HomeMy WebLinkAbout2011 07-25 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 25, 2011
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 7:38 p.m.
2. ROLL CALL
President Tim Willson and Commissioners Carol Kleven, Kay Lasman, Tim Roche, and Dan
Ryan. Also present were Executive Director Curt Boganey, Director of Fiscal and Support
Services Dan Jordet, Public Works Director /City Engineer Steve Lillehaug, Director of Business
and Development Gary Eitel, City Attorney Charlie LeFevere, and Carla Wirth, Timesaver Off
Site Secretarial, Inc.
3. APPROVAL OF AGENDA AND CONSENT AGENDA
Commissioner Roche moved and Commissioner Ryan seconded approval of the Agenda and
Consent Agenda, and the following item was approved:
3a. APPROVAL OF MINUTES
1. June 27, 2011— Regular Session
Motion passed unanimously.
4. COMMISSION CONSIDERATION ITEMS
4a. RESOLUTION NO. 2011 -17 APPROVING DEVELOPMENT AGREEMENT
WITH REAL ESTATE RECYCLING, LLC (ENVIRONMENTAL TESTING
LOAN)
Director of Business and Development Gary Eitel introduced the item, discussed the history, and
stated the purpose of the proposed resolution to lend the developer, solely from TIF No. 2
available tax increment, an amount of no more than $76,353, or the sum of the cost of the
eligible costs actually incurred and paid by the developer, for environmental remedial
investigation of the development property, which is the Howe Fertilizer site. The developer will
repay $70,000 of the Loan's principal amount within 30 days of receipt of the ACCRA Grant
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from the Minnesota Department of Agriculture, but no later than December 1, 2011. The
developer will repay the remaining balance of the principal amount by July 1, 2013.
Mr. Eitel explained that to qualify as a spending plan activity under the Minnesota Jobs Bill, the
developer is required to create a minimum of two full -time equivalent jobs in connection with
the construction of the minimum improvements, which is a 51,000 to 60,000 sq. ft. industrial
building, by June 30, 2013. In the event the developer fails to commence construction by
June 30, 2012, (the extended deadline of the Minnesota Jobs Bill) the outstanding principal of
the loan shall be immediately paid in full.
Commissioner Lasman moved and Commissioner Ryan seconded adoption of EDA
RESOLUTION NO. 2011 -17 Approving Development Agreement with Real Estate Recycling,
LLC (Environmental Testing Loan).
The EDA indicated its support for this project, which involved many challenges, and thanked
staff for its diligence. The EDA also recognized the efforts of the late Senator Scheid who had
been instrumental in moving this project forward.
Mr. Boganey indicated a lot of credit goes to Real Estate Recycling, who is continuously looking
for opportunities to redevelop this type of site, are experts in finding grants, identifying what
needs to be done, and turning such sites into productive uses once again.
Motion passed unanimously.
5. ADJOURNMENT
Commissioner Roche moved and Commissioner Ryan seconded adjournment of the Economic
Development Authority meeting at 7:42 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 July 25, 2011.
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 August 8,
2011, Regular Session.
e et President
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