EDA

10801 Town Square Drive City of Blaine Blaine MN 55449 Anoka County, Minnesota Minutes - Final EDA The purpose of the Blaine Economic Development Authority is to increase the City’s commercial/industrial tax base, provide employment opportunities, undertake redevelopment to enhance and maintain neighborhood economic stability, and address special needs, such as senior housing. As authorized under Minnesota State statutes, the Blaine City Council also serves as the Blaine Economic Development Authority. Thursday, January 8, 2015 7:20 PM Council Chambers 1 Call to Order The meeting was called to order at 7:28 p.m. by President Ryan followed by the Roll Call. 2 Roll Call Quorum present. ALSO PRESENT: Executive Director Clark Arneson, City Attorney Patrick Sweeney; Planning Community Development Director Bryan Schafer; City Engineer Jean Keely; Public Safety Manager/Police Chief Chris Olson; Finance Director Joe Huss; Communications Technician Roark Haver; Senior Engineering Technician Al Thorp; City Clerk Catherine Sorensen ; and Recording Secretary Linda Dahlquist. Present: 5 - Comissioner Bourke, Comissioner Hovland, Comissioner Kolb, President Ryan, and Comissioner Swanson Excused: 1 - Comissioner King Absent: 2 - Comissioner Clark, and Comissioner Herbst 3 Minutes 3-1 MIN 15-02 December 18, 2014 EDA Minutes Adopted Aye: 5 - King, Hovland, Ryan, Bourke, and Swanson 4 New Business Present: 5 - Comissioner Bourke, Comissioner Hovland, Comissioner Kolb, President Ryan, and Comissioner Swanson City of Blaine Page 1 EDA Minutes - Final January 8, 2015 Excused: 1 - Comissioner King Absent: 2 - Comissioner Clark, and Comissioner Herbst 4-1 EDA RES 15-01 APPROVE AN AMENDMENT TO THE ECONOMIC DEVELOPMENT PROJECT PLAN AND, ESTABLISHING A HOUSING TAX INCREMENT FINANCING DISTRICT AND APPROVING TAX INCREMENT FINANCING PLAN THEREFOR (CREST VIEW SENIOR HOUSING PROJECT) Finance Director Huss stated this amendment to the Economic Housing Project for a Housing Tax Increment Financing District to be used to build the Crest View senior project includes 152 units of senior residences. He noted the TIF is a pay as you go note and tax increments collected are payable toward the note. He stated the district is a 25-year housing district and 90% of the increments will be used to pay for the note and 10% retained by the EDA for administrative costs. He noted 20% of the units will be for low and moderate-income residents. Shirley Barnes, Crest View Senior Communities, stated Crest View Senior Communities has been a faith based, non-profit organization since 1952. She stated this campus will have senior living, assisted living and memory care. She noted the project would not be feasible without Tax Increment Financing. Adopted Aye: 5 - King, Hovland, Ryan, Bourke, and Swanson 4-2 EDA RES 15-02 AWARD CONTRACT TO SUNDANCE EXTERIORS IN THE AMOUNT OF $68,950 FOR EXTERIOR REPAIRS AT BLAINE COURT (701 85th AVENUE NE) Planning Community Development Director Bryan Schafer stated the City received two proposals for the repairs on Blaine Courts. He stated staff recommends a contract be entered into with Sundance Exteriors with a 10% contingency. He noted that Sundance Exteriors is ready to start work right away in order to be ready for the sale of the property. Adopted City of Blaine Page 2 EDA Minutes - Final January 8, 2015 4-3 EDA RES 15-03 APPROVE PURCHASE AGREEMENT FOR SALE OF BLAINE COURTS AND CLOVERLEAF COURTS City Manager Arneson stated the City accepted an offer from LaNel and negotiated a purchase agreement with LaNel Financial for the purchase of Blaine Courts and Cloverleaf Courts. He noted that the current leases will transfer to LaNel at the 2015 rates established by the EDA and the deeds contain a restriction requiring the properties to be utilized as an age-restricted facility, occupied by residents age 55 and older for a period of ten years after the closing. President Ryan asked when the change will take place. City Manager Arneson replied approximately 90 to 120 days. Commissioner Bourke asked how the funds from the sales will be distributed. City Manager Arneson replied funds will go to the bonded debt, Tax Increment Financing revenue pool and EDA general fund. He noted starting in 2020 proceeds from the promissory note will go into the EDA reserves. Adopted Aye: 4 - King, Hovland, Ryan, and Bourke Nay: 1 - Swanson 5 Other Business None. 6 Adjournment Adjourned Aye: 5 - Comissioner Bourke, Comissioner Hovland, Comissioner Kolb, President Ryan, and Comissioner Swanson City of Blaine Page 3