HomeMy WebLinkAbout2017 10-09 EDAM Regular SessionMINUTES 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
OCTOBER 9, 2017
CITY HALL - COUNCIL CHAMBERS
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The Brooklyn Center Economic Development Authority (EDA) met in Regular Session called to
order by President Tim Willson at 7:16 p.m.
President Tim Willson and Commissioners Marquita Butler, April Graves, Kris Lawrence-
Anderson, and Dan Ryan. Also present were Executive Director Curt Boganey, Deputy City
Manager Reggie Edwards, Acting City Engineer Mike Albers, Deputy Director of Building and
Community Standards Jesse Anderson, City Attorney Troy Gilchrist, and Carla Wirth,
TimeSaver Off Site Secretarial, Inc.
3.APPROVAL OF AGENDA AND CONSENT AGENDA
Commissioner Ryan moved and Commissioner Butler seconded to approve the Agenda and
Consent Agenda, and the following item was approved:
3a. APPROVAL OF MINUTES
1. September 11, 2017— Regular Session
Motion passed unanimously.
4.COMMISSION CONSIDERATION ITEMS
4a. RESOLUTION NO. 2017-16 APPROVING LOAN PROGRAM
ADMINISTRATION SERVICES
Deputy Director of Building and Community Standards Jesse Anderson introduced the item,
discussed the history, and stated the purpose of the proposed resolution to approve a loan
origination agreement with the Center for Energy and Environment and Loan Servicing
Agreement with Community Reinvestment Fund. He explained the City's Lot Interest Fix Up
Fund Program has been administered by the Greater Metropolitan Housing Corporation since it
began in 2011. However, the City has been notified that Greater Metropolitan Housing
Corporation (GMHC) is closing its Housing Resource Center and will no longer be able to
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administer the Program. He explained that staff has worked with Center for Energy and
Environment (CEE) to continue the Program and the cities of Crystal and Richfield are also
intending to transfer their Fix Up Fund Program from GMHC to CEE. Mr. Anderson described
the purpose of the Low Interest Fix Up Fund Program to buy down interest rates with Tax
Increment Financing (TIF) 3 Housing Funds, allowing homeowners to borrow up to $50,000 for
home improvement at 3%. He reviewed the Program activity since 2012 and stated the City has
allotted $25,000 annually to the Program and the Community Revitalization Fund provides a
match of the funds the City contributes.
Mr. Anderson described the Renew Loan Program that provided down payment assistance for
the purchase of vacant foreclosed properties to be owner occupied. This Program no longer
issues new forgivable loans; however, remaining loans continue to require administration of
these loans. Now that GMHC is closing the Housing Resource Center, the City would enter into
an agreement directly with the Community Reinvestment Fund (CRF) for administration of the
remaining Renew Loans. TIF 3 funds are used for this program and staff anticipates 2022 as the
last year that TIF 3 housing expenditures would occur.
Commissioner Graves moved and Commissioner Ryan seconded to adopt RESOLUTION NO.
2017-16 Approving Loan Program Administration Services.
Motion passed unanimously.
5. ADJOURNMENT
Commissioner Ryan moved and Commissioner Graves seconded adjournment of the Economic
Development Authority meeting at 7:19 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:
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 October 9, 2017.
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 October
23, 2017, Regular Session.
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