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HomeMy WebLinkAboutEDA MIN 08-20-03ECONOMIC DEVELOPMENT AUTHORITY (EDA) REGULAR MEETING MINUTES AUGUST 20, 2003 CALL TO ORDER/ROLL CALL Vice President, Jindra called the meeting to order at 9:12 p.m. and then turned the meeting over to Tammera Ericson, Treasurer. Present: Patricia Jindra, Julienne Wyckoff, Bobby Williams and Bruce Nawrocki, Tammera Ericson, and Bruce Kelzenberg Absent: Don Murzyn Jr. PLEDGE OF ALLEGIANCE CONSENT AGENDA Approval of Minutes Financial Report and Payment of Bills MOTION by Nawrocki, second by Williams, to adopt the consent agenda items as listed. All ayes. Motion Carried. ITEMS FOR CONSIDERATION Adopt Resolution 2003-12 & 2003-13~ Budget and Levy for 2004 Streetar stated staff has prepared the 2004 Budget and Levy documents for board adoption. The 2004 Community Development Budget Resolution 2003-12 is $222,648for the Budget and an additional $84,965 for the Levy. Resolution 2003-13 is approving and levying a total of $137,683 in funding. The budget and levy resolutions are based on two priorities that City Council has expressed to staff; 1) Redevelopment of Central Avenue and 2) Industrial Park Redevelopment project. In order to achieve these goals these funding sources are very important. The 2004 Levy combined is $30,000 less than last year. Streetar asked the boardmembers three questions: 1) do you like the direction staff is going; 2) would they approve the Budget; and 3) would they approve the Levy. Williams, Ericson, Wyckoff, Kelzenberg, and dindra all agreed that staff was going to the right direction with redevelopment of the City and felt comfortable approving the budget and levy for 2004. Wyckoff asked if there is a way the City can tax residents for redevelopment. Streetar stated he wasn't aware of this but, would check with Bubul. Nawrocki questioned why the EDA was approving an HRA levy and is the $137,683 the maximum amount the City can Levy. Streetar stated Steve Bubul has verified the EDA can Levy for the HRA, that the HRA could not levy anything as the funds would have to be used on repairs or housing, which are covered in the rents received at Parkview Villa and that this is the maximum amount the City can levy. MOTION by Williams, second by Wyckoff, to waive the reading of Resolution 2003-12, there being an ample amount of copies available to the public. All ayes. Motion Carried. MOTION by Wyckoff, second by Kelzenberg, to Adopt Resolution 2003-12, a Resolution of the Columbia Heights EDA Adopting the 2004 Budget of $222, 648 and a Levy of $84965 and recommending this budget and levy to the City Council for approval. Upon Vote: dindra- Aye, Kelzenberg- Aye, Williams- Aye, Wyckoff- Aye, Ericson- Aye, Nawrocla'- Nay. Motion Carried. Economic Development Authority Meeting Minutes August 20, 2003 Page 2 of 2 MOTION by Ericson, second by Williams, to waive the reading of Resolution 2003-13, there being an ample amount of copies available to the public. All ayes. Motion Carried. MOTION by Ericson, second by Williams, to Adopt Resolution 2003-13, a Resolution of the Columbia Heights EDA Approving and levying $137,683, subject to approval by the City Council. Upon Vote: Jindra- Aye, Kelzenberg- Aye, Williams- Aye, Wyckoff- Aye, Ericson- Aye, Nawrocki- Nay. Motion Carried. ADMINISTRATIVE REPORTS 40th & University Avenue Schumacher passed out a Preliminary Development Proforma and stated Paul Reinke of the Haugland Company met with staff to negotiate the development proforma. The proposed "Heights Shops" will have project rents approximately $14.50/net rentable square feet, based building costs of $80/square foot and a tenant improvement allowance of $15.00/square foot. The land cost is estimated at $50,000 less the demolition cost. The Preliminary Development Proforma contains $58,500 in land costs; $779,500 in building costs; $207,700 in development costs; $24,200 in contingency costs;for an estimated total development cost of $1,069,900. If the EDA supports these parameters, Haugland Company will pursue Pre-Lease Agreements before entering into a final development. The owner of 322 40th Avenue (MGS) has agreed to have the Anoka County Assessor evaluate his property in order to obtain a more viable market value. Nawrocki asked what the appraisal amount was and would the City sell the property for the same amount invested in it. Schumacher stated the five properties were appraised in excess of $1.5 million, the City would sell the properties for less than the Estimated Market Value as this project was totally funded with CDBG dollars. Ericson requested staff review the proforma. Klnart Redevelopment Streetar passed out the Project Summary books prepared by DSU and Ehlers for review. He invited Boardmembers to attend a joint worksession in the City Council Chambers on September 4th at 7 p.m. for the City Council, EDA, Planning Commission and Kmart Advisory Group regarding the redevelopment site. Streetar requested boardmembers read over the rest of the Administrative Report included in the packet and contact staff with any questions or concerns. ADJOURNMENT Meeting was adjourned at 10:10 p.m. Respectfully submitted, Community Development Secretary H:~EDAminutes2003\8-20-2003 I,LI Z ~J II II