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Home My WebLink About2019 07-22 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 JULY 22, 2019 CITY HALL — COUNCIL CHAMBERS 1. CALL TO ORDER The Brooklyn Center Economic Development Authority (EDA) met in Regular Session called to order by President Mike Elliott at 10:15 p.m. 2. ROLL CALL President Mike Elliott and Commissioners April Graves, Kris Lawrence -Anderson, and Dan Ryan. Commissioner Marquita Butler was absent and excused. Also present were Executive Director Curt Boganey, Community Development Director Meg Beekman, City Attorney Troy Gilchrist, and Mary Mullen, TimeSaver Off Site Secretarial, Inc. 3. APPROVAL OF AGENDA AND CONSENT AGENDA Commissioner Lawrence -Anderson moved, and Commissioner Ryan seconded to approve the Agenda and Consent Agenda, and the following item was approved: 3a. APPROVAL OF MINUTES 1. July 8, 2019 — Regular Session 3b. RESOLUTION NO. 2019-15 APPROVING A TIF DEVELOPMENT AGREEMENT WITH BROOKLYN CENTER AH I, LLLP Motion passed unanimously. 4. COMMISSION CONSIDERATION ITEMS 4a. RESOLUTION NO. 2019-16 APPROVING THE PURCHASE AGREEMENT AND CONVEYANCE OF CERTAIN PROPERTY TO COALITION DEVELOPMENT, LLC Ms. Beekman reviewed a potential purchase agreement with Coalition Development for four parcels of land totaling 1.79 acres owned by the Economic Development Authority. (EDA) at Brooklyn Boulevard and 61" Avenue N, which is currently zoned RI, Cl, and PUD C2. She added the EDA's investment to date is $632,098, and bids are currently out for the demolition of 07/22/19 -1- a structure on one of the properties. The EDA's total investment amount will be adjusted when demolition bids are received. Ms. Beekman stated the developer, Coalition Development, is proposing a 113 -unit 4 -story mixed -income multi -family residential development. She added the City has a preliminary agreement with Coalition Development for this potential project. She noted City staff recommends approval of the Resolution approving the Purchase Agreement. Commissioner Graves moved, and Commissioner Ryan seconded to open the Public Hearing at 10:20 p.m. Motion passed unanimously. There were no comments. Commissioner Ryan moved, and Commissioner Graves seconded to close the Public Hearing at 10:21 p.m. Motion passed unanimously. Commissioner Ryan moved, and Commissioner Butler seconded to approve RESOLUTION NO. 2019-16 Approving the Purchase Agreement and Conveyance of Certain Property to Coalition Development, LLC. Motion passed unanimously. 4b. RESOLUTION NO. 2019-17 APPROVING AN OPTION AGREEMENT AND ACQUISITION OF CERTAIN PROPERTY LOCATED AT 6100 SHINGLE CREEK PARKWAY Ms. Beekman reviewed the potential acquisition of a 9 -acre property at 6100 Shingle Creek Parkway that is currently zoned C2 Commerce. The EDA owns approximately 35 acres nearby and is in the process of developing a Master Plan for this property. A former Target Store on this property closed in 2018 and communicated a purchase price of $4 million. Acquisition of the property ensures the site will not be used in an interim in a manner that is detrimental to the Master Plan. Ms. Beekman requested City Council consideration of an Option Agreement that would give the City the option to purchase the property for $3.6 million. An option deposit of $25,000 would be due upon signing and would be fully refundable except nominal fees. Ms. Beekman stated City Staff is in the process of determining TIF eligibility, for a potential future redevelopment district. The property would be purchased "as is," and the annual cost of maintaining the property would be approximately $25,000, and 2020 property taxes would be $150,000. 07/22/19 -2- Ms. Beekman stated TIF District #3 pooled revenue would be the source of funds for this property acquisition. She added City Staff recommends that the EDA adopt the Agreement regarding Acquisition of Certain Property at 6100 Shingle Creels Parkway. Commissioner Graves requested clarification regarding the Option Agreement and what it means. Ms. Beekman stated it is the same as a Purchase Agreement, except it will be less binding. She added the City would have exclusive rights to the property, but also the option to extend the Agreement with additional payment, or execute the Agreement, or cancel it. She noted the Agreement would need to be executed by September 15, 2019. Commissioner Ryan stated this same type of agreement was used when the City purchased the Brookdale Ford property. He added this would give the City some time to determine whether there is ground contamination, about which there has been some concern. Commissioner Ryan moved, and Commissioner Graves seconded to adopt RESOLUTION NO. 2019-17 Approving an Option Agreement and Acquisition of Certain Property Located at 6100 Shingle Creek Parkway. Motion passed unanimously. 5. ADJOURNMENT Commissioner Graves moved, and Commissioner Ryan seconded adjournment of the Economic Development Authority meeting at 10:30 p.m. Motion passed unanimously. 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 22, 2019. 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) 2019, Regular Session. City Cleric 07/22/19 -3- President at its August 12,