if long range planning was done for the 1 sl A venue corridor, Cncl.Link noted that his concerns have been answered. Link/Mars offered Resolution No, 03-03, A Resolution Approving The Execution And Delivery Of A Development Agreement With Scott County Housing and Redevelopment Authority, and moved its adoption. Motion carried unanimously, VIII. Other Business: There was no other business. IX. Adjourn: Mars/Helkamp moved to adjourn the meeting. The meeting adjourned at 7:31 p.m. Motion carried 5-0, Qm~~-~ EDA Secretary Carole Hedlund Recording Secretary OFFICIAL PROCEEDINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY SHAKOPEE, MINNESOTA REGULAR SESSION July 1, 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; Jim Thomson, City Attorney; Mark Themig, Facilities and Recreation Director and Tracy Schaefer, Assistant to the City Administrator. I. Roll Call: Chair Lehman called the meeting to order at 7:21 p.m. Roll was taken as noted above. II. Approval of the A2enda: Chair Lehman approved the agenda as written. Motion carried 5-0. III. Approval of the Consent A2enda: The following item was on the Consent Agenda. Item # 4 Approval of Minutes for May 20,2003. Item # 6 Approval of the bills. J oos/Mars moved to approve the Consent Agenda as written. Motion carried 5-0. IV. Approval of Minutes for May 20. 2003: Joos/Mars moved to approve the Minutes for May 20,2003. (Motion carried under the Consent Agenda). V. Financial A. Approval of the Bills: Joos/Mars moved to approve the EDA Bill list in the amount of$534.29. (Motion carried under the Consent Agenda). Chair Lehman asked Mr. McNeill a question regarding the Kennedy and Graven Attorney fees. Mr. McNeill responded to the question and noted he would follow-up. Chair Lehman was acceptable. VI. Other Business: None. Official Proceedings of the Shakopee July 1, 2003 Economic Development Authority Page -2- VII. Adiourn: Helkamp/Joos moved to adjourn the meeting. The meeting adjourned at 7:23 p.m. Motion carried 5-0. U~lvJ.Cq~ dith S. Cox, EDA Secretary Carole Hedlund Recording Secretary