HomeMy WebLinkAbout2009 01-12 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
JANUARY 12, 2009
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 9:07 p.m.
2. ROLL CALL
President Tim Willson and Commissioners Kay Lasman, Tim Roche, Dan Ryan, and Mark
Yelich. Also present were Executive Director Curt Boganey, Community Development Director
Gary Eitel, Public Works Director/City Engineer Steve Lillehaug, Assistant to the City Manager
Vickie Schleuning, City Attorney Charlie LeFevere, and Carol Hamer, TimeSaver Off Site
Secretarial, Inc.
3. APPROVAL OF AGENDA AND CONSENT AGENDA
Commissioner Lasman moved and Commissioner Ryan seconded approval of the Agenda and
Consent Agenda, and the following item was approved:
3a. APPROVAL OF MINUTES
1. December 8, 2008 - Regular Session
Motion passed unanimously.
4. COMMISSION CONSIDERATION ITEMS
4a. RESOLUTION NO. 2009-01 ELECTING OFFICERS FOR THE ECONOMIC
DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF BROOKLYN
CENTER
Mr. Boganey introduced the item, discussed the history, and stated the purpose of the proposed
resolution. EDA officers included in Resolution No. 2009-01 are:
President/Treasurer Tim Willson
Vice-President Kay Lasman
Assistant Treasurer Daniel Jordet
Secretary Gary Eitel
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Commissioner Ryan moved and Commissioner Yelich seconded adoption of RESOLUTION
NO. 2009-01 Electing Officers for the Economic Development Authority in and for the City of
Brooklyn Center.
Motion passed unanimously.
4b. RESOLUTION NO. 2009-02 ESTABLISHING HOUSING PROGRAMS AND
APPROVING THE USE OF FUNDS FROM THE TAX INCREMENT DISTRICT
NO.3 HOUSING ACCOUNT
Mr. Boganey introduced the item, discussed the history, and stated the purpose of the proposed
resolution.
Mr. Eitel provided a PowerPoint presentation and answered questions of the EDA on the
Housing Initiatives Foreclosure Strategy. The presentation and discussion included the following
information: Background; Brooklyn Center Housing Statistics; Housing Program Overview;
Housing Program Objectives; Meeting Program Objectives; Summary of Resolution; and Next
Steps.
There was discussion on how the proposed housing programs relate to the Council goal of
promoting home ownership versus allowing market forces to correct foreclosures.
Mr. Jeff Anderson of Summit Mortgage answered questions of the Council on the requirements
of the ReNew Loan. It was noted that the program consists of Class A and prime loans only,
which include higher qualifying requirements than subprime loans.
There was discussion on marketing the value of the homes available for purchase in the City of
Brooklyn Center.
Commissioner Lasman moved and Commissioner Roche seconded adoption of RESOLUTION
NO. 2009-02 Establishing Housing Programs and Approving the Use of Funds from the Tax
Increment District No. 3 Housing Account.
Mr. Anderson answered questions of the EDA on debt to income ratio requirements and loan
origination fees.
Motion passed unanimously.
S, ADJOURNMENT
Commissioner Lasman moved and Commissioner Ryan seconded adjournment of the Economic
Development Authority meeting at 9:57 p.m.
Motion passed unanimously,
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I
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 January 12, 2009.
2. That said meeting was held pursuant to due call and notice thereof and was duly held at
Brooklyn Center City Hall.
1 That the Economic Development Authority (EDA) adopted said minutes at its
February 9, 2009, Regular Session.
Secretary
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President