HomeMy WebLinkAbout06-14-2021 EDAAPPROVED
PROCEEDINGS OF THE MOUNDS VIEW EDA
CITY OF MOUNDS VIEW
RAMSEY COUNTY, MINNESOTA
Regular Meeting
June 14, 2021
Mounds View City Hall
2401 Mounds View Boulevard, Mounds View, MN 55112
1. CALL MEETING TO ORDER
President Mueller called the meeting to order at 6:31 p.m. Due to the COVID-19 pandemic this
meeting was held virtually.
2. ROLL CALL: President Mueller, Vice President Cermak, Commissioner Bergeron
Commissioner Hull, Commissioner Meehlhause, and Executive Director Zikmund.
NOT PRESENT: None.
3. APPROVAL OF AGENDA
MOTION/SECOND: Meehlhause/Hull. To Approve the June 14, 2021, Agenda as presented.
A roll call vote was taken.
Ayes – 5 Nays – 0 Motion carried.
4. CONSENT AGENDA
A. May 10, 2021, EDA Minutes.
MOTION/SECOND: Hull/Bergeron. To Approve the Consent Agenda as presented.
A roll call vote was taken.
Ayes – 5 Nays – 0 Motion carried.
5. PUBLIC COMMENT
None.
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6. EDA BUSINESS
A. 21-EDA-344, A Resolution Supporting Use of Financial Assistance for a
Rental Housing Development Project.
Assistant City Administrator Beeman requested the EDA support the use of financial assistance
for a rental housing development project. He explained MWF was proposing a senior housing
project on the Skyline Motel property and was requesting both TIF and conduit revenue bonds.
He reported this Resolution of Support would assist MWF in securing the financing necessary to
complete this project.
Jason Aarsvold, Ehlers & Associates, discussed the TIF findings in further detail with the EDA.
He explained the Minnesota Housing organization requires a Resolution of Support for projects
requesting tax credits and bonds. He indicated the Resolution of Support does not commit the
City to providing TIF, rather a full process would have to be followed in order to create a TIF
District. However, the Minnesota Housing organization does like to see the City committed to
the project. He commented further on the amount of TIF that would be necessary to make this
project financially feasible. He recommended $1.9 million in TIF be considered versus the
requested $2.4 million that was requested by the developer.
President Mueller questioned what the total cost was for this project. Mr. Aarsvold reported the
project would cost $26.6 million to complete.
MOTION/SECOND: Meehlhause/Hull. To Waive the Reading and Adopt Resolution 21-EDA-
344, A Resolution Supporting Use of Financial Assistance for a Rental Housing Development
Project.
A roll call vote was taken.
Ayes – 5 Nays – 0 Motion carried.
7. REPORTS
A. EDA Lot Purchase Agreement Update
Assistant City Administrator Beeman provided the EDA with an update on the Letter of Intent
that has since expired for the Simon’s lot. He explained the City has another party interested in
putting a dental office on this lot. He indicated City staff would be pursuing this opportunity.
Commissioner Bergeron asked if this purchase agreement would include the City owned lot
behind Simon’s. Assistant City Administrator Beeman reported this was the case, noting there
would be a dual sale between the City of Mounds View, Simon’s and the dental office developer.
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8. NEXT EDA MEETING: Monday, June 28, 2021 at 6:30 p.m.
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9. ADJOURNMENT
President Mueller adjourned the meeting at 6:48 p.m.
Respectfully submitted,
Recorded and transcribed by:
Heidi Guenther
Minute Maker Secretarial