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. This meeting will be a hybrid of Zoom and in-person. The Mayor has signed a declaration allowing members of the council, staff, and the public to attend the meeting remotely via Zoom as has been done during the COVID-19 pandemic. The council chambers will have limited seating, with audience chairs being set up at least six feet apart. There will be an overflow area where the meeting can be watched in the Cloverleaf Farms Room, also with chairs set up at least six feet apart. Please note that all visitors to city hall are required to wear a face mask while inside the building. Public comments may be submitted prior to the meeting by sending an email to PublicComment@BlaineMN.gov or by calling 763-717-2782 no later than Noon on Wednesday January 20. Public comment during the meeting will be taken both remotely via Zoom and in-person in the council chambers. Members of the public can join the Zoom webinar at, https://blainemn.zoom.us/j/96330452340 Monday, March 16, 2020 7:20 PM Cloverleaf Farms Room 1 Call to Order The meeting was called to order at 7:20PM by President Ryan followed by the Roll Call. 2 Roll Call Quorum Present. ALSO PRESENT: City Manager Michelle Wolfe; 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; City Planner Lori Johnson; Senior Engineering Technician Jason Sundeen; and City City of Blaine Page 1 EDA Minutes March 16, 2020 Clerk Catherine Sorensen. Present: 4 - Commissioner Jeppson, Commissioner Robertson, Commissioner Paul, and Commissioner Hovland 3 Minutes 3-1 APPROVAL OF MARCH 2, 2020 EDA MINUTES Attachments: Unapproved Minutes Moved by Commissioner Jeppson, seconded by Commissioner Robertson, that the Minutes of March 2, 2020, be approved. Motion adopted unanimously. Aye 6 - Ryan Commissioner Jeppson Garvais Commissioner Robertson Commissioner Paul Commissioner Hovland 4 New Business 4-1 RESOLUTION APPROVING THE ISSUANCE AND SALE OF A CONDUIT RECREATIONAL FACILITY REVENUE REFUNDING NOTE, SERIES 2020 AND AUTHORIZING THE EXECUTION OF DOCUMENTS RELATING THERETO (FOGERTY ARENA PROJECT) Finance Director Huss stated Fogerty Arena is requesting the Blaine Economic Development Authority (EDA) approve the issuance of up to $4 million in a Revenue Note to fund improvements to its facility including the replacement or renovation of the arena’s compressor system and to refund existing debt. The note will be issued pursuant to Minnesota Statutes, Sections 469.152 to 469.1655, as amended. The Blaine City Council conducted a public hearing on February 3, 2020 and authorized the EDA to issue the debt. The Project will be owned and operated by Fogerty and the notes are repayable solely from sums collected by Fogerty pursuant to a revenue agreement. Mr. Huss reported 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. President Ryan stated he supported the proposed sale of conduit bonds for the Fogerty Ice Arena. Moved by Commissioner Hovland, seconded by Commissioner Robertson, that Resolution No. 20-04, “Approving the Issuance and Sale of a Conduit Recreational Facility Revenue Refunding Note, Series 2020 and Authorizing the City of Blaine Page 2 EDA Minutes March 16, 2020 Execution of Documents Relating Thereto (Fogerty Arena Project),” be approved. Motion adopted unanimously. Aye 6 - Ryan Commissioner Jeppson Garvais Commissioner Robertson Commissioner Paul Commissioner Hovland 5 Other Business None. 6 Adjournment Moved by Commissioner Hovland, seconded by Commissioner Robertson, to adjourn the meeting at 7:28PM. Motion adopted unanimously. Aye 6 - Ryan Commissioner Jeppson Garvais Commissioner Robertson Commissioner Paul Commissioner Hovland City of Blaine Page 3