Special City Council Meeting

Mayor SPECIAL CITY COUNCIL MEETING Amáda Márquez Simula Councilmembers City Hall—Council Chambers, 590 40th Ave NE John Murzyn, Jr. Tuesday, June 22, 2021 Connie Buesgens 3:00 PM Nick Novitsky Kt Jacobs City Manager MINUTES Kelli Bourgeois Due to COVID-19 pandemic, this hybrid meeting was held both virtually and in-person. CALL TO ORDER/ROLL CALL Mayor Márquez Simula called the meeting to order at 3:01 pm. Present: Mayor Márquez Simula; Councilmember Buesgens; Councilmember Jacobs; Councilmember Murzyn, Jr.; Councilmember Novitsky Also Present: Jared Ackmann, Reuter Walton; Kelli Bourgeois, City Manager; Aaron Chirpich, Community Development Director; Sofia Lykke, Kennedy & Graven; Nicole Tingley, City Clerk PLEDGE OF ALLEGIANCE ITEMS FOR CONSIDERATION 1. Preliminary Issuance Consideration of Multifamily Housing Revenue Bonds Community Development Director Chirpich noted that a special meeting was needed in order to accommodate Reuter Walton’s submittal of application to the State of Minnesota for financing. Chirpich stated that Reuter Walton is requesting that the City issue tax- exempt bonds on their behalf to support the construction of the affordable housing development approved at the last City Council meeting. He explained that these bonds are not an obligation of the City or its taxpayers, but rather the Reuter Walton. The developer will be reimbursing the City for all costs associated with the issuance of the bonds as well as paying an issuance fee in the amount of 1% of the principal amount of bonds issued. This is estimated to be approximately $100,000. He added that the City has previously issued bonds of this type for other projects in the City. Chirpich clarified that the resolution is preliminary authorization and not final approval for issuance. Furthermore, the City will need to submit a housing program/plan to the Metropolitan Council for review and comment. Motion by Councilmember Jacobs, seconded by Councilmember Buesgens, to waive the reading of Resolution No. 2021-53, there being ample copies available to the public. A roll call vote was taken. All Ayes, Motion Carried 5-0. Motion by Councilmember Jacobs, seconded by Councilmember Novitsky to approve Resolution No. 2021-53, a resolution granting preliminary authorization to the issuance of revenue bonds or other obligations under Minnesota Statutes, Chapter 462C, as amended, City of Columbia Heights MINUTES June 22, 2021 Special City Council Meeting Page 2 to finance the costs of a multifamily housing development; approving the preparation and submission of a housing program with respect thereto; approving the submission of an application for an allocation of bonding authority; establishing compliance with certain reimbursement regulations under the Internal Revenue Code of 1986, and amended; and taking certain other actions. A roll call vote was taken. All Ayes, Motion Carried 5-0. ADJOURNMENT Motion by Councilmember Buesgens, seconded by Councilmember Murzyn, Jr., to adjourn. A roll call vote was taken. All Ayes, Motion Carried 5-0. Meeting adjourned at 3:09 pm. Respectfully Submitted, ______________________________________ Nicole Tingley, City Clerk/Council Secretary