HomeMy WebLinkAbout3.B. EDA Minutes from November 17, 2015 Consent Business 3. B.
SHAKOPEE
TO: Economic Development Authority
FROM: Lori Hensen, City Clerk
DATE: 12/15/2015
SUBJECT: EDA Minutes from November 17, 2015
Action Sought
Approve the EDA Minutes from November 17, 2015
Attachments: November 17, 2015
DRAFT
OFFICIAL PROCEEDINGS OF THE SHAKOPEE
ECONOMIC DEVELOPMENT AUTHORITY
REGULAR SESSION LOCATION Council Chambers City Hall 129 Holmes Street South November 17, 2015
SHAKOPEE MINNESOTA
7:00 p.m.
Present: President Kathi Mocol; Commissioner Matt Lehman; Commissioner Mike Luce; Commissioner Brad
Tabke; Commissioner Jay Whiting
Staff City Attorney Jim Thomson; City Clerk Lori Hensen; Economic Development Coordinator Samantha
Present: DiMaggio
1. Roll Call
2. Approval of the Agenda
Moved by Jay Whiting, seconded by Mike Luce to approve the Agenda.
Vote: 5 -0 Carried
3. Consent Business
Moved by Matt Lehman, seconded by Jay Whiting to approve the Consent Agenda.
Vote: 5 -0 Carried
A. EDA Bill List
Motion to approve bills in the amount of$11,941.60 for the EDA Fund,which allows for internal
charges that are applied to the EDA fund. (Motion carried under the Consent Agenda)
B. EDA Minutes from October 20,2015
Motion to approve the EDA Minutes from October 20, 2015. (Motion carried under the Consent
Agenda)
4. General Business
A. Commercial Exterior Improvement Program Loan--Terry and Marilyn Hennen
Ms. DiMaggio addressed the EDA regarding a request for a Commercial Exterior Improvement
Program Loan. Terry and Marilyn Hennen,owners of the building located at 101 South Lewis St. in
downtown Shakopee,have requested a deferred/forgivable loan from the City's Commercial Exterior
Improvement Program. If the application is approved,the following work will be done to the exterior
of the building:
-New windows on the second and third floors of the building
The total estimated project costs for the exterior improvements is$14,990. The second estimate
received for project showed the total project costs being$16,680. The applicant is requesting a 5
year deferred/forgivable loan in the amount of$7,495. If the EDA concurs, it should,by motion,
approve a Commercial Exterior Improvement Loan in the recommended amount of$7,495.The
EDA should also authorize the appropriate officials to enter into Repayment Agreement with Terry
and Marilyn Hennen for the building located at 101 South Lewis Street, Shakopee.
Mr. Whiting stated that this is one of the most historic buildings in downtown Shakopee,and one of
the most documented.He added that in his opinion,this is a great opportunity to restore a historic
building.
Mr. Tabke asked if the new windows will have a historic look. Ms. DiMaggio answered that the new
windows will more than likely have a similar look to the square windows that are already in the
building.
Mr.Tabke asked if the applicant is aware that if the building is sold they will be responsible to repay
the loan.Ms.DiMaggio replied that the applicant is fully aware that he must own the building for 5
years in order to have the loan 100%forgiven.
Moved by Brad Tabke, seconded by Mike Luce to approve a Commercial Exterior Improvement Loan
in the recommended amount of$7,495.The EDA should also authorize the appropriate officials to
enter into Repayment Agreement with Terry and Marilyn Hennen for the building located at 101
South Lewis Street, Shakopee.
Vote: 5 -0 Carried
5. Adjourn to Tuesday,December 15,2015 at 7:00 p.m.
Moved by Matt Lehman,seconded by Mike Luce to adjourn.
4Vote: 5 -0 Carried
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Acting Ci it • erk
Heidi Emerson
Recording Secretary