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HomeMy WebLinkAbout05-13-2013PROCEEDINGS OF THE MOUNDS VIEW EDA CITY OF MOUNDS VIEW RAMSEY COUNTY, MINNESOTA Regular Meeting May 13, 2013 Mounds View City Hall 2401 Highway 10, Mounds View, MN 55112 6:01 P.M. 1. CALL MEETING TO ORDER 2. ROLL CALL: President Flaherty, Vice President Gunn, Commissioner Hull, Commissioner Meehlhause, Commissioner Mueller, and Executive Director Ericson. NOT PRESENT: None. 3. APPROVAL OF AGENDA MOTION/SECOND: Mueller/Meehlhause. To Approve the May 13, 2013, Agenda as presented. Ayes – 5 Nays – 0 Motion carried. 4. PUBLIC INPUT None. 5. APPROVAL OF MINUTES None. 6. CONSENT AGENDA None. 7. EDA BUSINESS A. Resolution 13-EDA-275 Amending Mounds View Home Improvement Loan Program. Economic Development Specialist Steinmetz stated on April 22nd the EDA discussed this item and two possible changes to the Home Improvement Loan Program. She requested the EDA approve the loan program with the proposed amendments. Mounds View EDA May 13, 2013 Regular Meeting Page 2 Commissioner Mueller requested clarification from Staff on why the budget for the home loan program was reduced and how those additional funds would be used. Economic Development Specialist Steinmetz explained the Home Improvement Loan Program was being reduced from $150,000 to $100,000 and the additional $50,000 would be set aside for County Road 10 corridor improvements. The change was made to assist in reaching the Council’s 2013 goals to revitalize the corridor. MOTION/SECOND: Gunn/Hull. To Waive the Reading and Adopt Resolution 13-EDA-275 Amending Mounds View Home Improvement Loan Program. Ayes – 5 Nays – 0 Motion carried. B. Resolution 13-EDA-276 Amending Mounds View Business Improvement Partnership Loan Program. Economic Development Specialist Steinmetz stated the Mounds View Business Improvement Partnership Loan program was discussed by the EDA on April 22nd. Two revisions were proposed regarding the amount of time a business had to be located in the City of Mounds View and to not require the business applicants to provide duplicate financials to the City, when these were already necessary for the bank. She recommended the EDA approve the amendments to the Business Improvement Partnership Loan Program. President Flaherty approved of the potential changes as it could assist new businesses in the City. MOTION/SECOND: Mueller/Meehlhause. To Waive the Reading and Adopt Resolution 13- EDA-276 Amending Mounds View Business Improvement Partnership Loan Program. Ayes – 5 Nays – 0 Motion carried. C. Resolution 13-EDA-277 Authorizing and Approving the Authority’s Purchase Offer for the Property Located at 2400 County Road H2, Mounds View, Ramsey County, Minnesota, and Approval of the Terms and Conditions and Purchase Agreement. Executive Director Ericson indicated the City was made aware of the availability of the parcel at 2400 County Road H2 and met in Closed Session to discuss the purchase of this property. A letter of intent was finalized with the seller and was reviewed by the Authority. He noted the purchase price for this property would be $729,000 and was consistent with the priorities for the County Road 10 corridor. He indicated the property was just over two acres in size and would provide a meaningful site for redevelopment along the corridor. Staff recommended the Authority authorize and approve the purchase offer for the property at 2400 County Road H2. Mounds View EDA May 13, 2013 Regular Meeting Page 3 He commented the purchase would be funded through unobligated tax increment finance dollars. Commissioner Hull asked how the purchase would be funded. Executive Director Ericson explained the City had three TIF districts that would be expiring shortly and increment dollars from these districts would be used for the purchase. Commissioner Mueller questioned if the environmental inspections would be completed. Executive Director Ericson stated this would be investigated further by Staff and an environmental study may not be necessary as the City was aware of the history of the site. He indicated if a study was necessary it would be completed prior to June 30th. Commissioner Meehlhause inquired if an appraisal would be completed. Executive Director Ericson stated it was Staff’s recommendation to not conduct an appraisal as the City had a good idea of the property’s valuation. Commissioner Meehlhause clarified that the City’s broker fees would be paid by the Seller. Executive Director Ericson commented this was the case. Commissioner Hull questioned the taxable value of the three parcels near the intersection of H2. Executive Director Ericson indicated the tax value of the three parcels was $1.37 million. He stated if and when the parcels were to redevelop, this value would increase. President Flaherty indicated the purchase of this property fit into the City’s vision for the revitalization of the County Road 10 corridor. He questioned if the property taxes through June of 2013 would be paid in full prior to closing. City Attorney Riggs noted this would be reviewed prior to closing through the title work. President Flaherty stated this was a wise purchase that fit the City’s vision for the corridor. MOTION/SECOND: Gunn/Mueller. To Waive the Reading and Adopt Resolution 13-EDA-277 Authorizing and Approving the Authority’s Purchase Offer for the Property Located at 2400 County Road H2, Mounds View, Ramsey County, Minnesota, and Approval of the Terms and Conditions and Purchase Agreement, adding a fifth condition stating the purchase would be funding by unobligated tax increment finance dollars. Commissioner Meehlhause supported the purchase as it coordinated well with the EDA’s vision for the Highway 10 corridor, along with the Council’s 2013 priorities. He noted this purchase would have no financial impact on the Mounds View residents. Commissioner Hull indicated he too supported the purchase as it would lead to healthy redevelopment along the corridor. Mounds View EDA May 13, 2013 Regular Meeting Page 4 Ayes – 5 Nays – 0 Motion carried. 8. REPORTS Executive Director Ericson stated the EDC would be meeting on Friday morning. 9. NEXT EDA MEETING: Monday, Tuesday, May 28, 2013, at 6:30 p.m. 10. ADJOURNMENT President Flaherty adjourned the meeting at 6:31 p.m. Respectfully submitted, Recorded and transcribed by: Heidi Guenther TimeSaver Off Site Secretarial, Inc.