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HomeMy WebLinkAbout2005 06-27 EDAM Regular Session1 1 1. CALL TO ORDER 2. ROLL CALL 3a. APPROVAL OF MINUTES 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 JUNE 27, 2005 CITY HALL COUNCIL CHAMBERS The Brooklyn Center Economic Development Authority (EDA) met in Regular Session and was called to order at 10:19 p.m. by President Myrna Kragness. President Myrna Kragness and Commissioners Kathleen Carmody, Kay Lasman, Diane Niesen, and Mary O'Connor. Also present were Executive Director Michael McCauley, Assistant City Manager /Director of Operations Curt Boganey, Public Works Director /City Engineer Todd Blomstrom, Community Development Director Brad Hoffinan, City Attorney Charlie LeFevere, and Deputy City Clerk Maria Rosenbaum. 3. APPROVAL OF AGENDA AND CONSENT AGENDA There was a motion by Commissioner Lasman, seconded by Commissioner Carmody to approve the agenda and consent agenda. Motion passed unanimously. There was a motion by Commissioner Lasman, seconded by Commissioner Carmody to approve the June 13, 2005, Regular Session minutes. Motion passed unanimously. 3b. RESOLUTION APPROVING AGREEMENT BETWEEN CITY OF BROOKLYN CENTER EDA AND TETRA TECH REGARDING WORK TO BE PERFORMED PURSUANT TO HENNEPIN COUNTY ENVIRONMENTAL RESPONSE FUND GRANT AGREEMENT CONTRACT NO. A042170 RESOLUTION NO. 2005-10 Commissioner Lasman introduced the following resolution and moved its adoption: 06/27/05 -1- RESOLUTION APPROVING AGREEMENT BETWEEN CITY OF BROOKLYN CENTER EDA AND TETRA TECH REGARDING WORK TO BE PERFORMED PURSUANT TO HENNEPIN COUNTY ENVIRONMENTAL RESPONSE FUND GRANT AGREEMENT CONTRACT NO. A042170 The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Carmody. Motion passed unanimously. 4. PUBLIC HEARING ITEM 4a. PURCHASE AND DEVELOPMENT AGREEMENT WITH VOLUNTEERS OF AMERICA FOR THE SALE AND DEVELOPMENT OF LAND Executive Director Michael McCauley discussed that this had been continued while trying to see if there was a way to resurrect the deal after Hennepin County did not go forward. As indicated in the materials Springsted reviewed and what would be required in order to meet the rental unit rates with increased costs that have been estimated to construct the project, staff does not feel in a position to recommend going forward for a number of reasons. The change in the concept would force the City to be in a position of risk which the City has avoided in redevelopments and the costs of subsidy would be much higher than originally projected. It is recommended to re -open the public hearing since it was scheduled and to take no action on this proposal which will effectively let it die. A motion by Commissioner Lasman, seconded by Commissioner Niesen to re -open the Public Hearing. Motion passed unanimously. No one wished to address the Commission. A motion by Commissioner Lasman, seconded by Commissioner Niesen to close the Public Hearing. A motion by Commissioner Lasman, seconded by Commissioner Carmody to take no action. Motion passed unanimously. 5. COMMISSION CONSIDERATION ITEMS 5a. RESOLUTION DETERMINING DEFAULT BY TALISMAN BROOKDALE, LLC AND DIRECTING DELIVERY OF NOTICE OF DEFAULT AND AUTHORIZING TERMINATION OF SECONDED AMENDED AND RESTATED DEVELOPMENT AGREEMENT Mr. McCauley discussed that the Special Legislation that the City requested passed and was signed by the Governor. Staff anticipates when the City has the appropriate chapter numbers from the Revisor's Office bringing a resolution to the Council for the local approval that is required for Special Legislation. This gives the City additional time within which to incur obligation to enter into agreements in Tax Increment Financing District No. 3. 06/27/05 -2- 1 1 1 1 1 1 The City had deferred giving notice of default until it knew if the Special Legislation passed. If the Special Legislation did not pass, keeping the current agreement would potentially leave a mechanism to potentially negotiate something with respect to what happens with Brookdale if there was a new party in ownership. The City would now be in a position if something came forward with Brookdale that was appropriate for City participation with the Special Legislation to negotiate a new deal. This resolution would authorize the City to immediately terminate the agreement upon the failure to cure the defaults. RESOLUTION NO. 2005-11 Commissioner Carmody introduced the following resolution and moved its adoption: RESOLUTION DETERMINING DEFAULT BY TALISMAN BROOKDALE, LLC AND DIRECTING DELIVERY OF NOTICE OF DEFAULT AND AUTHORIZING TERMINATION OF SECONDED AMENDED AND RESTATED DEVELOPMENT AGREEMENT The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Niesen. Motion passed unanimously. 6. ADJOURNMENT A motion by Commissioner Lasman, seconded by Commissioner Niesen to adjourn the meeting at 10:25 p.m. Motion passed unanimously. 06/27/05 Presiden -3- DRAFT