HomeMy WebLinkAbout2003 05-12 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
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REGULAR SESSION
MAY 12, 2003
CITY HALL COUNCIL CHAMBERS
1. CALL TO ORDER
The Brooklyn Center Economic Development Authority (EDA) met in regular session and was
called to order at 8:26 p.m. by President Myrna Kragness.
2. ROLL CALL
President Myrna Kragness, Commissioners Kathleen Carmody, Kay Lasman, Diane Niesen, and Bob
Peppe. Also present: Executive Director Michael McCauley, Assistant City Manager/Director of
Operations Curt Boganey, Director of Public Works /CityEngineer Todd Blomstrom, Planning and
Zoning Specialist Ron Warren, City Attorney Charlie LeFevere, and Deputy City Clerk Maria
Rosenbaum.
3. APPROVAL OF AGENDA AND CONSENT AGENDA
A motion by Commissioner Carmody, seconded by Commissioner Lasman to approve the agenda
and consent agenda. Motion passed unanimously.
3a. APPROVAL OF MINUTES
A motion by Commissioner Carmody, seconded by Commissioner Lasman to approve the April 28,
2003, regular session minutes. President Myrna Kragness abstained from the vote. Motion passed
unanimously.
4. COMMISSION CONSIDERATION ITEMS
4a. RESOLUTION APPROVING 2 ND AMENDED AND RESTATED
DEVELOPMENT AGREEEMNT AND ASSIGNMENT OF THE SAME
Executive Director Michael McCauley discussed that Talisman Companies had requested to extend
by one year the date by which the total market value of Brookdale must equal $75 Million for tax
purposes in the Amended and Restated Development Agreement for the redevelopment of
Brookdale. The current agreement requires that value to be reached by August 1, 2003, and be
certified for tax purposes as of January 2, 2004. Increment under the current agreement would be
available for taxes payable in 2005 through 2009.
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Under the proposed authorization of a 2 nd Amended and Restated Development Agreement,
increment would be available for taxes payable in 2006 through 2009.
Mr. McCauley informed that there would be no change in the minimum improvements required and
that Brookdale is close to the required market values.
RESOLUTION NO. 2003-04
Commissioner Lasman introduced the following resolution and moved its adoption:
RESOLUTION APPROVING 2 ND AMENDED AND RESTATED DEVELOPMENT
AGREEEMNT AND ASSIGNMENT OF THE SAME
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Niesen.
Motion passed unanimously.
5. ADJOURNMENT
A motion by Commissioner Niesen, seconded by Commissioner Carmody to adjourn the meeting at
8:29 p.m. Motion passed unanimously.
Q President 0
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