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Home My WebLink About2014 02-10 EDAPEDA MEETING City of Brooklyn Center February 10, 2014 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 1. January 13, 2014— Regular Session 4.Commission Consideration Items a. Resolution Opting Not to Waive Tort Liability for 2014 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 JANUARY 13, 2014 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 9:15 p.m. 2.ROLL CALL President Tim Willson and Commissioners Carol Kleven, Kris Lawrence-Anderson, Lin Myszkowski, and Dan Ryan. Also present were Executive Director Curt Boganey, Finance Director Nate Reinhardt, Director of Business and Development Gary Eitel, City Attorney Charlie LeFevere, and Mary Mullen, TimeSaver Off Site Secretarial, Inc. 3.APPROVAL OF AGENDA AND CONSENT AGENDA Commissioner Ryan moved and Commissioner Myszkowski seconded approval of the Agenda and Consent Agenda, and the following item was approved: 3a. APPROVAL OF MINUTES 1. December 9, 2013 — Regular Session Motion passed unanimously. 4.COMMISSION CONSIDERATION ITEMS 4a. RESOLUTION NO. 2014-01 ELECTING OFFICERS FOR THE ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF BROOKLYN CENTER Executive Director Curt Boganey introduced the item, discussed the history, and stated the purpose of the proposed resolution. Commissioner Ryan moved and Commissioner Myszkowski seconded adoption of RESOLUTION NO. 2014-Of Electing Officers for the Economic Development Authority in and for the City of Brooklyn Center 01/13/14 -1- DRAFT Motion passed unanimously. 4b. RESOLUTION NO. 2014-02 AUTHORIZING THE ACQUISITION OF PROPERTY TO FACILITATE NEIGHBORHOOD IMPROVEMENTS AND REDEVELOPMENT OPPORTUNITIES WITHIN THE BROOKLYN BOULEVARD CORRIDOR (6031 BROOKLYN BOULEVARD) Executive Director Curt Boganey introduced the item, discussed the history, and stated the purpose of the proposed resolution. Commissioner Kleven moved and Commissioner Lawrence-Anderson seconded adoption of RESOLUTION NO. 2014-02 Authorizing the Acquisition of Property to Facilitate Neighborhood Improvements and Redevelopment Opportunities within the Brooklyn Boulevard Corridor (6031 Brooklyn Boulevard). Motion passed unanimously. 5. ADJOURNMENT Commissioner Ryan moved and Commissioner Myszkowski seconded adjournment of the Economic Development Authority meeting at 9:20 p.m. Motion passed unanimously. 01/13/14 -2- DRAFT EDA Agenda Item No. 4a EDA ITEM MEMORANDUM DATE: February, 10 2014 TO: Curt Boganey, City Manager FROM: Nathan Reinhardt, Finance Director VO° SUBJECT: Statutory Tort Liability Limits Recommendation: It is recommended that the Economic Development Authority consider approval/adoption of the attached resolution adopting the no waiver option for statutory tort liability insurance. Background: Each year the EDA must choose whether to waive tort liability limit protections of Minnesota Statutes 466.04 as part of the insurance policy renewal application process. M.S. 466.04 states that the maximum liability for a city for any claim arising after January 1, 2010 is $500,000 with an aggregate maximum of $1,500,000 per incident. In past years the EDA has chosen not to waive the liability limits and-the regular premium for insurance has covered all claims. If the EDA were to waive the limits set by statute, it would be prudent to purchase additional insurance coverage to cover possible higher awards in liability claims. Premiums for such insurance would be approximately $3,500 per year. Budget Issues: The 2014 budget anticipates leaving the no waiver option in place for 2014 and has anticipated insurance premiums based on that no waiver option. Waiving the statutory limits would require that approximately $3,500 in additional premium costs be allocated for 2014 and in each succeeding year. Strategic Priorities: • Financial Stability Mission: Ensuring an attractive, clean, safe community that enhances the quality of life and preserves the public trust Commissioner introduced the following resolution and moved its adoption: EDA RESOLUTION NO. RESOLUTION OPTING NOT TO WAIVE TORT LIABILITY FOR 2014 WHEREAS, the Economic Development Authority of the City of Brooklyn Center has an option to waive its protection under the tort liability limitations contained in Minnesota Statutes 466.04; and WHEREAS, the statutory tort limit for 2014 is $ 500,000 per individual with an aggregate limit of $ 1,500,000 per incident; and WHEREAS, the Economic Development Authority of the City of Brooklyn Center has not opted to waive its rights to limited tort liability in past years and is required to make a declaration of its intention every year. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of Brooklyn Center, Minnesota, that the Authority does not waive the monetary limits on municipal tort liability established by Minnesota Statutes 466.02 for 2014. February 10, 2014 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. SECTION I: LIABILITY COVERAGE WAIVER FORM Cities obtaining liability coverage from the League of Minnesota Cities Insurance Trust must decide whether or not to waive the statutory tort liability limits to the extent of the coverage purchased. The decision to waive or not to waive the statutory limits has the following effects: If the city does not waive the statutory tort limits, an individual claimant would be able to recover no more than $500,000. on any claim to which the statutory tort limits apply. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would be limited to $1,500,000. These statutory tort limits would apply regardless of whether or not the city purchases the optional excess liability coverage. i) If the city waives the statutory tort limits and does not purchase excess liability coverage, a single claimant could potentially recover up to $1,500,000. on a single occurrence. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also be limited to $1,500,000., regardless of the number of claimants. If the city waives the statutory tort limits and purchases excess liability coverage, a single claimant could potentially recover an amount up to the limit of the coverage purchased. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also be limited to the amount of coverage purchased, regardless of the number of claimants. Claims to which the statutory municipal tort limits do not apply are not affected by this decision. This decision must be made by the city council. Cities purchasing coverage must complete and return this form to 1.1VICIT before the effective date of the coverage, For further information, contact LMCIT. You may also wish to discuss these issues with your city attorney. Brooklyn Ctr EDA/HRA accepts liability coverage limits of $ 500,000/$1,500,000 from the League of Minnesota Cities Insurance Trust (LMCIT). Check one:pg The city DOES NOT WAIVE the monetary limits on municipal tort liability established by Minnesota Statutes 466.04. Ei The city WAIVES the monetary limits on tort liability established by Minnesota Statutes 466.04, to the extent of the limits of the liability coverage obtained from LMCIT. Date of city council meeting Signature Position Return thts completed form to LMCI7; 145 University Ave W, $t. Paul, MN. 55103-2044