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HomeMy WebLinkAboutHRA MINUTES 032819951 CITY OF ST. ANTHONY HOUSING AND REDEVELOPMENT AUTHORITY MEETING MINUTES 3 MARCH 28, 1995 4 I. CALL TO ORDER/ROLL CALL. 5 The meeting was called to order at 8:53 P.M. 6 II. ROLL CALL. 7 Commissioners Present: Chair Ranallo, Vice Chair Enrooth, Commissioners Wagner and 8 Fleming. 9 Commissioners Absent: Secretary/Treasurer Marks 10 Also Present: Executive Director Michael Morrison. 11 III. APPROVAL OF MARCH 28, 1995 H.R.A. AGENDA. 12 Motion by Enrooth, second by Fleming to approve the March 28, 1995 H.R.A. Agenda as 13 presented. 14 Motion carried unanimously, 15 IV. APPROVAL OF FEBRUARY 28, 1995 H.R.A. MINUTES. Motion by Fleming, second by Wagner to approve the February 28, 1995 H.R.A. minutes as presented. 18 19 Motion carried unanimously, 20 V. PRESENTATION OF CLAIMS. 21 Motion by Wagner, second by Enrooth to approve the following claims: 22 A. Hennepin County, in the amount of $3.99 for settlement period of December 23 1994. 24 B. American Bank. N.A., in the amount of $266.25 for Go refunding bonds for 25 period of August 24, 1994 to February 20, 1995 and $295.95 for tax increment 26 refunding bonds for period of August 25, 1994 to February 20, 1995. 27 C. Dorsey & Whitney. in the amount of $345.00 for legal services rendered through 28 January 31, 1995 for 3111 Silver Lake Road, $976.25 for legal services rendered 29 through January 31, 1995 for Apache Plaza TIF Project, and $68.75 for legal 30 services rendered through January 31, 1995 for City of St. Anthony HRA General. 31 D. Williams / O'Brien Associates. Inc., in the amount of $25,603.00 for professional 32 services rendered through February 28, 1995 regarding the Community Service .33 Center. 34 35 Motion carried unanimously. q6 VI. H.R.A. RESOLUTION 1995-003, RE: APPROVE SALE OF 3111 SILVER LAKE 37 ROAD. • 1 2 3 4 5 6 7 8 9 V 12 13 14 •5 16 Housing and Redevelopment Authority Meeting Minutes February 28, 1995 Page 2 Ranallo indicated he would like it added to the resolution that the purchaser of the property is constructing a new home with a market value of $185,000.00. Momson stated this was included in the developer agreement. Motion by Enrooth, second by Wagner to adopt Resolution 1995-003, approving the sale of property known as 3111 Silver Lake Road. Motion carried unanimously. VII. EXECUTIVE DIRECTOR'S REPORT. Executive Director Mornson reported that in regards to the Apache Plaza redevelopment project, the bank and CUB are currently negotiating and Knox is still interested. Momson reported in regards to the American Monarch property, the City could give TIF assistance of $125,000.00 over a ten year period. This would result in a $1.2 to $1.8 million in value increase. This would increase taxes from $57,000.00 to $86,000.00. The resulting LGA penalty would be $8,000.00. There is still a variance issue and the railroad lease problem. Momson stated there were no new developments in the sale of the St. Anthony Lanes, Inc., Bowling Alley. 17 Mornson reported Bruce Nedegaard is planning to sell additional property to Mr. 18 Schroeder to enable him to build a home. He intends to move a single family home onto 19 the lot next to Schroeder's. He will then construct six twinhomes on the remaining 20 property. Momson stated the developer is currently looking at public funding options. 21 The property is in the TIF district and the budget could be amended to allow $80,000.00 22 based on six twinhomes. There will be a need for platting and rezoning hearings. The 23 current value of approximately $150,000.00 will increase to $1.1 million. 24 Momson reported Lang Nelson is intending to purchase 10 homes between Kenzie and 25 Lowry Avenue and construct a 50 unit senior assisted housing project on the property. 26 The developer is currently analyzing the feasibility and may start contacting property 27 owners. 28 Momson reported on March 14th, he met with John Beal and a Developer who is 29 interested in the Makowske property and possibly three other properties, to construct up 30 to 30 townhomes, owner -occupied. He stated they are tentatively looking at a $3 million 31 increase in valuation and $350,000.00 in tax increment financing. He stated there will be a need for rezoning and planning hearings, as well as tax increment hearings. The City 3 could provide $220,000.00 in TIF for 18 townhomes, which is Phase 1. The current Housing and Redevelopment Authority Meeting Minutes • February 28, 1995 Page 3 $600,000.00 value could increase to $2.6 million. The current $8,000.00 in taxes could increase to $43,000.00. There would be a resulting LGA penalty of $12,000.00 3 Morrison reported Jim Nesser is interested in purchasing the Clark Station property 4 ($70,000.00 asking price) to construct an office building costing approximately 5 $150,000.00. He would need rezoning and would like financial assistance. 6 Morrison reported the proposed Verkins Addition is a request for a subdivision of 7 property located at 29th and Old Highway 8. He stated there are currently three buildings 8 on this property. It is being proposed to demolish one of the buildings and construct three 9 new homes. He indicated they are requesting no assistance but may require some setback 10 variances to accommodate the lot. He stated this item is scheduled for the April 18th I I Planning Commission meeting. 12 Morrison then distributed a memorandum regarding the process for the Clark Station 13 property. He indicated it would be the same process used for 311 l and 3112 Silver Lake 14 Road. He stated the only difference is that the developers will be given funds after the 15 property is constructed. This would save the City money as there would be reduced _16 ' attorney cost, no interest income would be lost, and a developers agreement would not be necessary. There would be no risk for the City if handled this way. 18 Ranallo asked if the City was willing to rezone the Clark Station property. 19 Enrooth indicated all of the other three comers are zoned light -industrial. 20 There was Council consensus to use this process in regards to the Clark Station property 21 and any future projects where it would be applicable. 22 Morrison then reported the funds in the TIF accounts exceeds the debt service obligation. 23 He distributed a memorandum which illustrated the possible uses of the funds and the 24 benefits. He stated there is a bill that will probably be passed which states that all 25 districts created pre -1990 need to be de -certified unless the budget is amended by July 1, 26 1995. He indicated it is necessary to determine the amount of excess and identify 27 possible expenditures and the amount needed for these projects. He stated there is some 28 funds in the TIF accounts. He explained the benefits where there would be no LGA loss, 29 the City may not have to issue bonds, and may not have to put some of the property in the 30 district, which would allow the City to benefit immediately from the development. 31 Motion by Wagner, second by Enrooth to allow Evergreen Townhomes a maximum of 32 $150,000.00 TIF funds for soil correction, with City Manager to work out the details. 03 Motion carried unanimously. 34 Housing and Redevelopment Authority Meeting Minutes • February 28, 1995 Page 4 1 Motion by Enrooth, second by Wagner to set up assistance for Jim Nesser, Clark Station 2 property in an amount up to $20,000.00 in TIF or HRA funds for redevelopment of site. 3 Motion carried unanimously. 4 VIII. ADJOURNMENT. 5 Motion by Enrooth, second by Wagner to adjourn the meeting at 9:30 P.M. 0 7 Respectfully submitted, 8 Lorri Kopischke 9 TimeSaver Off Site Secretarial • 0 Motion carried unanimously.