My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
EDC 11-03-2004
ArdenHills
>
Administration
>
Commissions, Committees, and Boards
>
Economic Development Commission (EDC)
>
EDC Minutes
>
2004
>
EDC 11-03-2004
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/8/2007 1:07:04 PM
Creation date
11/13/2006 1:38:00 PM
Metadata
Fields
Template:
General (2)
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
Page 1 of 1
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br /> ~ <br /> . ~~ILLS <br /> CITY OF ARDEN HILLS, MINNESOTA <br /> ECONOMIC DEVELOPMENT COMMISSION <br /> NOVEMBER 3,2004,7:00 A.M. <br /> CITY HALL 2NI} FLOOR CONFERENCE ROOM, 1245 WEST HIGHWAY 96 <br /> The Chair convened the meeting at 7:05 a.m, <br /> Those Present: Chair Mayor Aplikowski, Vice-Chair Kunkel, Kelly, Paulet, Werner, Ashbach <br /> and Beane. McGraw excused. Staff: Scott Clark, Community Development Director. <br /> The Mayor presented for approval the minutes of the September 29,2004 and October 20,2004 <br /> EDC meeting. No additions were noted and the Commission approved as written. <br /> Clark reviewed a summary of the Ehlers presentation entitled "Economic and Redevelopment <br /> Financing Tools Overview", dated October 26, 2004. A copy of the same is attached as part of <br /> the minutes, <br /> The next item was review of the Silver Lake Village project in St. Anthony, St. Anthony <br /> Councilmember Jerry Faust and City Administrator Mike Momson gave the presentation on <br /> history, financial strategies and their perspectives on implementing a successful redevelopment <br /> plan. Key comments are as follows: <br /> . 1) Create a community consensus through stakeholders meetings. <br /> 2) Establish a Design Framework Plan and establish a Committee to review. The <br /> Framework Plan should be viewed as a philosophy rather than a defined prescription. <br /> 3) Keeping your "eye on the prize" and not getting lost in the details. <br /> 4) Working with a financial group to create a "Key Financial Strategy". This helped <br /> them not only in their redevelopment strategy but overall to ascertain what they, as a <br /> City, could take on from both a monetary bases and time. <br /> 5) Reviewed miscellaneous financing techniques including: 1) Temporary General <br /> Obligation Bonds 2) Taking administrative fees on Housing Revenue Bonds 3) <br /> Increasing SAC/WAC fees 4) Establishing "Look Back" provisions in their <br /> development contracts. <br /> 6) The School District embraced the addition of the proposed 600 housing units. <br /> 7) Constant communication is key. <br /> 8) The Council accepted the need for economic development assistance from the <br /> beginning. They then worked with the staff/consultant to establish the framework for <br /> the levels of assistance and then had the transactions brought back to them for <br /> approval. <br /> 9) Independent analysis ofthe business transactions is critical. <br /> 10) Review oftheir creative financing package with the State Auditor on selected points, <br /> This presentation ended at 8:40 a.m. The Chair and the Commissioners had a general discussion <br /> . on the aforementioned discussion. The next meeting is scheduled for November 17, 2004. <br />
The URL can be used to link to this page
Your browser does not support the video tag.