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Home My WebLink About08-12-2002CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY MEETING AGENDA Monday, August 12, 2002 6:30 pm 1. CALL TO ORDER 2. ROLL CALL: President Sonterre, Vice President Stigney, Commissioner Quick, Commissioner Marty, Commissioner Thomas 3. APPROVAL OF AGENDA 4. APPROVAL OF MINUTES A. May 13, 2002 EDA Minutes 5. SPECIAL ORDER OF BUSINESS 6. UNFINISHED BUSINESS 7. CONSENT AGENDA 8. EDA BUSINESS A. Resolution 02-EDA-167, Approving Developer Payments for Building N, Silver Lake Pointe, Midwest I.V., and Zep Manufacturing Projects 9. REPORTS A. July 22, 2002 EDA Minutes will be approved on August 26, 2002. 10. NEXT EDA MEETING: August 26, 2002 11. ADJOURNMENT PROCEEDINGS OF THE MOUNDS VIEW EDA CITY OF MOUNDS VIEW RAMSEY COUNTY, MINNESOTA Regular Meeting May 13, 2002 Mounds View City Hall 2401 Highway 10, Mounds View, MN 55112 6:30 P.M. 1. CALL MEETING TO ORDER 2. ROLL CALL: Sonterre, Stigney, Quick, and Marty. NOT PRESENT: Thomas. 3. APPROVAL OF AGENDA MOTION/SECOND: Marty/Stigney. To Approve the Agenda for May 13, 2002 as presented. Ayes – 4 Nays – 0 Motion carried. 4. APPROVAL OF EDA MINUTES A. March 11, 2002 MOTION/SECOND: Stigney/Quick. To Approve the March 11, 2002 EDA Minutes as Presented. Ayes – 4 Nays – 0 Motion carried. B. April 22, 2002 EDA Minutes MOTION/SECOND: Marty/Stigney. To Approve the April 22, 2002 EDA Minutes as Presented. Ayes – 4 Nays – 0 Motion carried. 5. SPECIAL ORDER OF BUSINESS None. Mounds View EDA May 13, 2002 Regular Meeting Page 2 6. UNFINISHED BUSINESS None. 7. CONSENT AGENDA A. Revision to City of Mounds View Economic Development Commission Bylaws MOTION/SECOND: Marty/Stigney. To Approve the Revision to the City of Mounds View Economic Development Commission Bylaws. Council Member Marty asked what the amendment was. Economic Development Coordinator Backman indicated that the section concerning the submitted date for informational packets had been changed to reflect Tuesday rather than Friday. Ayes – 4 Nays – 0 Motion carried. 8. EDA BUSINESS A. Approval of Resolution 02-EDA-163 Approving Expenditure of TIF Pool Funds for a Second Planbook for Updating and Renovating Split Level Homes. Economic Development Coordinator Backman indicated that the City authorized in 1998 the expenditure of $5,000 for the first Planbook which focused on remodeling ramblers and Cape Cod style homes. He further explained that the $60,000 cost of the first Planbook was split out among the 15 communities participating in the project. Economic Development Coordinator Backman indicated the second Planbook is under way and will be designed by the same architect as the first book. He then explained that the focus of the second Planbook would be on split-entry and split level homes and the options a homeowner has for remodeling and making improvements to those types of homes. Economic Development Coordinator Backman indicated that Brooklyn Park, Burnsville, Dakota County, Golden Valley, New Hope, and Roseville have committed $5,000 to the project and said that several others have given a tentative commitment. He also indicated that Circle Pines had committed $2,500 to the project. Economic Development Coordinator Backman indicated that due to the relatively small size of Mounds View, in comparison to the other communities, Staff felt that a $2,500 contribution would be appropriate and Resolution 02-EDA-163 has been included for consideration. Mounds View EDA May 13, 2002 Regular Meeting Page 3 Economic Development Coordinator Backman indicated that the City received 510 copies of the first Planbooks and has about 400 on hand. He then said that Staff has been coordinating with other communities to work out a trade for some remaining books. Vice President Stigney asked whether anyone had remodeled a home based on the Planbook. Economic Development Coordinator Backman indicated that homes were remodeled utilizing the Planbook within the first two years after the book was available. MOTION/SECOND: Marty/Quick. To Waive the Reading and Approve Resolution 02-EDA- 163, a Resolution Authorizing the Expenditure of TIF Pool Funds for a Second Planbook for Updating and Renovating Split Level Homes. Ayes – 4 Nays – 0 Motion carried. Economic Development Coordinator Backman indicated that the EDC meeting scheduled for Friday, May 17, 2002 may not be televised. 9. ADJOURNMENT The next EDA Meeting is May 28, 2002. President Sonterre adjourned the meeting at 6:45 p.m. Respectfully submitted, Recorded and transcribed by: Joan Lenzmeier TimeSaver Off Site Secretarial, Inc. RESOLUTION NO. 02-EDA-167 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION AUTHORIZING PAYMENT OF PAY-AS-YOU-GO DEVELOPMENT PAYMENTS TO RED CENT MANAGEMENT, LLC; HEARTLAND-MOUNDS VIEW COMMON BOND; BRIDGES LEASING COMPANY; AND KENMARK PARTNERSHIP,LLP. It is hereby resolved by the Board of Commissioners (the “Board”) of the Mounds View Economic Development Authority (the “Authority”) as follows: WHEREAS, the EDA has entered into pay-as-you -go development agreements on five properties with the developers of those properties; and, WHEREAS, first half payments for Pay 2002 regarding four of these agreements are due on August 1st; and, WHEREAS, payment of $13,429.88 to Red Cent Management, LLC (The Everest Group), for the Building N project is now appropriate; and, WHEREAS, payment of $23,422.43 to Heartland-Mounds View Common Bond for the Silver Lake Pointe project is now appropriate; and, WHEREAS, payment of $27,423.00 to 21st Century Bank on behalf of Bridges Leasing Company for the Midwest I.V. project is now appropriate; and, WHEREAS, payment of $8,118.71 to Kenmark Partnership, LLP for the Zep Manufacturing project is now appropriate. NOW THEREFORE BE IT RESOLVED, that the Mounds View Economic Development Authority, that payments of $13,429.88 to Red Cent Management, LLC, $23,422.43 to Heartland-Mounds View Common Bond, $27,423.00 to 21st Century Bank on behalf of Bridges Leasing, and $8,118.71 to Kenmark Partnership under pay-as-you -go development agreements may be made the week of August 12th and subsequently included on the August 26, 2002 Just and Correct Claims List. Adopted by the Board of Commissioners of the Mounds View Economic Development Authority this 12th day of August 2002. ___________________________ Rich Sonterre, President ATTEST: ____________________________ Kathleen Miller, Executive Director Motion: Second: Sonterre: Stigney: Quick: Marty: Thomas: PayAsYouGoPIN 2001 valuations for pay 2002 8/8/2002 Tax Capacity Captured Frozen OSA (3)Net Developer payment Retained Current Base Unavail (1)Available Rate Increment TCR (2)Fee .37%Increment Percent Amount Amount DISTRICT 1 C. G. Hill 12/31/01 due EDA 75 08-30-23-41-0011-1 23,750 468 6,217 17,533 128.954%22610 N/A 9,649.07 11681 Mod #2 08-30-23-44-0015-4 202 32 32 170 128.954%178 104.693%X 2 pymts Ending 19298.13 2002 Project total 23,952 500 6,249 17,703 128.954%22,788 84.32 22,703.68 85.00%19,298.13 3,405.55 2003 9649.065 2003 Building N 28947.195 17266.195 75 08-30-23-41-0013 3,892 503 503 3,389 128.954%4370 N/A 13,429.88 Mod #2 08-30-23-44-0017-0 46,276 2,085 21,839 24,437 128.954%25585 104.696%X 2 pymts Ending Project total 50,168 2,588 22,342 27,826 128.954%29,955 110.83 29,844.17 90.00%26,859.75 2,984.00 2013 DISTRICT 2 Silver Lake Pointe Project 90 07-30-23-12-0002-0 32,591 501 128.954%23,422.43 07-30-23-12-0002-0 9,740 0 128.954%X 2 pymts Ending Project total 42,331 501 1,818 40,513 128.954%52,243.13 N/A 193.30 52,049.83 90.00%46,844.85 5,204.98 2011 DISTRICT 3 Yrly Limit Midwest IV 54,846.00 92 05-30-23-21-0007-3 50,336 256 256 50,080 128.954%27,423.00 0 128.954%X 2 pymts Ending Project total 50,336 256 256 50,080 128.954%64,580.16 N/A 238.95 64,341.21 90.00%57,907.09 6,434.12 2005 Zep (Kenmark) 92 05-30-23-21-0002-8 21,250 186 186 21,064 128.954%8,118.71 0 128.954%X 2 pymts Ending Project total 21,250 186 186 21,064 128.954%27,162.87 N/A 100.50 27,062.37 60.00%16,237.42 10,824.95 2004 (1) (2)TCR = The tax capacity rate which is frozen; increment is calculated on the current rate or the frozen rate whichever is lower. (3) Tax Capacity According to the developer agreement a value different from the "base value" used by the county may be used in calculating the developer payment. When this is the case, an amount will appear in this column. The Office of the State Auditor (OSA) has authority to deduct an amount to administer the oversight of the state's TIF Districts. In 2001 the amount was .25%. For the first half of 2002 (only) the OSA set has the rate at .37%.