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Home My WebLink About2009 12-14 EDAP EDA MEETING City of Brooklyn Center December 14, 2009 AGENDA 1. Call to Order —The EDA requests that attendees turn off cell phones and pagers during the meeting. A copy of the full City Council packet, including EDA (Economic Development Authority), is available to the public. The packet ring binder is located at the front of the Council Chambers by the Secretary. 2. Roll Call 3. Approval of Agenda and Consent Agenda —The following items are considered to be routine by the Economic Development Authority (EDA) and will be enacted by one motion. There will be no separate discussion of these items unless a Commissioner so requests, in which event the item will be removed from the consent agenda and considered at the end of Commission Consideration Items. a. Approval of Minutes I . November 23, 2009 — Regular Session 2. November 23, 2009 — Executive Session 4. Commission Consideration Items a. Resolution Approving the Final Budget for the City of Brooklyn Center Economic Development Authority for Fiscal Year 2010 Requested Commission Action: — Motion to adopt resolution. 5. Adjournment • • EDA Agenda Item No. 3a 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 NOVEMBER 23, 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 7:28 p.m. 2. ROLL CALL President Tim Willson and Commissioners Kay Lasman, Tim Roche, Dan Ryan, and Mark Yelich. Also present were Executive Director Curt Boganey, Public Works Director /City Engineer Steve Lillehaug, Director of Business and Development Gary Eitel, Assistant City Manager/Director of Building and Community Standards Vickie Schleuning, City Attorney Charlie LeFevere, and Carol Hamer, Timesaver Off Site Secretarial, Inc. t 3. APPROVAL OF AGENDA AND CONSENT AGENDA Commissioner Yelich moved and Commissioner Lasman seconded approval of the Agenda and Consent Agenda, and the following item was approved: 3a. APPROVAL OF MINUTES 1. October 26, 2009 — Regular Session Motion passed unanimously. 4. COMMISSION CONSIDERATION ITEMS 4a. CONSIDER THE SALE OF PROPERTY LOCATED AT 57' AND LOGAN AVENUES NORTH Executive Director Curt Boganey advised that under the exceptions of the Open Meeting Law, the EDA mg elect to adjourn to closed Executive Session regarding the sale of real property located at 57` and Logan Avenues North. 5. ADJOURNMENT • 11/23/09 -1- DRAFT Commissioner Lasman moved and Commissioner Ryan seconded adjournment of the Economic . Development Authority meeting at 7:30 p.m. President Willson announced that the EDA will adjourn from Executive Session and will not reconvene following the Executive Session. Motion passed unanimously. • 11/23/09 -2- DRAFT 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 EXECUTIVE SESSION NOVEMBER 23, 2009 CITY HALL — SHINGLE CREEK CONFERENCE ROOM 1. CALL TO ORDER The Brooklyn Center Economic Development Authority (EDA) met in Executive Session called to order by President Tim Willson at 7:36 p.m. 2. ROLL CALL President Tim Willson and Commissioners Kay Lasman, Tim Roche, Dan Ryan, and Mark Yelich. Also present were Executive Director Curt Boganey, Director of Business and Development Gary Eitel, Assistant City Manager /Director of Building and Community Standards Vickie Schleuning, City Attorney Charlie LeFevere, and Carol Hamer, TimeSaver Off Site Secretarial, Inc. 3. CONSIDER THE SALE OF PROPERTY LOCATED AT 57 AND LOGAN • AVENUESNORTH The City Council, City Attorney, and staff discussed the sale of property located at 57 and Logan Avenues North. 5. ADJOURNMENT Commissioner Lasman moved and Commissioner Ryan seconded adjournment of the Economic Development Authority meeting at 8:38 p.m. Motion passed unanimously. 11/23/09 -1- DRAFT s EDA Agenda Item No. 4a • City of Brooklyn Center EDA Agenda Item Memorandum TO: Curt Boganey, Executive Director FROM: Daniel Jordet, Assistant Treasurer DATE: 8 December 2009 SUBJECT: 2010 Economic Development Authority Budget Recommendation: It is recommended that the Commissioners of the Brooklyn Center Economic Development Authority adopt the attached resolution establishing the operating budget for the 2010 fiscal year. Background: The HRA adopted a preliminary resolution for property tax levy payable in 2010 while the EDA adopted a preliminary 2010 budget on 14 September 2009. That • levy was based on the extension rate of 0.0185% of taxable market value. It produced a preliminary levy of $ 349,745. Those funds are transferred from the HRA to the EDA for operations. In addition, the EDA Fund is expected to earn about $ 15,000 of interest revenue in 2010. The total EDA revenue budget is proposed at $ 364,745. Against those revenues, the EDA expenditure budget includes two full time staff, various legal and professional services, dues to 6 organizations promoting economic development and one half of a support staff position. Total expenditures are projected to be $379,104. Financial Impact: The result of the budget is excess expenditures over revenues of $ 14,359. This amount would be obtained from the cash balance in the EDA Fund built up over prior years of excess revenues, if the budget is adopted. • Member introduced the following resolution and moved its adoption: EDA RESOLUTION NO. RESOLUTION APPROVING THE FINAL BUDGET FOR THE CITY OF BROOKLYN KLYN CENTER ECONOMIC DEVELOPMENT AUTHORITY FOR FISCAL YEAR 2010 WHEREAS, the Economic Development Authority of City of Brooklyn Center has considered the final budget for Fiscal Year 2010. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority Y of the City of Brooklyn Center, Minnesota that revenues and appropriations for the Economic Development Authority for the 2010 fiscal year are hereby adopted as follows: Economic Development Authority Revenues Other Financing Sources $ 364.745 Total Economic Development Authority $ 364.745 • Appropriations EDA Operations $ 379.104 Total Economic Development Authority $ 379.104 December 14, 2009 Date President The motion for adoption of the forgoing resolution was duly seconded by member and upon vote being taken thereon, the following voted in favor thereof: and the following voted against same: whereupon said resolution was declared duly passed and ado ted. p YP P