HomeMy WebLinkAbout2002 05-13 EDAM Regular Session MINUTES OF THE PROCEEDINGS OF THE
ECONOMIC DEVELOPMENT AUTHORITY
OF THE CITY OF BROOKLYN CENTER
IN THE COUNTY OF HENNEPIN AND THE
STATE OF MINNESOTA
REGULAR SESSION
MAY 13, 2002
WEST FIRE STATION TRAINING ROOM
1. CALL TO ORDER
The Brooklyn Center Economic Development Authority (EDA) met in regular session and was
called to order at 8:07 p.m. by President Myrna Kragness.
2. ROLL CALL
President Myrna Kragness, Commissioners Kay Lasman, Ed Nelson, Bob Peppe, and Tim Ricker.
Also present: City Manager Michael McCauley, Assistant City Manager Jane Chambers, City
Attorney Charlie LeFevere, and Deputy City Clerk Maria Rosenbaum.
3. APPROVAL OF AGENDA AND CONSENT AGENDA
A motion by Commissioner Lasman, seconded by Commissioner Peppe to approve the agenda and
consent agenda. Motion passed unanimously.
3a. APPROVAL OF MINUTES
A motion by Commissioner Lasman, seconded by Commissioner Peppe to approve the March 11,
2002, and March 13, 2002, regular session minutes. Motion passed unanimously.
4. COMMISSION CONSIDERATION ITEMS
4a. RESOLUTION AUTHORIZING AND CONSENTING TO THE
ASSIGNMENT OF THE TWIN LAKES BUSINESS PARK'S INTEREST IN A
CERTAIN TAX INCREMENT NOTE TO TWIN LAKES II, LLC
Executive Director Michael McCauley discussed that this resolution would authorize and consent to
the assignment of the Twin Lakes Business Park's interest in a certain tax increment note to Twin
Lakes II, LLC pursuant to the documents.
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RESOLUTION NO. 2002-06
Commissioner Nelson introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING AND CONSENTING TO THE ASSIGNMENT OF THE TWIN
LAKES BUSINESS PARK'S INTEREST IN A CERTAIN TAX INCREMENT NOTE TO TWIN
LAKES II, LLC
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner
Lasman. Motion passed unanimously.
4b. TWIN LAKES BUSINESS PARK DEVELOPMENT AGREEMENT
AMENDMENT
Mr. McCauley discussed that this item is for discussion and would be brought back for an action
item at a later date if the Commission believes the amendment would be feasible before providing an
outline of the tax base which had been reduced with respect to this development. He informed the
Commission that this amendment would allow the tax rate to float and issue a substitute note. He
outlined the tax law changes that have resulted in significantly less tax increment revenue to
reimburse costs of redevelopment though the property has met its value targets.
Paul Hyde, Real Estate Recycling, addressed the Commission to update on phases one and two and
to discuss the issues they are facing since the September 11, 2001, attacks. Things have been
moving slow and they hope to secure tenants in the next couple months for phase three. They are
motivated and eager to get phase three on its way.
4c. RESOLUTION ACCEPTING QUOTES AND AUTHORIZING
DEMOLITION OF 5912 CAMDEN AVENUE NORTH, BROOKLYN
CENTER, MINNESOTA
Mr. McCauley iscussed that this resolution would accept quotes and authorizes demolition at 5912
Y pq
Camden Avenue North, by Veit and Company, Inc.
RESOLUTION NO. 2002-07
Commissioner Lasman introduced the following resolution and moved its adoption:
RESOLUTION ACCEPTING QUOTES AND AUTHORIZING DEMOLITION OF 5912
CAMDEN AVENUE NORTH, BROOKLYN CENTER, MINNESOTA
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Peppe.
Motion passed unanimously.
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5. ADJOURNMENT
A motion by Commissioner Lasman, seconded by Commissioner Peppe to adjourn the meeting at
8:19 p.m. Motion passed unanimously.
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