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HomeMy WebLinkAbout10-28-13 ii It �fikDE_N HILLS Approved: CITY OF ARDEN HILLS,MINNESOTA ECONOMIC DEVELOPMENT AUTHORITY MEETING OCTOBER 28,2013 6:00 PM—CITY HALL CALL TO ORDER/ROLL CALL Pursuant to due call and notice thereof, President Grant called to order the Economic Development Authority meeting at 6:02 p.m. Present: EDA President David Grant; EDA Commissioners Brenda Holden, Fran Holmes, Dave McClung, and Ed Werner Absent: None Also present: Treasurer Sue Iverson; Executive Director Jill Hutmacher; Community Development Intern Matthew Bachler; and City Clerk Amy Dietl 1. APPROVAL OF AGENDA MOTION: EDA Commissioner Holmes moved and EDA President Grant seconded a motion to approve the meeting agenda as presented. The motion carried unanimously (5-0). 2. APPROVAL OF MINUTES A. July 29, 2013, Regular EDA B. August 26, 2013, Special EDA MOTION: EDA Commissioner Holmes moved and EDA Commissioner Holden seconded a motion to approve the July 29, 2013, regular Economic Development Authority and August 26, 2013, special Economic Development Authority minutes as presented. The motion carried unanimously (5-0). 3. CONSENT CALENDAR ARDEN HILLS EDA MEETING—OCTOBER 28, 2013 2 None. 4. NEW BUSINESS A. Approve Preliminary 2014 EDA Budgets Treasurer Iverson reviewed the preliminary 2014 EDA budgets in detail. These budgets are: the summary page showing all of the EDA budgets, the EDA General Fund, the Revolving Loan Fund, TIF 2, TIF 3, and TIF 4. At the last EDA meeting, a transfer was approved as well as a budget amendment to remove non-tax increment revenues from TIF 2 and place them into the PIR Fund. This change has been made, and as a result, the interest income in that fund has been revised. There have not been any other major changes to these budgets since the last meeting. She requested the EDA approve the preliminary EDA budgets. President Grant asked which TIF District funds would assist with the Round Lake Road project. Treasurer Iverson indicated that it would be TIF District 2. EDA Commissioner Holden questioned if the gateway sign amounts should be reduced. Treasurer Iverson stated that the amount was reduced from $50,000 to $40,000. MOTION: EDA Commissioner Holmes moved and EDA Commissioner Werner seconded a motion to approve the preliminary EDA budgets for 2014. The motion carried unanimously (5-0). B. Update on Carroll's Property Executive Director Hutmacher stated that the City Council discussed the old Carroll's Furniture building and property at the October 21, 2013, work session. At that meeting, the Council expressed an interest in exploring the possibility of purchasing the property. Staff has been in contact with the local broker and has learned that the property has two full-price offers. The potential buyers are interested in reusing the existing building. She indicated that the two full-price offers are of great interest to US Bank. She discussed the proposed uses for the site. EDA Commissioner Holmes asked if the potential buyers have been made aware of the City's interest in putting in a sidewalk. Executive Director Hutmacher commented that the broker is aware of this information and that she provides this information to any potential buyers who contact the City. A visual of where the sidewalk would be located was also provided. It was noted that the City has a partial easement for a portion of the sidewalk on this property, and that the main concern is the number of parking spaces that will be lost when a sidewalk is installed. EDA President Grant stated that the bank probably would not consider a lower offer from the City given the fact that there are two full-price offers on the table. ARDEN HILLS EDA MEETING—OCTOBER 28, 2013 3 Executive Director Hutmacher stated that the bank may be willing to consider a full-price offer from the City with few contingencies. She explained that an inspection of the property could be completed. EDA Commissioner Holden was not interested in moving forward on the Carroll's property given the fact that the site already has two full-price offers. EDA President Grant and the rest of the EDA agreed with EDA Commissioner Holden. C. TIF 3 (Cottage Villas) Update Treasurer Iverson stated that the EDA work plan included a discussion on the use of the Cottage Villas TIF District fund balance for October 2013 and January 2014. The current status of the fund balance was reviewed. The projected fund balance at the end of 2013 is $250,954. It was noted that the fund balance has been increasing by about $40,000 per year. Staff recommended that the EDA defer discussion on the District until 2014. In 2014, staff will be working with Ehlers to help analyze this District and how the funds may be spent. Treasurer Iverson explained that there is no urgency to make a decision on how these funds should best be used as the District does not expire until 2019. The main restriction on the use of these funds is that they need to be spent on qualified low and moderate income housing projects. Also, it should be noted that receiving future funds depends on the current owners of Cottage Villas continuing to comply with the low and moderate income housing requirements. EDA Commissioner Holden questioned why Ehlers was being considered to complete an analysis. Treasurer Iverson commented that their analysis would provide the City with information regarding what housing projects qualified as low to moderate income. EDA Commissioner Holden recommended that the Commission defer discussion until 2014 and that the City not hire Ehlers at this time. MOTION: EDA Commissioner Holden moved and EDA Commissioner McClung seconded a motion to defer discussion on TIF 3 (Cottage Villas) until 2014 and that the City not hire Ehlers at this time. The motion carried unanimously (5-0). 5. UNFINISHED BUSINESS None. 6. EDA COMMISSIONER COMMENTS EDA Commissioner Werner questioned who would be able to attend the dedication service at Presbyterian Homes on November 5, 2013. ARDEN HILLS EDA MEETING—OCTOBER 28, 2013 4 EDA Commissioner Holmes indicated she was planning to attend the event. She questioned if she should be prepared to give a presentation. EDA President Grant recommended that staff speak with Presbyterian Homes regarding this matter. EDA Commissioner Holden commented that she had a difficult time reviewing the Bethel staff report. She recommended that the pages within the staff report, along with the attachments, be numbered in the future. EDA President Grant stated that this would be helpful for larger staff reports. 7. STAFF COMMENTS None. 8. ADJOURN MOTION: EDA Commissioner Holmes moved and EDA President Grant seconded a motion to adiourn the Economic Development Authority meeting. The motion carried unanimously (5-0). EDA President Grant adjourned the special Economic Development Authority meeting at 6:32 p.m. . a Jill Hu acher David Grant Executive Director EDA President