HomeMy WebLinkAbout2006 09-11 EDAM Regular Session1
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1. CALL TO ORDER
2. ROLL CALL
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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
SEPTEMBER 11, 2006
CITY HALL COUNCIL CHAMBERS
The Brooklyn Center Economic Development Authority (EDA) met in Regular Session and was
called to order at 8:45 p.m. by President Myrna Kragness.
President Myrna Kragness, Commissioners Kathleen Carmody, Kay Lasman, Diane Niesen, and
Mary O'Connor. Also present: Executive Director Curt Boganey, City Attorney Charlie
LeFevere, and Deputy City Clerk Camille Worley.
3. APPROVAL OF AGENDA AND CONSENT AGENDA
Commissioner Lasman moved and Commissioner Carmody seconded to approve the agenda and
consent agenda, and the following item was approved as amended:
3a. APPROVAL OF MINUTES
1. August 14, 2006 Regular Session
Motion passed unanimously.
4. COMMISSION CONSIDERATION ITEMS
4a. RESOLUTION NO. 2006 -11 AUTHORIZING THE ACQUISITION OF REAL
PROPERTY FOR REDEVELOPMENT WITHIN TAX INCREMENT DISTRICT
NO. 3 (OLIVE GARDEN)
Executive Director Curt Boganey stated staff was instructed to negotiate the acquisition of the
Olive Garden site. He stated negotiations were completed last week and the purchase price is
identified as $1,028,295, which is close to the amount on the tax rolls and the same amount per
square foot as paid for the Cracker Barrel property.
Commissioner Niesen inquired about an appraisal on the property and if the City Council will
have the opportunity to review the purchase agreement before it agrees to purchase the property.
She indicated that she was under the impression that when she voted, she was voting to authorize
discussion on the purchase of the property.
Mr. Boganey addressed the inquiry of an appraisal and stated the City has, in the past, had an
appraisal done. He stated it is not uncommon to get an appraisal, however in this case because it
is a restaurant, there is a lot of comparable information on the value of the property available. He
stated staff feels that an appraisal would not add value of significance specifically because the
building will be removed and the land will be marketed.
Commissioner Niesen discussed the possibility of acquiring the property for a lower purchase
price due to possible problems on the property found on an appraisal. She stated concern that the
City is over paying for the property. She inquired about the Purchase Agreement.
Mr. Boganey stated due to the late negotiations and the final draft not being complete, the
purchase agreement was not included in the packet. He stated the City Attorney has reviewed
and found the Purchase Agreement to be acceptable.
City Attorney Charlie LeFevere stated an appraisal would cost approximately $4,000.
The City Council and Staff discussed possible interests in the property, potential projects and
effects on property tax revenue. They also discussed land banking by Cities and other Cities
experiences in such situations.
Commissioner Carmody moved and Commissioner Lasman seconded to adopt RESOLUTION
NO. 2006 -11 Authorizing the Acquisition of Real Property for Redevelopment within Tax
Increment District No. 3 (Olive Garden).
Commissioner O'Connor and Commissioner Niesen voted against the same. Motion passed.
5. ADJOURNMENT
Commissioner Carmody moved and Commissioner Lasman seconded adjournment of the
meeting at 9:00 p.m.
Motion passed unanimously.
/A Presi ent
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