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Home My WebLink About1990 05-21 EDAP Regular Session EDA AGENDA CITY OF BROOKLYN CENTER MAY 21, 1990 fo ( llowing adjournment of City Council meeting) 1. Call to Order 2. Roll Call 3. Approval of Minutes: a. March 12, 1990 - Special Session b. March 26, 1990 - Special Session 4. EDA Motion: a. Approving and Authorizing Execution of Memorandum of Understanding on Communication between the EDA and I.S.D. #286 on Tax Increment Projects 5. Adjournment i I I MINUTES OF THE PROCEEDINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF BROOKLYN l� CENTER IN THE COUNTY OF HENNEPIN AND THE STATE OF MINNESOTA SPECIAL SESSION MARCH 12, 1990 CITY HALL CALL TO ORDER The Brooklyn Center Economic Development Authority was called to order by President Dean Nyquist at 9:20 p.m. ROLL CALL President Dean Nyquist, Commissioners Celia Scott, Todd Paulson, Jerry Pedlar, and Philip Cohen. Also present were EDA Director Gerald Splinter, Director of Public Works Sy Knapp, Director of Planning and Inspection Ron Warren, City Attorney Charlie LeFevere, Personnel Coordinator Geralyn Barone, and Administrative Aide Patti Page. RESOLUTIONS The City Manager presented a Resolution Approving One (1) Brooklyn Center Economic Development Authority Grant (File No H79). RESOLUTION NO 90 -04 Commissioner Celia Scott introduced the following resolution and moved its adoption: RESOLUTION APPROVING ONE (1) BROOKLYN CENTER ECONOMIC DEVELOPMENT AUTHORITY GRANT (FILE NO. H79) The motion for the adoption of the foregoing resolution was duly econded b Commissioner Philip Cohen, and the motion passed unanimously. y y RESOLUTIONS (CONTINUED) The EDA Director recommended tabling a Resolution Approving a Modified Project Plan for Housing Development Project No. 01 and Tax Increment Financing Plan for Tax Increment Financing District No. 01 Requesting the Brooklyn Center City Council to Conduct a Public Hearing Thereon; Recommending Approval of the Plans to the March 26, 1990, EDA meeting. There was a motion by Commissioner Pedlar and seconded by Commissioner Paulson to table a Resolution Approving a Modified Project Plan for Housing Development Project No. 01 and Tax Increment Financing Plan for Tax Increment Financing District No. 01 Requesting the Brooklyn Center City Council to Conduct a Public Hearing Thereon; Recommending Approval of the Plans. The motion passed unanimously. ADJOURNMENT There was a motion by Commissioner Cohen and seconded by Commissioner Pedlar to adjourn the meeting. The motion passed unanimously. The Brooklyn Center Economic Development Authority adjourned at 9 :22 p.m. President 3/12/90 _1_ 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 SPECIAL SESSION MARCH 26, 1990 CITY HALL CALL TO ORDER The Brooklyn Center Economic Development Authority was called to order by President Dean Nyquist at 7:11 p.m. ROLL CALL President Dean Nyquist, Commissioners Celia Scott, Todd Paulson, Jerry Pedlar, and Philip Cohen. Also present were EDA Director Gerald Splinter, Director of Planning and Inspection Ron Warren, City Attorney Charlie LeFevere, and Administrative Aide Patti Page. The EDA Director recommended tabling action on the Tax Increment Financing District to the April 9, 1990, meeting. There was a motion by Commissioner Pedlar and seconded by Commissioner Paulson to table the resolution on the Tax Increment Financing District to April 9, 1990. The motion passed unanimously. ADJOURNMENT There was a motion by Commissioner Paulson and seconded by Commissioner Cohen to adjourn the meeting. The motion passed unanimously. The Brooklyn Center Economic Development Authority thorit adjourned a t .m. 7:12 Y J P President 3/26/90 _1_ CITY OF BROOKLYN CENTER council Meeting Date 5 -21 -9 0 Agenda Item Number 4 /0 — , REQUEST FOR COUNCIL CONSIDERATION ITEM DESCRIPTION: MEMORANDUM OF UNDERSTANDING BETWEEN BROOKLYN CENTER EDA AND INDEPENDENT SCHOOL DISTRICT NO. 286 RELATING TO TAX INCREMENT PROJECT COMMUNICATIONS *********************************************************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** DEPT. APPROVAL: Signature - title MANAGER'S REVIEW /RECOMMENDATION: No comments to supplement this report Comments below /attached *********************************************************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** SUMMARY EXPLANATION: (supplemental sheets attached Attached please find a copy of a memorandum of understanding which sets out the processes for • communication and reporting as negotiated to by staff of the City of Brooklyn Center and Independent School District No. 286 so as to formalize the parameters of what we believe is a communication process benefiting both the school district and Brooklyn Center. RECOMMENDATION: We recommend the City Council pass a motion authorizing the President and Secretary of the EDA to execute the memorandum of understanding. CITY 6301 SHINGLE CREEK PARKWAY OF I:BROOKLYN BROOKLYN CENTER, MINNESOTA 55430 TELEPHONE 561 -5440 C ENTER EMERGENCY- POLICE - FIRE 911 MEMORANDUM OF UNDERSTANDING BETWEEN THE ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF BROOKLYN CENTER AND INDEPENDENT SCHOOL DISTRICT NO. 286 (BROOKLYN CENTER SCHOOL DISTRICT) In connection with the amendment by the Economic Development Authority in and for the City of Brooklyn Center (EDA) of tax increment financing plan for the Brookwood tax increment district in the City of Brooklyn Center, the EDA and Independent School District No. 286 (School District) have had lengthy discussions regarding the ramifications of such amendment on excess tax levies of the School District authorized by excess levy referenda on September 25, 1984, and September 29, 1987. During these discussions the EDA has been made aware of the fiscal impact of its decisions about tax increment financing on the School District, of the need to minimize these impacts, and of the need to engage in ongoing discussions and exchange of information so that the School District can undertake sound financial planning. Accordingly, the EDA and the School District have executed this memorandum of understanding toward these ends. 1. The EDA will use its best efforts to retire outstanding bonded indebtedness for the tax increment district named above. The EDA intends to provide for payment to the School District of that part of future taxes generated within the tax increment district which represents tax from its excess levies as soon as is reasonably possible given covenants to bondholders, prudent financial planning and the development and redevelopment needs of the City of Brooklyn Center. �4xyNCr:,y, 2. The EDA will give an annual written report to the School District with respect to the amount of tax increment revenues generated from the excess levies and the amount for the retirement of debt. 3. The EDA and School District will meet annually to discuss the following issues: a. The redevelopment housing and economic activities of the EDA and its impact upon the School District; b. A confirmation that all expenditures of tax increments are listed in the tax increment plan budget; C. Reaffirm efforts of the EDA to renew payment of taxes from excess levies to the School District. The EDA and School District recognize the importance of continuing to work together closely for the benefit of the residents. Dated this day of , 1990. THE ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF BROOKLYN CENTER President Secretary INDEPENDENT SCHOOL DISTRICT NO. 286 Scho Oioard Chairperson upe intendent of Schools -2-