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HomeMy WebLinkAbout09-10-2001M:\MasterFiles\1999 thru 2010\2001\EDA\EDA Packets\09-10-2001\Agenda -- September 10, 2001 EDA Meeting.doc CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY MONDAY, SEPTEMBER 10, 2001 AGENDA 1. CALL MEETING TO ORDER 2. ROLL CALL: President Sonterre, Vice President Stigney, Commissioner Marty, Commissioner Quick, Commissioner Thomas 3. APPROVAL OF AGENDA 4. APPROVAL OF MINUTES A. July 23, 2001 5. SPECIAL ORDER OF BUSINESS: 6. REPORTS 7. CONSENT AGENDA a. Set a Public Hearing for Monday, September 24, 2001, at 7:05 pm, to Consider the Sale of 2625 County Highway 10 to the Mounds View Animal Hospital. 8. EDA BUSINESS 9. AD JOURNMENT PROCEEDINGS OF THE MOUNDS VIEW EDA CITY OF MOUNDS VIEW RAMSEY COUNTY, MINNESOTA Regular Meeting July 23, 2001 Mounds View City Hall 2401 Highway 10, Mounds View, MN 55112 8:56 P.M. 1. MEETING IS CALLED TO ORDER 2. ROLL CALL: President Sonterre, Vice President Stigney, Commissioner Marty, Commissioner Quick, and Commissioner Thomas NOT PRESENT: None. 3. APPROVAL OF AGENDA MOTION/SECOND: Stigney/Marty. To Approve the Agenda for July 23, 2001 as presented. Ayes – 5 Nays – 0 Motion carried. 4. APPROVAL OF MINUTES A. June 11, 2001 MOTION/SECOND: Marty/Thomas. To Approve the Minutes of the EDA for June 11, 2001 as presented. Ayes – 5 Nays – 0 Motion carried. 5. SPECIAL ORDER OF BUSINESS None. 6. REPORTS Economic Development Coordinator Parrish stated an update from the auditor on the letter was received. Staff is in the process of evaluation the letter with legal counsel. He added the City has a good legal basis on which to dispute findings. Coordinator Parrish stated that once the City has the opportunity to review the letter, it will be brought before the EDA. The Council has 60 days to respond. The final report will be received by the city. Any findings will be turned over to the City. He added there has been an ongoing review, and it will continue on in the future. Mounds View City Economic Development Authority July 23, 2001 Regular Meeting Page 2 7. CONSENT AGENDA None. 8. EDA BUSINESS a. Consider Resolution 01-EDA-149 Authorizing Expenditure of TIF Funds for the Edgewood Middle School Regional Pond Economic Development Coordinator Parrish stated this Resolution is simply authorizing the expenditure of TIF funds for the Edgewood School Pond. The amount of the expenditure is approximately $111,000. This figure reflects the estimated city contributions plus 5%. Commissioner Marty suggested that in light of the report the City received, possibly the TIF funds expenditure should be amended. President Sonterre stated it does meet the requirements. Coordinator Parrish stated this is a budgeted line item in the TIF budget. It was included in the original overall plan. MOTION/SECOND: Marty/Quick. To Approved Resolution 01-EDA-149 and Waive the Reading. Ayes – 5 Nays – 0 Motion carried. b. Provide Direction Regarding Potential Housing Replacement Program Candidate at 3025 County Road H Economic Development Coordinator Parrish explained this issue was reviewed by Staff. Staff felt it is a good candidate for the Housing Replacement Program. In light of findings by the state auditor, Coordinator Parrish’s recommendation is to hold off on this until the City has amended their TIF plans to be more appropriate. The property most likely will not stay on the market due to the extended turnaround time this amendment will take. c. Cash Flow Analysis for TIF Districts 1-3 Economic Development Coordinator Parrish stated that Staff thought it was appropriate to have a cash flow analysis of the three existing TIF Districts conducted. the City is looking at two issues. One has significant legislative impact. Additionally, the city is in the process of the Highway 10 revitalization plan and is working under a deadline with the County to have financing in place. In December, a potential component to the financing plan would be the use of tax dollars with the property tax reform. Coordinator Parrish suggested an authorization of the cash flow analysis of TIF Districts be conducted. Mounds View City Economic Development Authority July 23, 2001 Regular Meeting Page 3 Commissioner Thomas questioned whether the new compressed ratios would be used, while taking into effect the variation of the interest that would occur from less principal. She stated this will change numbers dramatically with the lost principal, so she felt this was worth it. Coordinator Parrish confirmed this. MOTION/SECOND: Thomas/Marty. To Authorize the Cash Flow Analysis. Commissioner Thomas withdrew her motion; stating this is direction to Staff and a motion is not necessary. Commissioner Marty withdrew his second. 9. ADJOURNMENT President Sonterre adjourned the meeting at 9:17 p.m. Transcribed and recorded by: Christine Moksnes Timesaver Off Site Secretarial, Inc.