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HomeMy WebLinkAbout01-04-2021 EDA MinutesECONOMIC DEVELOPMENT AUTHORITY (EDA) MINUTES OF THE MEETING OF JANUARY 4, 2021 The meeting was called to order at 6:00 pm by Chair Szurek. Members Present:Novitsky,Buesgens (Zoom),Murzyn,Herringer,Jacobs,Simula (Zoom),and Szurek. Staff Present:Aaron Chirpich (Community Development Director),Mitch Forney (Community Development Coordinator), Kelli Bourgeois (City Manager), and Shelley Hanson (Secretary). PLEDGE OF ALLEGIANCE-RECITED ELECTION OF OFFICERS- Chirpich asked for nominations for the officer positions. Herringer nominated Szurek for President of the Economic Development Authority.There were no other nominations. A Roll Call vote was taken of all members. Ayes-All ayes Herringer nominated Buesgens for Vice President of the Economic Development Authority. There were no other nominations. A Roll Call vote was taken of all members. Ayes-All ayes. Novitsky nominated Herringer for Treasurer of the Economic Development Authority. There were no other nominations. A Roll Call vote was taken of all members. Ayes-All ayes. It was noted that the Administrative Assistant to Community Development will serve as the Secretary of the Economic Development authority. 2021 Officers are as follows: Szurek is President Buesgens is Vice President Herringer is Treasurer Chirpich also noted that the EDA Bylaws state the City Manager serves as the Executive Director, The Community Development Director serves as the Deputy Director, and the Finance Director serves as the Assistant Treasurer of the Economic Development Authority. CONSENT AGENDA 1.Approve the minutes from the special meeting of December 21, 2020. 2. Approve Financial Report and Payment of Bills for November 2020-Resolution 2021-01 There were no questions. EDA Minutes Page 2 January 4, 2021 Motion by Novitsky,seconded by Murzyn, to approve the consent agenda as presented.A Roll Call vote was taken of all members.All ayes. MOTION PASSED. RESOLUTION NO.2021-01 A RESOLUTION OF THE ECONOMIC DEVELOPMENT AUTHORITY OF COLUMBIA HEIGHTS, MINNESOTA, APPROVING THE FINANCIAL STATEMENTS FOR THE MONTH OF NOVEMBER, 2020, AND THE PAYMENT OF THE BILLS FOR THE MONTH OF NOVEMBER 2020. WHEREAS,the Columbia Heights Economic Development Authority (the “EDA”) is required by Minnesota Statutes Section 469.096, Subd. 9, to prepare a detailed financial statement which shows all receipts and disbursements, their nature, the money on hand, the purposes to which the money on hand is to be applied, the EDA's credits and assets and its outstanding liabilities; and WHEREAS,said Statute also requires the EDA to examine the statement and treasurer's vouchers or bills and if correct, to approve them by resolution and enter the resolution in its records; and WHEREAS,the financial statement for the month of November.2020 has been reviewed by the EDA Commission; and WHEREAS,the EDA has examined the financial statements and finds them to be acceptable as to both form and accuracy; and WHEREAS,the EDA Commission has other means to verify the intent of Section 469.096, Subd. 9, including but not limited to Comprehensive Annual Financial Reports, Annual City approved Budgets, Audits and similar documentation; and WHEREAS,financials statements are held by the City’s Finance Department in a method outlined by the State of Minnesota’s Records Retention Schedule, NOW,THEREFORE BE IT RESOLVED by the Board of Commissioners of the Columbia Heights Economic Development Authority that it has examined the referenced financial statements including the check history, and they are found to be correct, as to form and content; and BE IT FURTHER RESOLVED the financial statements are acknowledged and received and the check history as presented in writing is approved for payment out of proper funds; and BE IT FURTHER RESOLVED this resolution is made a part of the permanent records of the Columbia Heights Economic Development Authority. EDA Minutes Page 3 January 4, 2021 ORDER OF ECONOMIC DEVELOPMENT AUTHORITY Passed this 4th day of January, 2021 Offered by:Novitsky Seconded by:Murzyn Roll Call:All ayes President Attest: Recording Secretary BUSINESS ITEMS 1.Designation of Official Depositories for the EDA –Resolution 2021-02 Chirpich stated that the EDA is required to designate by resolution the depositories used for its funds and investments. The attached resolution follows the general format of resolutions passed in previous years by the EDA and City. Most general banking transactions of the EDA and City are conducted through Northeast Bank. Accounts are also maintained at Wells Fargo Bank of Minnesota, N.A. and U.S. Bank for certain specialized services such as payroll and debt service payments. The only material difference between this proposed resolution and the resolution adopted annually by the City Council is that the EDA resolution allows for the EDA’s funds to be held in accounts under name of the City. This has always been the EDA’s practice. Since the creation of the EDA in 1996, it has never had a separate checking account under its own name. All EDA expenditures since its inception have been made using checks drawn in the City’s name on behalf of the EDA. Under this resolution, investment firms used for the pooled investments of the EDA and City must have an office in the State of Minnesota, and all investments must comply with authorized investments as set forth in Minnesota statutes. Staff recommends maintaining these three banking relationships, as they meet the EDA’s current needs, and provide capacity for addressing the EDA’s evolving needs for electronic banking services. Questions/comments from members: There weren’t any questions. EDA Minutes Page 4 January 4, 2021 Motion by Novitsky, seconded by Murzyn, to waive the reading of Resolution 2021-02, there being ample copies available to the public.Roll Call vote was taken.All ayes. MOTION PASSED. Motion by Jacobs, seconded by Novitsky, to adopt Resolution 2021-02, a resolution designating official depositories for the Columbia Heights Economic Development Authority.Roll Call vote was taken.All ayes. MOTION PASSED. RESOLUTION NO. 2021-02 A RESOLUTION OF THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, DESIGNATING OFFICIAL DEPOSITORIES. Now, therefore, in accordance with the bylaws and regulations of the Columbia Heights Economic Development Authority (the Authority), the Board of Commissioners of the Authority makes the following: ORDER OF BOARD IT IS HEREBY RESOLVED,that Northeast Bank, Wells Fargo Bank of Minnesota, N.A., and U.S. Bank are hereby designated as depositories for the Authority’s funds. IT IS FURTHER RESOLVED,that the funds of the Authority can be held in accounts at these depositories under the name and federal identification number of the City of Columbia Heights, Minnesota (the City), together with the funds of the City, provided that separate fund accounting records are maintained for the respective Authority and City shares of such accounts in a manner consistent with generally accepted accounting and auditing standards. IT IS FURTHER RESOLVED,that the responsibility for countersigning orders and checks drawn against funds of the Authority, assigned in the Authority’s bylaws to the Authority President, is hereby delegated to the City Mayor. IT IS FURTHER RESOLVED,that checks, drafts, or other withdrawal orders issued against the funds of the Authority on deposit with these depositories under the City’s name shall be signed by the following: City Mayor City Manager City Finance Director and that said banks are hereby fully authorized to pay and charge said accounts for any such checks, drafts, or other withdrawal orders issued by the City on behalf of the Authority. IT IS FURTHER RESOLVED,that Northeast Bank, Wells Fargo Bank of Minnesota, N.A., and U.S. Bank are hereby requested, authorized and directed to honor checks, drafts or other orders for the payment of money drawn in the City’s name on behalf of the Authority, including those drawn to the individual order of any person or persons whose name or names appear thereon as signer or signers thereof, when bearing or purporting to bear the facsimile signatures of the following: EDA Minutes Page 5 January 4, 2021 City Mayor City Manager City Finance Director and that Northeast Bank, Wells Fargo Bank of Minnesota, N.A., and U.S. Bank shall be entitled to honor and to charge the Authority, or the City on behalf of the Authority,for all such checks, drafts or other orders, regardless of by whom or by what means the facsimile signature or signatures thereon may have been affixed thereto, if such facsimile signature or signatures resemble the facsimile specimens duly certified to or filed with the Banks by the City Finance Director or other officer of the Authority or City. IT IS FURTHER RESOLVED,that the City Finance Director or their designee shall be authorized to make electronic funds transfers in lieu of issuing paper checks, subject to the controls required by Minnesota Statutes and by the City of Columbia Heights’ financial policies. IT IS FURTHER RESOLVED,that all transactions, if any, relating to deposits, withdrawals, re-discounts and borrowings by or on behalf of the Authority with said depositories, made directly by the Authority or by the City on the behalf of the Authority,prior to the adoption of this resolution be, and the same hereby are, in all things ratified, approved and confirmed. IT IS FURTHER RESOLVED,that any bank designated above as a depository, may be used as a depository for investment purposes, so long as the investments comply with authorized investments as set forth in Minnesota Statutes. IT IS FURTHER RESOLVED,that any brokerage firm with offices in the State of Minnesota may be used as a depository for investment purposes so long as the investments comply with the authorized investments as set forth in Minnesota Statutes. IT IS FURTHER RESOLVED,that the funds of the Authority can be held in accounts at such brokerage firms under the name and federal identification number of the City, together with the funds of the City, provided that separate fund accounting records are maintained for the respective Authority and City shares of such accounts in a manner consistent with generally accepted accounting and auditing standards. BE IT FURTHER RESOLVED,that any and all resolutions heretofore adopted by the Board of Commissioners of the Authority with regard to depositories or brokerage firms are superseded by this resolution. ORDER OF ECONOMIC DEVELOPMENT AUTHORITY Passed this 4th day of January, 2021 Offered by:Jacobs Seconded by:Novitsky Roll Call:All ayes President Attest: Recording Secretary EDA Minutes Page 6 January 4, 2021 OTHER BUSINESS ·Chirpich told members that the 3989 Central Ave project is on schedule. They are pouring footings and the first section of wall was also poured today. He said that some contaminated soils were discovered at the corner of 40th and Central that will require some correction.They also found some buried building and old parking lot debris during their excavation of the site. The developer is responsible for any added costs this may incur. ·Chirpich told members that the City closed on the purchase of 1002 40th Avenue last week. He is hoping that the purchase of 960 40th Avenue will be completed by the end of January. Doran will most likely put a construction trailer on the property during construction. Currently they are using the Dairy Queen for their construction office during the off season. ·Jacobs asked about the status of the Westgate Assisted Living Project. Chirpich said they have recently obtained the approval for their site plan and are hoping to submit the building plans for review so they can begin construction this spring on the 29 unit Assisted Living building. ·Reuter Walton is collaborating with SACA to see if they can partner in a joint project of apartments and a new SACA facility behind the public safety building. He said the City supports the apartment project with or without SACA’s final decision. ·Chirpich updated members on the Fairview Clinic site at 40th and Central. He said the medical offices have shut down, but they are still using the site for administrative office use. The discussion then moved to the maintenance of the ramp which the City is now overseeing. Staff has had to have the elevator serviced, repair the heating source, and deal with several graffiti attacks. They are working on getting cameras on the top floor that will have a direct feed to the Police Dept to help curtail this activity. ·Chirpich reviewed the Planning cases for the January 5th meeting. There was a brief discussion about the amount of parking that will be needed for the request for the 700-704 40th Avenue case. The next regular meeting is scheduled for Monday,February 1, 2021. Motion by Herringer, seconded by Jacobs, to adjourn the meeting at 6:28 pm.Roll call vote was taken. All ayes. Respectfully submitted, Shelley Hanson Secretary