01-10-12 HRA Minutes HOUSING AND REDEVELOPMENT AUTHORITY
January 10, 2012
Pursuant to due call and notice thereof, a regular meeting of the Housing and
Redevelopment Authority of the Gity of Golden Valley, Hennepin County, Minnesota, was
held at 7800 Golden Valley Road in said City on January 10, 2012 at 6:30 pm, in the City
Council Chambers.
The following members were present: Chair Paula Pentel and Commissioners Joanie
Clausen, Mike Freiberg, Shep Harris and DeDe Scanlon. Also present were HRA Director
Thomas Burt, Finance Director Sue Virnig and Administrative Assistant Lisa Wittman.
Election of Officers
The HRA Bylaws provide for the annual election of the HRA Chairperson and Vice
Chairperson to serve a one year term. Chair Pentel opened the nominations.
MOVED by Scanlon to nominate Chair Pentel for the office of Chair.
MOVED by Freiberg to nominate Commissioner Scanlon for the office of Vice Ghair.
Chair Pentel and Commissioner Scanlan accepted the nominations and the
Commissioners voted unanimously to appoint Paula Pentel as Chair and DeDe Scanlon as
Vice Chair.
Approval of Aqenda
There were no changes made to the agenda.
Approval of Minutes - October 11, 2011 Reqular HRA Meetinq
MOVED by Harris, seconded by Clausen and motion carried unanimously to approve the
October 11, 2011 Regular HRA minutes as submitted.
Reimbursement of Citv Expenditures
MOVED by Scanlon, seconded by Freiberg and motion carried unanimously to authorize
reimbursing the City of Golden Valley $15,531.36 for expenditures incurred.
Receipt of December 2011 Financial Reports
MOVED by Scanlon, seconded by Clausen and motion carried unanimously to receive and
file the December 2011 Financial Reports.
Adoption of 2012 Generat Fund Budqet
Chair Pentel introduced the agenda item.
Housing and Redevelopment Authority
January 10, 2012
Page 2
Adoption of 2012 General Fund Budqet (continued)
Commissioner Clausen introduced the following resolution and moved its adoption:
RESOLUTION 12-1
RESOLUTION OF THE HOUSING AND REDEVELOPMENT AUTHORITY (HRA)
ADOPTING THE 2012 GENERAL FUND BUDGET
The motion for the adoption of the foregoing resolution was seconded by Commissioner
Freiberg and upon a vote being taken thereon, the following voted in favor thereof:
Clausen, Freiberg, Harris, Pentel and Scanlon and the follawing voted against the same:
none, whereupon said resolution was declared duly passed and adopted, sigr�ed by the
Chair and her signature attested by the Director.
Desiqnation of Depositories
Chair Pentel introduced the agenda item.
Commissioner Scanlon introduced the following resolution and moved its adoption:
RESOLUTION 12-2
RESOLUTION DESIGNATING DEPOSITORIES FOR HRA FUNDS
The motion for the adoption of the foregoing resolution was seconded by Commissioner
Harris and upon a vote being taken thereon, the following voted in favor thereof: Clausen,
Freiberg, Harris, Pentel and Scanlon and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted, signed by the Chair
and her signature attested by the Director.
Set 2012 Meetinq Schedule
Commissioner Harris questioned the possibility of combining the HRA meeting dates with
the regular City Council meeting dates. Chair Pentel stated that it can be difficult to have
HRA meetings and City Council meetings on the same date because public hearings are
set for a specific time on the City Council agendas.
MOVED by Scanlon, seconded by Claus�n and motion carried unanimously to set meeting
dates for regular meetings for HRA on January 10, April 10, July 1Q and October 9 at 6:30
pm.
Report on GVEC LLC Development Aqreement
HRA Director Tom Burt explained that in 2006 the HRA entered into an agreement with
GVEC, LLC for three-phase redevelopment project in the North Wirth Redevelopment
area. He stated that Phase 1 has been completed and the HRA, in 2009, negotiated an
Housing and Redevelopment Authority
January 10, 2012
Page 3
amendment to the GVEC LLC Development Agreement extending the deadline for
construction of the remainder of the project. He explained that the bank would like to work
with staff on a second amendment to the agreement that would provide them more time to
market the property without being in default.
Commissioner Harris asked about the length of the extension. Burt said an extension could
be anywhere from 18 months to 2 years.
Commissioner Clausen asked what would happen to the property if it is not economical for
the bank to finish the praject. Burt stated that the HRA could decide to dissolve the TIF
District. The taxes would go back on the tax role at that point, but the property awner would
keep the property.
The meeting was adjourned at 6:42 pm.
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Paula Pentel, Chair
ATTEST:
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L�i Wittman, Administrative Assistant