07-17-18 HRA Agenda Packet A G E N D A
Regular Meeting of the
Housing and Redevelopment Authority
Golden Valley City Hall
7800 Golden Valley Road
Council Chamber
July 17, 2018
6:30 pm
Pages
1. Roll Call
2. Approval of Agenda
3. Approval of Minutes - Regular Meeting - April 17, 2018 2-3
4. Reimbursement of City Expenditures 4
5. Receipt of June 2018 Financial Reports 5-7
6. Appointment of Housing and Redevelopment Authority Attorney 8
7. Adjournment
UNOFFICIAL MINUTES
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
GOLDEN VALLEY, MINNESOTA
April 17, 2018
Housing and Redevelopment Authority Chair Clausen called the meeting to order at 6:30 pm.
1. Roll Call
The following members were present: Chair Joanie Clausen, Commissioners Larry Fonnest,
Shep Harris, Gillian Rosenquist and Steve Schmidgall. Also present were HRA Director
Cruikshank and City Clerk Luedke.
2. Approval of Agenda
MOTION made by Commissioner Harris, seconded by Commissioner Rosenquist to approve
the agenda of April 17, 2018, as submitted and the motion carried.
3. Approval of Housing and Redevelopment Authority Minutes - Regular Meeting -
January 16, 2018 and Special Meeting - February 20, 2018
MOTION made by Commissioner Schmidgall, seconded by Commissioner Fonnest to
approve the Regular Housing and Redevelopment Authority minutes of January 16, 2018, and
the Special Housing and Redevelopment Authority minutes of February 20, 2018, as
submitted and the motion carried.
4. Reimbursements of the City Expenditures
MOTION made by Commissioner Schmidgall, seconded by Commissioner Harris to approve
Check No. 4086 for $3,695.48 to the City of Golden Valley and the motion carried.
5. Receipt of March 2018 Financial Reports
MOTION made by Commissioner Schmidgall, seconded by Commissioner Harris to receive
and file the March 2018 HRA Financial Reports and the motion carried.
6. Amendment Extending Lease with D’Amico Catering
Planning Manager Zimmerman presented the staff report and answered questions from
Council.
MOTION made by Commissioner Schmidgall, seconded by Commissioner Rosenquist to
approve Amendment Extending Lease with D’Amico Catering, effective May 14, 2018, and the
motion carried.
7. Accept Report of Inspection Procedure and Results for Determining
Qualification of a Tax Increment Financing District as a Redevelopment District
Assistant HRA Director Nevinski presented the staff report and answered questions from
Council.
Housing and Redevelopment Authority Minutes April 17, 2018
Page 2
7. Accept Report of Inspection Procedure and Results - continued
MOTION made by Commissioner Harris, seconded by Commissioner Schmidgall to adopt
HRA Resolution 18-03, accepting the Report of Inspection Procedure and Results for
determining Qualification of a Tax Increment Financing District as a Redevelopment District
upon a vote being taken the following voted in favor of: Clausen, Fonnest, Harris, Rosenquist
and Schmidgall and the following voted against: none and the motion carried.
8. Approval of Partial Transfer of Interest in Global Pointe Senior Community
Project
Assistant HRA Director Nevinski presented the staff report and stated that there are two
amendments to the documents submitted with the HRA agenda. He said the first amendment
is on the second partial assignment document whereas paragraph six will be stricken. The
second is in the development agreement whereas the completion date will be changed from
December 31, 2018, to December 31, 2019. Mr. Nevinski answered questions from Council.
MOTION made by Commissioner Fonnest, seconded by Commissioner Schmidgall to
authorize the Chair and Executive Director to execute the following documents as amended
and the motion carried.
1. Second Partial Assignment and Assumption of Private Development Agreement and
Consent.
2. Third Amendment to Private Development Agreement.
9. Douglas Drive Corridor Redevelopment Project Area
Assistant HRA Director Nevinski presented the staff report and answered questions from
Council.
MOTION made by Commissioner Harris, seconded by Commissioner Rosenquist to adopt
HRA Resolution 18-03, approving the modifications to the Redevelopment Plan for the
Douglas Drive Corridor Redevelopment Project Area upon a vote being taken the following
voted in favor of: Clausen, Fonnest, Harris, Rosenquist and Schmidgall and the following
voted against: none and the motion carried.
10. Adjournment
MOTION made by Commissioner Harris, seconded by Commissioner Rosenquist and the
motion carried to adjourn the meeting at 6:55 pm.
_______________________________
Joanie Clausen, Chair
ATTEST:
_________________________
Kristine A. Luedke, City Clerk
Executive Summary For Action
Golden Valley Housing and Redevelopment Authority Meeting
July 17, 2018
Agenda Item
4. Reimbursement of City Expenditures
Prepared By
Sue Virnig, Finance Director
Summary
As of June 17, 2018, the following expenditures were paid by the City on various check registers
and need to be reimbursed by the HRA:
City Expenditures: Amount
1000 Legal Fees (Tennant) Kennedy & Graven-Deposit* $1,596.25
1000 Reimburse City Costs (Debt Service/Interfund Loan/Audit)* 189,510.63
1000 Bank Mutual – TIF payment 12,374.12
$203,481.00
HRA Expenditures:
9000 General Fund (Developer Deposit)* 13,596.25
9250 North Wirth #3 12,374.12
9300 Hwy 55 West 44,946.13
9400 Winnetka/Medicine Lk Rd 132,564.50
$203,481.00
*Asterisk items are reimbursed by deposits held for developers.
Recommended Action
Motion to approve Check #4087 for $191,106.88 to the City of Golden Valley and Check #4088 to
Bank Mutual for $12,374.12.
Executive Summary For Action
Golden Valley Housing and Redevelopment Authority Meeting
July 17, 2018
Agenda Item
5. Receipt of June 2018 Financial Reports
Prepared By
Sue Virnig, Finance Director
Summary
Attached are the June 2018 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 Capital Project Funds Report (1 page)
Recommended Action
Motion to receive and file the June 2018 HRA Financial Reports.
Percentage Of Year Completed 50%
Over % Of
2018 April-June YTD (Under)Budget
Revenue Budget Actual Actual Budget Received
Interest Earnings (2)0 0.00 0.00 0.00
Fund Balance 15,000 12,000.00 12,276.25 (2,723.75)
Totals $15,000 12,000.00 12,276.25 (2,723.75)81.84%
Over % Of
2018 April-June YTD (Under)Budget
Expenditures Budget Actual Actual Budget Expended
Legal Services (1)$3,000 0.00 276.25 (2,723.75)9.21%
Audit 12,000 12,000.00 12,000.00 0.00 100.00%
Totals $15,000 12,000.00 12,276.25 (2,723.75)81.84%
Notes:
(1) Includes to date billings from Best & Flanagan & Audit costs.
(2) Interest will be allocated at year end.
HRA of Golden Valley
General Fund
June 2018 Budget Report (unaudited)
HRA Of Golden Valley
2018 Financial Report 9300 9302 9400 9250
Hwy 55/Cornerstone Winnetka North
West (5) TIF (4)Med Lk Rd Wirth #3
Cash Balance @ 10/01/17 ($1,073.59)($529.44)($536.00)$0.00
Add:
Receipts:
Interest
Lease revenue
Increment Received 164,439.52 0.00 133,100.50 12,374.12
Less:
Expenditures:
City of Golden Valley (1)(44,946.13)
Interfund Loan Payment (1)(69,444.44)
Bond Payments -previously (1)(63,120.06)
Payment to Bank Mutual (12,374.12)
Payment to Golden Villa (5)
TIF Payment-Hennepin County 0.00 0.00 0.00 0.00
*will be paid with TIF in 2017 0.00
Cash Balance @ 12/31/17 $118,419.80 ($529.44) $0.00 $0.00
(2)(2)(2)(3)
(1) Breakdown on City Expenditures Memo
(2) Reinbursed when increment is received.
(3) Pay Go Note remaining $175,439.01.
(4) Lot split allowed property owner to pay later-will receive in Dec 2018.
(5) Waiting for TIF Eligible costs and new payment schedule.
Capital Project Funds
Executive Summary For Action
Golden Valley Housing and Redevelopment Authority Meeting
July 17, 2018
Agenda Item
6. Appointment of Housing and Redevelopment Authority Attorney
Prepared By
Tim Cruikshank, City Manager
Summary
On June 5, 2018, the City Council adopted a resolution appointing Ms. Maria Cisneros as the City
Attorney. The Housing and Redevelopment Authority (HRA) is a separate legal entity, therefore,
staff recommends that the HRA appoint Ms. Cisneros as the HRA Attorney.
Recommended Action
Motion to appoint Ms. Cisneros as the Housing and Redevelopment Authority Attorney.