HomeMy WebLinkAbout2010 02-08 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
FEBRUARY 8, 2010
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 8:26 p.m.
2. ROLL CALL
President Tim Willson and Commissioners Tim Roche, Dan Ryan, and Mark Yelich.
Commissioner Kay Lasman was absent and excused. Also present were Executive Director Curt
Boganey, Director of Business and Development Gary Eitel, Community Development
Specialist Tom Bublitz, Assistant City Manager /Director of Building and Community Standards
Vickie Schleuning, City Attorney Charlie LeFevere, and Carol Hamer, Timesaver Off Site
Secretarial, Inc.
3. APPROVAL OF AGENDA AND CONSENT AGENDA
Commissioner Ryan moved and Commissioner Yelich seconded approval of the Agenda and
Consent Agenda, and the following item was approved:
3a. APPROVAL OF MINUTES
1. January 11, 2010 — Regular Session
Motion passed unanimously.
4. COMMISSION CONSIDERATION ITEMS
4a. EDA RESOLUTION NO. 2009 -02 AGREEING TO UNDERTAKE THE DUTIES
OF THE CITY UNDER THE NATIONAL STABILIZATION PROGRAM AND
AUTHORIZING THE EDA STAFF TO ACQUIRE CERTAIN FORECLOSED
HOMES WITHIN THE CITY AND TO EXECUTE ALL INSTRUMENTS AND
CONTRACTS RELATED THERETO
Director of Business and Development Gary Eitel and Community Development Specialist Tom
Bublitz provided a PowerPoint presentation on the National Stabilization Program (NSP) and the
process under the NSP for the purchase /rehab of foreclosed /vacant property. The presentation
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also included an overview of the following agreements the EDA is requested to authorize: 1)
NSP 1 Developer Agreement with Greater Metropolitan Housing Corporation (GMHC); 2) First
Look Program Acquisition Agreement (NSP 1); 3) Access and Indemnification Agreement with
Twin Cities Community Land Bank (TCCLB).
It was noted that participation in NSP 1 will provide an opportunity to put money into homes in
the City that otherwise would not be economically feasible to do.
Discussion ensued on the NSP 1 income groups: 1) households earning at or below 120% of
Area Median Income (AMI); 2) households at 50% AMI. NSP 1 requires that at least 25% of
NSP 1 funds must be expended on the 50% AMI group. It was noted that the study session
included a discussion on criteria for individuals to qualify for mortgages with this program. Mr.
Bublitz stated that the criteria for buyers will be similar to those included in the City's Renew
Loan Program.
There was discussion on the option included in the NSP 1 Developer Agreement of using the
West Hennepin Area Land Trust (WHALT) to meet the 50% AMI requirement. Ms. Carolyn
Olson, President of GMHC, provided information on GMHC's experience working with
WHALT. She stated the experience has been that these houses are in good repair because
WHALT is responsible for the land in the long term. She reported that GHMC goes "green"
with all of the houses they work with.
Commissioner Roche moved and Commissioner Ryan seconded adoption of EDA
RESOLUTION NO. 2010 -02 Agreeing to Undertake the Duties of the City Under the National
Stabilization Program and Authorizing the EDA Staff to Acquire Certain Foreclosed Homes
within the City and to Execute All Instruments and Contracts Related Thereto.
Commissioner Yelich stated that while he supports this agreement because of the goal to
improve homes in the City, he has concern with these types of HUD programs redlining their
City. He stated his support of the limited scope of the program. Commissioner Ryan noted that
the Study Session addressed this issue, noting that the 50% AMI requirement is limited to two of
the eight properties.
Motion passed unanimously.
5. ADJOURNMENT
Commissioner Roche moved and Commissioner Ryan seconded adjournment of the Economic
Development Authority meeting at 9:08 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 Authority (EDA) of the City of Brooklyn Center, Minnesota, certifies:
1. 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 February 8, 2010.
2. That said meeting was held pursuant to due call and notice thereof and was duly held at
Brooklyn Center City Hall.
3. That the Economic Development Authority (EDA) adopted said minutes at its February
22 2010, Regular Session.
C r tary l President
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