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Home My WebLink About2003 01-13 EDAP EDA MEETING i City of Brooklyn Center January 13, 2003 AGENDA 1. Call to Order 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 - Commissioners not present at meetings will be recorded as abstaining from the vote on the minutes. 1. December 9, 2002 - Regular Session 4. Commission Consideration Items • a. Resolution Electing Officers for the Economic Development Authority In and For the City of Brooklyn Center - Requested Commission Action: - Motion to adopt resolution. b. Proposed Special Legislation Regarding Tax Increment Financing District No. 3 and Smart Growth Opportunity Site - Requested Commission Action: -None, discussion only. 5. Adjournment • I • 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 DECEMBER 9, 2002 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 7:04 p.m. by President Myrna Kragness. 2. ROLL CALL President Myrna Kragness, Commissioners Kay Lasman, Ed Nelson, Bob Peppe, and Tim Ricker. Also present: Executive Director Manager Michael McCauley, Interim Assistant City Manager/Director of Public Works Sharon Klumpp, City Attorney Charlie LeFevere, and Deputy City Clerk Maria Rosenbaum. • 3. APPROVAL OF AGENDA AND CONSENT AGENDA A motion by Commissioner Lasman, seconded by Commissioner Nelson to approve the agenda and consent agenda. Motion passed unanimously. i 3a. APPROVAL OF MINUTES A motion by Commissioner Lasman, seconded by Commissioner Nelson to approve the October 28, 2002, regular session minutes. Motion passed unanimously. 4. COMMISSION CONSIDERATION ITEMS 4a. RESOLUTION APPROVING THE FINAL BUDGET FOR THE CITY OF BROOKLYN CENTER ECONOMIC DEVELOPMENT AUTHORITY Executive Director Michael McCauley discussed that this resolution would adopt the final budget for 2003. RESOLUTION NO. 2002 -13 Commissioner Lasman introduced the following resolution and moved its adoption: 12/09/02 -1- DRAFT RESOLUTION APPROVING THE FINAL BUDGET FOR THE CITY OF BROOKLYN CENTER ECONOMIC DEVELOPMENT AUTHORITY The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Nelson. Motion passed unanimously. 5. ADJOURNMENT A motion by Commissioner Lasman, seconded by Commissioner Peppe to adjourn the meeting at 7:07 p.m. Motion passed unanimously. President i • 12/09/02 -2- DRAFT • EDA Agenda Item No. 4a Commissioner introduced the following resolution and moved its adoption: EDA RESOLUTION NO. RESOLUTION ELECTING OFFICERS FOR THE ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF BROOKLYN CENTER WHEREAS, Minnesota Statutes Section 469.096 provides that an economic development authority shall elect a president, treasurer, and secretary on an annual basis. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority in and for the City Council of the City of Brooklyn Center, Minnesota, that the Authority hereby elects the following officers to serve through December 31, 2003, or such later date as their successors are elected and qualified: President /Treasurer: Myrna Kragness Vice - President: Kay Lasman Assistant Treasurer: Douglas Sell Secretary: G. Brad Hoffman • Date President The motion for the adoption of the foregoing resolution was duly seconded by commissioner and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: whereupon said resolution was declared duly passed and adopted. • • EDA Agenda Item No. 4b 2200 FIRST NATIONAL BANK BUILDING 332 MINNESOTA STREET SAINT PAUL, MINNESOTA 55101 TELEPHONE (651) 223 -6600 BRIGGS AND M O R GAN FACSIMILE (651) 223 -6450 IR ROFESSIONAL ASSOCIATION WRITER'S DIRECT DIAL (651) 223 -6484 WRITER'S E -MAIL jgrain @briggs.com January 6, 2003 City of Brooklyn Center, Minnesota Attn: Brad Hoffman City Community Development Director Brooklyn Center City Hall 6301 Shingle Creek Parkway Brooklyn Center, MN 55430 Re: Effect of Special Legislation Dear Brad: I am writing to give an explanation of the effect of amendments we have drafted to the • special legislation for TIF District No. 3. The current legislation allowed the City to spend 15 percent of the tax increment revenues from TIF District No. 3 on rental or owner occupied housing activities located anywhere in the City if they met the income requirements of sections 273.1399 and 469.1761. We have added an amendment that provides that rental and owner occupied housing activities need not meet the income requirements of section 469.1761 (273.1399 has been repealed) if they are located in the Opportunity Site. In addition, the amendments provide that the City is treated as having met the redevelopment district requirements of section 469.176 subd. 4j for expenditures of tax increment revenues from TIF District No. 3 in the Opportunity Site. All other expenditures for redevelopment activities must comply with section 469.176 subd. 4j. Finally, the amendments provide that the City is not subject to the pooling requirement of section 469.1763 subd. 2(a) that no more than 25% of the tax increment revenues from TIF District No. 3 may be outside the district except for debt service on credit enhanced bonds. If you have any questions or if this explanation is inconsistent with your understanding of the purpose of the legislation, please call me or Mary Dyrseth at 651- 223 -6625. Very truly yours, /Si ,fenny Crain • Jenny Grain 1485687v1 MINNEAPOLIS OFFICE • IDS CENTER • WWW.BRIGGS.COM MEMBER - LEX MUNDI, A GLOBAL ASSOCIATION OF INDEPENDENT LAW FIRMS • A bill for an act relating to the city of Brooklyn Center, amending 1994 Minnesota Laws, Chapter 587, Article 9, Section 14 to authorize the expenditure of tax increments from tax increment financing district No. 3 in the city for housing within the designated area. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: BROOKLYN CENTER; REDEVELOPMENT DISTRICT. Subdivision 1. [ESTABLISHMENT.] The city of Brooklyn Center may establish a redevelopment tax increment financing district in which 15 percent of the revenues generated from tax increment in any year is deposited in the housing development account of the authority and expended according to the tax increment financing plan. Subd. 2. [ELIGIBLE ACTIVITIES.] U The authority must identify in the plan the housing activities that will be assisted by the housing development account. Housing activities may include rehabilitation, acquisition, construction, demolition, and financing of new or existing single family or multifamily housing. Housing activities listed in the plan need not be located within the district or project area but must be activities that meet the requirements of a housing district under Minnesota Statutes, section 2 73.1 399 o 469.1761 s,=bdivisie 2 . provided that housnna activities within the following described area (the "Met Council Brooklyn Center Op portunity Site ") are exemn_ t fro_ m the reauirements of Minnesota Statutes, section 469. 1761: • All that propertv that is located within the area bounded by a continuous line beiainnin2 at a point at the intersection of county road No. 10 and trunk highway No. 100 and going westerly along the center line of county road No. 10 to its intersection with Shingle Creek Parkway, thence northerly along the center line of Shingle Creek Parkway to its intersection with Interstate 94: thence easterly from that point along the center line of Interstate 94, thence southerly the center line of trunk highway No. 100 to the point of the be2innine. (b) The authority shall expend the remaining 85 percent of the tax increment revenues in accordance with sections 469.174 to 469.1799: provided that expenditures made in the Met Council Brooklyn Center Op_ p ortunity Site shall bP deemed to have satisfied the requirements of section 469.176, subdivision 4i. Subd. 3. [HOUSING ACCOUNT.] Tax increment to be expended for housing activities under this section must be segregated by the authority into a special account on its official books and records. The account may also receive funds from other public and private sources. Subd. 4. [ EXEMPTION.] The dos t+iet est ablished under- this section -is—e�ie pt f em thee fMi rese St t _+ -273 ' inn Tax increments derived from the redevelopment tax increment financing_ district are exempt from the requirements of Minnesota Statutes, section 469.1763, subdivision 2(a). • Subd. 5. [LOCAL APPROVAL.] This section is effective upon approval by the governing body of the city of Brooklyn Center under Minnesota Statutes, section 645.021, subdivision 2. 1478282v2