EDA

Blaine City Hall City of Blaine 10801 Town Sq Dr NE Blaine MN 55449 Anoka County, Minnesota Minutes 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. Monday, October 21, 2019 7:20 PM Council Chambers 1 Call to Order The meeting was called to order at 7:25 p.m. by President Ryan followed by the Roll Call. 2 Roll Call Quorum Present. ALSO PRESENT: Community Development Director Erik Thorvig; Public Works Director Jon Haukaas; Police Chief/Safety Services Manager Brian Podany; Finance Director Joe Huss; Public Services Manager/Assistant City Manager Bob Therres; City Engineer Dan Schluender; Senior Engineering Technician Jason Sundeen; and City Clerk Catherine Sorensen. Present: 7 - President Ryan, Commissioner Swanson, Commissioner Jeppson, Commissioner Garvais, Commissioner Robertson, Commissioner Paul, and Commissioner Hovland 3 Minutes 3-1 OCTOBER 7, 2019 EDA MINUTES Attachments: Oct 7 2019 EDA Moved by Commissioner Hovland, seconded by Commissioner Robertson, that the Minutes of October 7, 2019, be approved. Motion adopted unanimously. Aye 7 - President Ryan Commissioner Swanson Commissioner Jeppson Commissioner Garvais Commissioner Robertson Commissioner Paul Commissioner Hovland 4 New Business City of Blaine Page 1 EDA Minutes October 21, 2019 4-1 RESOLUTION APPROVING THE ISSUANCE AND SALE OF A CONDUIT RECREATIONAL FACILITY REVENUE NOTE, SERIES 2019 AND AUTHORIZING THE EXECUTION OF DOCUMENTS RELATING THERETO (NSC SPORTS DOME PROJECT) Finance Director Huss stated the National Sports Center (NSC) has received zoning approval and a conditional use permit from the City to construct an approximately 117,000 square-foot sports dome on the NSC campus. The NSC is requesting the Blaine Economic Development Authority (EDA) to approve the issuance of up to $4.8 million in a Revenue Note to fund the facility. The note will be issued pursuant to Minnesota Statutes, Sections 469.152 to 469.1655, as amended. The EDA approval action is contingent upon the City conducting a public hearing later in the evening and authorizing the EDA to issue the debt. The Project will be owned and operated by the NSC and the notes are repayable solely from sums collected by the NSC pursuant to a revenue agreement. The EDA would issue what is commonly known as a Conduit Debt note. The note or other obligations will not constitute a charge, lien or encumbrance upon any property of the City except the Project, and such note or obligations will not be a charge against the City's or EDA general credit or taxing powers. Moved by Commissioner Swanson, seconded by Commissioner Jeppson, that Resolution No. 19-14, “Resolution Approving the Issuance and Sale of a Conduit Recreational Facility Revenue Note, Series 2019 and Authorizing the Execution of Documents relating thereto (NSC Sports Dome Project),” be approved. Motion adopted unanimously. Aye 7 - President Ryan Commissioner Swanson Commissioner Jeppson Commissioner Garvais Commissioner Robertson Commissioner Paul Commissioner Hovland 5 Other Business None. 6 Adjournment The meeting adjourned at 7:29 p.m. Moved by Commissioner Hovland, seconded by Commissioner Jeppson, to adjourn the meeting at 7:29 p.m. Motion adopted unanimously. Aye 7 - President Ryan Commissioner Swanson Commissioner Jeppson Commissioner Garvais Commissioner Robertson Commissioner Paul Commissioner Hovland City of Blaine Page 2