HomeMy WebLinkAbout2009 07-27 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
JULY 27, 2009
CITY HALL COUNCIL CHAMBERS
1. CALL TO ORDER
The Brooklyn Center Economic Development Authority (EDA) met in Regular Session called to
order by President Tim Willson at 7:37 p.m.
2. ROLL CALL
President Tim Willson and Commissioners Kay Lasman, Dan Ryan, and Mark Yelich.
Commissioner Tim Roche was absent and excused. Also present were Executive Director Curt
Boganey, Director of Business Development Gary Eitel, Police Chief Scott Bechthold, City
Attorney Charlie LeFevere, and Carla Wirth, TimeSaver Off Site Secretarial, Inc.
3. APPROVAL OF AGENDA AND CONSENT AGENDA
Commissioner Lasman moved and Commissioner Yelich seconded approval of the Agenda and
Consent Agenda, and the following item was approved:
3a. APPROVAL OF MINUTES
1. July 13, 2009 Regular Session
Motion passed unanimously.
4. COMMISSION CONSIDERATION ITEMS
4a. RESOLUTION NO. 2009-13 AUTHORIZING THE STIPULATION OF
SETTLEMENT IN CONNECTION WITH THE REAL PROPERTY LOCATED
AT 6742 REGENT AVENUE NORTH, BROOKLYN CENTER, MINNESOTA
Director of Business Development Eitel introduced the item, discussed the history, and stated
the purpose of the proposed resolution.
Commissioner Yelich asked about the error in filing the mortgages. Mr. Eitel described that
several errors had occurred in the filing of the mortgage.
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Commissioner Ryan noted the EDA could choose to hold the bank to satisfy the entire $20,000
but the EDA is offering to accept one-half that amount to settle it. Mr. Eitel stated their attorney
proposed the one-half amount. Staff had originally asked for 100% with the loan forgiven if sold
as owner-occu ied.
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Commissioner Yelich noted the agreement stipulates if purchaser is owner-occupied, the loan is
forgiven. He asked what is the duration for owner-occupied status. Mr. Eitel stated it is satisfied
at the time of closing. Commissioner Yelich stated in that case, the purchaser could convert to
non-owner-occupied property within several months. Mr. Eitel explained if the mortgage is
through the FHA Renew Loan Program so they could not use this mortgage if converted to
rental.
Commissioner Yelich stated he would like to ensure that owner-occupied housing is retained in
Brooklyn Center. Mr. Eitel advised this is a nice property so if purchased as owner-occupied, he
believed there was a good opportunity it would remain in that manner.
Commissioner Lasman moved and Commissioner Ryan seconded adoption of EDA
RESOLUTION NO. 2009-13 Authorizing the Stipulation of Settlement in Connection with the
Real Property located at 6742 Regent Avenue North, Brooklyn Center, Minnesota.
Motion passed unanimously.
5. ADJOURNMENT
Commissioner Lasman moved and Commissioner Ryan seconded adjournment of the Economic
Development Authority meeting at 7:49 p.m.
Motion passed unanimously.
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STATE OF MINNESOTA)
COUNTY OF HENNEPIN) ss. Certification of Minutes
CITY OF BROOKLYN CENTER)
The undersigned, being the duly qualified and appointed Secretary of the Economic
Development Autharity (EDA) of the City of Brooklyn Center, Minnesota, certifies:
L That attached hereto is a full, true, and complete transcript of the minutes of a Regular
Session of the Economic Development Authority (EDA) of the City of Brooklyn Center
held on July 27, 2009.
2. That said meeting was held pursuant to due call and notice thereaf and was duly held at
Brooklyn Center City HaIL
3. That the Economic Development Authority (EDA) adopted said minutes at its August 24,
2009, Regular Session.
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J �retary President
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