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IP
1 CALL TO ORDER
2. ROLL CALL Linke
Quick Wuori
• Blanchard Trude
3. APPROVAL OF AGENDA
EDA ACTION: AID
Comments:
4. APPROVAL OF MINUTES; No minutes to approve at this meeting.
EDA ACTION: A T D
Comments:
1111
-2- 0,
5. CONSENT AGENDA
No items were placed on the Consent Agenda for this meeting.
EDA ACTION: A T D
Comments:
6. EDA BUSINESS:
A. Consideration of Approval of Resolution No. 94-EDA12
Appointing Members to the Economic Development
Commission
EDA ACTION: A T D •
• Comments:
B. Consideration of Resolution No. 94-EDA13 Approving and
Authorizing the Execution of a Revised Development
Assistance Agreement with MSP/Westminster, Regarding
Silver Lake Pointe Apartments (information to be
provided at Monday's meeting)
EDA ACTION: A T D
Comments:
•
4110
7. REPORTS:
Report of EDA Board Members:
1 . Report of President Linke:
2. Report of Vice President Blanchard:
3`. Report of Secretary Wuori:
4. Report of Commissioners:
a. Commissioner Quick:
b. Commissioner Trude:
5. . Report of Executive Director:
6. Report of Treasurer:
- 4 -
7. Report of Attorney:
8. ADJOURNMENT:
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
REQUEST FOR EDA CONSIDERATION
. STAFF REPORT
EDA MEETING DATE August 8, 1994
EDA Action:
Cj Special Order of Business
❑ Public Hearings Agenda Section: 6.A
Report Number: E1A-94—LQt.
Consent Agenda Report Date: 8-4-94
Z EDA Business
Item Description: Consideration of Approval of Resolution No: 94—EDA12 Appointing Members li
to the Economic Develo.ment Commission
Executive Director's Review/Recommendat'.n:
- No comments to supplement this report / ► liir
- Comnnlents attached
Explanation/Summary (attach supplement sheets as necessary)
iiotSUMMARY:
At the July work session, 13 applications were considered for Economic Development Commission members. In an effort
to create a balance between location, gender and experience to fill the four resident vacancies and three business vacancies I
for the Commission the following participants were recommended and are scheduled for appointment as Economic
Development Commission members.
II
Residents: Business Representatives:
1 • Rosemary Goff • Mark Malone-Western Bank
• Peg Mountin • Ron Schmidt- Mounds View Amoco
• Dan Nelson • Phil Seipp - SYSCO Minnesota
• Delane Welsch
I
EDA Board Member Liaison: II
It should be noteg that all of the 13 applicants were qualified for EDC membership, making the decision very difficult. All
remaining applications will be kept on file in case one of the participants are unable to perform the required duties, resigns I
or their term expires. Also since the July work session, staff has received two additional applications from residents. These i
will also be kept on file to be considered when there are member vacancies.
I
The attached resolution appoints the named individuals as EDC members effective at the first regular meeting scheduled for
August 25, 1994.
l— .._.-diiiiimi t . Olei
Cathy Bennett, s ono 1 4 c Development Coordinator I
1 11RECOMMENDATION':
I
I.
I
Staff recommends approval of Resolution No. 94-EDA12, appointing members to the Economic Development il
I Commission. 'I
•
•
RESOLUTION NO. 94-EDA12
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPOINTING FOUR RESIDENTS AND THREE BUSINESS REPRESENTATIVES TO SERVE AS
MEMBERS OF THE ECONOMIC DEVELOPMENT COMMISSION
WHEREAS, the City Council, on behalf to the Economic Development Authority, has approved the
establishment of an Economic Development Commission; and
WHEREAS, the Economic Development Commission will act as an advisory commission to the
Economic Development Authority on matters that relate to fostering a positive economic climate, encouraging economic
development, and enhancing the tax base of the City; and
WHEREAS, the membership of the Economic Development Commission is comprised of four residents
and three business representatives; and
WHEREAS, each person listed below has submitted an advisory commission application and is intereste
in appointment to the newly formed Economic Development Commission.
NOW, THEREFORE, BE IT RESOLVED that the Economic Development Authority of the City of
Mounds View hereby appoints the following persons to the Economic Development Commission, effective August 25,
1994, with terms expiring as noted:
Rosemary Goff Term expires December 31, 1994
Peg Mountin Term expires December 31, 1994
Dan Nelson Term expires December 31, 1994
Delane Welsch Term expires December 31, 1994
Mark Malone (Western Bank) Term expires December 31, 1994
Ronald Schmidt (Mounds View Amoco) Term expires December 31, 1994
Philip Seipp (SYSCO Minnesota) Term expires December 31, 1994
Adopted this 8th day of August, 1994.
ATTEST:
President
(SEAL)
Executive Director
•
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
REQUEST FOR EDA CONSIDERATION
1111 STAFF REPORT
EDA MEETING DATE August 8, 1994
EDA Action:
❑ Special Order of Business Agenda Section: 6.B
❑ Public Hearings Report Number: EDA-94-21C
❑ Consent Agenda Report Date: 8-8-94
EDA Business
Item Description: Consideration of Resolution No. 94-EDA13 Approving and Authorizing the
Execution of a Revised Development Assistance Agreement with the Silver Lake Pointe
Apartments, LLC.
Executive Director's Review/Recommendation:
- No comments to supplement this report
- Comments attached
Explanation/Summary (attach supplement sheets as necessary)
SUMMARY:
On Friday morning, August 5, 1994, Community Development Coordinator, Paul Harrington, received a call
•from Jeff Huggett of Westminster in request for an amendment to the development agreement between the
EDA and Silver Pointe Apartments, LLC (senior housing). Mr. Huggett has requested an extension to the
"drop dead" date of December 31, 1995, referenced in Article III, Section 3.1 of the Agreement,to June 30,
1996. The "drop dead" date is the date the developer must complete the improvements in accordance with the
approved construction plans. If there is a violation of the "drop dead" date , the development agreement may
be terminated. Silver Lake Pointe Apartment's construction lender has expressed a concern with completing
the project in one year. Apparently, 18 months is typically requested for completion of such a project.
The construction lender must verify financing for the project by signing off on the application to MHFA. The
application was due by the end of the day Friday,August 5, 1994. Therefore, after consultation with President
Linke and a bond attorney with Briggs and Morgan,Mr.Harrington prepared the attached letter which expresses
strong support from the community and EDA for a successful, expedient project. In addition, the letter
references that the request for an extension of the "drop dead" date would be seriously.consideredat tonight's
meeting. This letter was necessary to convince the construction lender to sign the MHFA application.
Because this is a pay-as-you-go assistance agreement, the extension of the date does not pose a financial burden
on the City. The extention merely defers the date in which the tax increment is incurred.
The attached resolution 94-EDA 13 approves and authorizes the revision of the development agreement with
Silver Lake Pointe Apartments, LLC. All other conditions of the development agreement remain the same as
presented on May 23, 1994.
i IP,
Cathy Bennett' co,omic Development Coordinator
RECOMMENDATION:
•
Motion to waive the reading and approve/disapprove Resolution No.94-EDA13 Approving and Authorizing the
Execution of a Revised Development Agreement with Silver Lake Pointe Apartments, LLC.
•
110
RESOLUTION NO. 94-EDA13
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A
REVISED DEVELOPMENT AGREEMENT WITH SILVER LAKE POINTE
APARTMENTS, LLC.
It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds
View Economic Development Authority (the "Authority") as follows:
1. Recitals.
(a) The Authority has the powers provided in Minnesota Statues, Sections 469.124
to 469.134 and 469.090 to 469.108 (collectively, the "Act").
(b) Pursuant to and in furtherance of the objectives of the Act, the Authority has
undertaken a program to promote development and redevelopment of certain land within the
Aik City of Mounds View and in this connection is engaged in carrying out the Mounds View
41. Economic Development Project (the "Project")within the City.
(c) There has been approved pursuant to the Act a Project Plan for the Project.
(d) The redevelopment and development of property within the Project by private
developers are stated objectives of the Project Plan.
(e) In order to achieve the objectives of the Project Plan, the Authority has
determined to provide substantial aid and assistance through the financing of certain of the
public costs of development.
(0 The Silver Lake Pointe Apartments, LLC (the "Developer"), has presented the
Authority with a proposal for the completion of an 83-unit apartment community, 3-story
elevatored building, located on a 2.7 acre parcel on County Road I and Mounds View Drive
just south of Highway 10 in the City, and a certain Development Assistance Agreement
between the Authority and the Developer (the "Development Agreement" - Dated May 23,
1994) stating the terms and conditions thereof and the Authority's responsibilities respecting
the assistance thereof has been presented to the Board for its consideration.
(g) The Development Agreement is revised from the similar agreement which was
approved by the Board on May 23, 1994, in that a revision has been made in reference to the
VIP Undertakings of the Developer. which changes the date of completion of improvements from
December 31, 1995 to June 30, 1996 and Undertakings of the Authority. which sets back the
taxes payable by one year.
0
RESOLUTION NO. 94-EDA13
PAGE TWO OF TWO
2. The Board hereby determines that the Authority's execution and performance of
the Development Agreement would be in furtherance of the Project Plan and hereby approves
the Development Agreement substantially in the form presented to the Board and hereby
authorizes the officers of the Authority in their discretion and at such time, if any, as they may
deem appropriate to execute the same on behalf of the Authority, with such additions and
modifications as those officers may deem desirable or necessary, as evidenced by their
execution thereof.
3. Upon execution and delivery of the Development Agreement, the officers and '
employees of the Authority'(including members of the City staff, acting in their capacity as
staff to the Authority as well) are hereby authorized and directed to take or cause to be taken
such actions as may be appropriate or necessary on behalf of the Authority to implement the
Development Agreement, including without limitation- issuance of the EDA Note and
execution of the Certificate of Completion under the Development Agreement.
-
4. The Board hereby determines that the execution and performance of the
Development Agreement will help realize the public purposes of the Act and are in furtherance io
of the Project Plan.
5. Approval of the Development Agreement is contingent upon a satisfactory
resolution of the wetland delineation issue with Rice Creek Watershed District.
Adoption by the Board of Commissioners of the Mounds View Economic Development
Authority on August 8, 1994.
ATTEST:
President
(SEAL)
Executive Director 0