07-09-13 HRA Agenda Packet AGENDA
Regular Meeting
of the
Housing and Redevelopment Authority
Goiden Valley City Hall
7800 Golden Valley Road
Council Chamber
July 9, 2013
6:30 pm
Pages
1. Roll Call
2. Approval of Agenda
3. Approval of Minutes - Regular Meeting -April 9, 2013, and 2-5
Special Meetings - May 21 and June 4, 2013
4. Approval of Bills:
Reimbursement of City Expenditures 6
City of Golden Valley $174,521.25
Bank Mutual 16,057.78
TOTAL $190,579.03
Bill Summary:
General Fund $907.50
North Wirth
Capital Project Fund 16,377.78
Golden Hills
Tax Increment Fund 152,000.00
Capital Project Fund 21,293.75
TOTAL $190,579.03
5. Receipt of June 2013 Financial Reports 7-10
This docurnent i�available in alternate forrnats upon a 72-h�ur request. P�ease ca(I
763-593-80�6 (7TY: 7b3-593-3968)to make a request. Examples of alternate fi�rmats '
may include large print,electronic,Brailfe,audiocassette,etc.
HOUSING AND REDEVELOPMENT AUTHORITY
April 9, 2013
Pursuant to due call and notice thereof, a regular meeting of the Housing and
Redevelopment Authority of the City of Golden Valley, Hennepin County, Minnesota, was
held at 7800 Golden Valley Road in said City on April 9, 2013 at 6:30 pm, in the City
Gouncil Chambers.
The following members were present: Chair Paula Pentel and Commissioners Joanie
Clausen, Shep Harris, DeDe Scanlon and Steve Schmidgall. Also present were HRA
Director Thomas Burt, Finance Director Sue Virnig, City Planner Joe Hogeboom and
Administrative Assistant Lisa Wittman.
Approval of Aqenda
Thomas Burt stated that the Global One Golden Valley, LLC Private Development
Agreement - Site Plan Approval is being removed from this agenda.
MOVED by Clausen, seconded by Scanlon and motion carried unanimously to approve the
agenda as amended.
Approval of Minutes — Januarv 8, 2013 Reqular Meetinq
MOVED by Schmidgall, seconded by Scanlon and motion carried unanimously to approve
the January 8, 2013 Regular HRA minutes as submitted.
Approval of Bills
MOVED by Scanlon, seconded by Schmidgall and mation carried unanimously to approve
the bills as submitted.
Receipt of March 2013 Financial Reports
Harris referred to the budget report and asked Virnig to explain the City Overhead
Expenditures. Virnig stated that amount is primarily payroll for staff time spent on HRA
issues.
MOVED by Clausen, seconded by Schmidgall and motion carried unanimously to receive
and file the March 2013 Financial Reports.
Golden Hills Redevelopment Area: Global One Golden Vallev, LLC Private
Development Aqreement -Site Plan Approval
Thomas Burt stated that this item is being removed from the agenda because staff is
working through some additional issues and is not ready to present the Plan at this point.
Housing and Redevelopment Authority
April 9, 2013
Page 2
Adiournment
MOVED by Scanlon, seconded by Clausen and motion carried unanimously to adjourn the
meeting at 6:35 pm.
Paula Pentel, Chair
ATTEST:
Lisa Wittman, Administrative Assistant
HQUSING AND REDEVELOPMENT AUTHORITY
May 21, 2013
Pursuant to due call and notice thereof, a special meeting of the Housing and
Redevelopment Authority of the City of Golden Valley, Hennepin County, Minnesota, was
held at 7800 Golden Valley Road in said City on May 21, 2013 at 7:48 pm, in the City
Council Chambers.
The following members were present: Chair Paula Pentel and Commissioners Joanie
Clausen, Shep Harris, DeDe Scanlon and Steve Schmidgall. Also present were HRA
Director Thomas Burt, HRA Attorney Allen Barnard, and Administrative Assistant Judy
Nally.
North Wirth Redevelopment Area: Authorization to Siqn Amended Consent
Aqreement with Stan Koch and Sons Truckinq, Inc.
Chair Pentel introduced the agenda item.
MOVED by Schmidgall and seconded by Scanlon and motion carried unanimously ta
authorize the Chair and the Director to sign an amendment to the Consent Agreement
changing the sale date deadline to June 12, 2013.
North Wirth Redevelopment Area: Approval of Amendinq the North Wirth Tax
Increment District No. 3 to Discontinue the collection of Increment Generated From
Certain Parcels
Sue Virnig, Finance Director, introduced the agenda item and answered questions from the
H RA.
Commissioner Harris introduced the following resolution and moved its adoption:
RESOLUTION 13-3
RESOLUTION OF THE HOUSING AND REDEVELOPMENT AUTHORITY (HRA)
ADOPTING THE 2013 GENERAL FUND BUDGET
The motion for the adoption of the foregoing resolution was seconded by Commissioner
Schmidgall and upon a vote being taken thereon, the following voted in favor thereof:
Clausen, Harris, Pentel, Scanlon and Schmidgall 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.
Adiournment
MOVED by Harris, seconded by Clausen and motion carried unanimously to adjourn the
meeting at 7:51 pm.
Paula Pentel, Chair
ATTEST:
Judy Nally, Administrative Assistant
HOUSING AND REDEVELOPMENT AUTHORITY
June 4, 2013
Pursuant to due call and notice thereof, a special meeting of the Housing and
Redevelopment Authority of the City of Golden Valley, Hennepin County, Minnesota, was
held at 7800 Golden Valley Road in said City on June 4, 2013 at 6 pm, in the City Council
Chambers.
The following members were present: Chair Paula Pentel and Commissioners Joanie
Clausen, Shep Harris, DeDe Scanlon and Steve Schmidgall. Also present were HRA
Director Thomas Burt, Director of Public Works Jeannine Clancy, HRA Attorney Allen
Barnard, and Administrative Assistant Judy Nally.
Golden Hills Redevelopment Area: Global One Golden Vallev, LLC Private
Development Aqreement - Site Plan Approval
Thomas Burt introduced the agenda item and answered questions from the HRA. Mark
Grimes, Director of Planning and Development answered questions from the HRA.
Mark Globus, Global One Commercial; and Adam Sivakoff, Forum Real Estate Group,
answered questions from the HRA.
MOVED by Harris, seconded by Schmidgall and motion carried unanimously to approve
the Three•Nine•Four, Rendered Site Plan dated May 22, 2013, as the final site plan for the
Global One Golden Valley, LLC Private Development Agreement.
Adiournment
The Chair adjourned the meeting at 6:15 pm.
Paula Pentel, Chair
ATTEST:
Judy Nally, Administrative Assistant
Cl��1 Q�
�-Tousing and Redevelopment.Author�t�
763-593-8002/763 593-8109(fax)
Executive Summary For Action
Golden Valley Housing and Redevelopment Authority Meeting
July 9, 2013
Agenda Item
4. Reimbursement of City Expenditures
Prepared By
Sue Virnig, Finance Director
Summary
As of June 30, 2013 the following expenditures were paid by the City on various check registers
and need to be reimbursed by the HRA:
City Expenditures: Amount °
1000 Wilson Development (Relocation-Mayfair Apts-March)* $134.95
1000 Wilson Development (Relocation-Mayfair Apts-April)* 80.40
1000 Wilson Development (Relocation-Mayfair Apts-May)* 117.25
1000 Best & Flanagan (March legal) 3,263.80
1000 Best & Flanagan (April legal) 5,167.50
1000 Best & Flanagan (May legal)* 4,154.90
1000 Encompass (March, April, May-Global One)* 9,602.45
City of Golden Valley 152,000.00
Bank Mutual 16,057.78
$190,579.03
HRA Expenditures:
9000 General Fund $907.50
9160 Golden Hills Tax Increment Fund 152,000.00
9250 North Wirth #3 16,377.78
9280 Golden Hills Capital Projects 21,293.75
$190,579.03
*Asterisk items are reimbursed by deposits held for developers.
Recommended Action
Motion to approve reimbursing the City of Golden Valley$174,521.25 (check#4054) and Bank
Mutual $16,057.78 (check#4055).
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Housing and Redevelopment Authority
763-593-8002!763-593-81Q9(fax)
Executive Summary For Action
Golden Valley Housing and Redevelopment Authority Meeting
July 9, 2013
Agenda Item
5. Receipt of June 2013 Financial Reports
Prepared By
Sue Virnig, Finance Director
Summary
Attached is the June 2013 Financial Reports for Housing and Redevelopment Authority (HRA)
review. Staff will address questions from the HRA before or at the meeting.
Attachments
• HRA General Fund Budget Report (1 page)
• HRA Tax Increment District Projections for Golden Hills Tax Increment Funds (1 page)
• HRA 2013 Capital Project Funds Report (1 page)
Recommended Action
Motion to receive and file the June 2012 HRA Financial Reports.
HRA of Golden Valley
General Fund
June 2013 Budget Report
Percentage Of Year Completed 50%
Over % Of
2013 Apr-June YTD (Under) Budget
Revenue Budget Actual Actual Budget Received
Transfer from TIF Funds:
Golden Hills 159,000 159,000.00 159,000.00 0.00 100.00%
Interest Earnings (3) 0 0.00 0.00 0.00
Fund Balance 0 0.00 0.00 0.00 .
Totals $159,000 159,000.00 159,000.00 0.00 100.00%
Over % Of
2013 Apr-June YTD (Under) Budget
Expenditures Budget Actual Actual Budget Expended
Legal Services (1) $6,000 907.50 1,813.75 (4,186.25) 30.23%
Audit 12,000 12,000.00 12,000.00 0.00 100.00%
City Overhead (2) 140,000 140,000.00 140,000.00 0.00 100.00%
Miscellaneous 1,000 0.00 0.00 (1,000.00) 0.00%
Totals $159,000 152,907.50 153,813.75 (5,186.25) 96.74%
Notes:
(1) Includes May to date billings from Best & Flanagan.
(2) Transfers will be made in July 2013.
(3) Interest will be allocated at year end.
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HRA Of Golden Valley Capital Project Funds
2013 Financial Report 9280 9250
Golden North
Hills Wirth #3
Cash Balance @ 04/01/13 $286,679.31 $705.62
Add:
Receipts:
Interest
Lease revenue
Increment on Deposit 15,352.16
Less:
Expenditures:
City of Golden Valley (1)
TIF Payment-Bank Mutual (16,057.78)
Cash Balance @ 06/30/13 $286,679.31 $0.00
(1) Breakdown on City Expenditures Memo