Loading...
HomeMy WebLinkAboutDecember 15, 2015CCIIDTY OF • 1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.ANDOVERMN.GOV ECONOMIC DEVELOPMENT AUTHORITY MEETING December 15, 2015 6:00 p.m. Conference Rooms A & B 1. Call to Order— 6:00 p.m. 2. Approval of Minutes (11/17/15 Regular) 3. Presentation — Presbyterian Homes —Extension of Note for TIE District 1 -3 4. Approve First Amendment to the Purchase Agreement — Inventure Properties, LLC • 5. Discuss /Approve 2016 EDA Budget 6. Redevelopment Updates (verbal) 7. Other Business 8. Adjournment • C I T Y D F NDOVE ANDOVER ECONOMICDEVELOPMENT AUTHORITYMEETING- DECEMBER 15, 2015 - MINUTES The Meeting of the Andover Economic Development Authority was called to order by President Julie Tmde, December 15, 2015, 6:00 p.m., at the Andover City Hall, 1685 Crosstown Boulevard NW, Andover, Minnesota. Present: Commissioners Sheri Bukkila, James Goodrich, Mike Knight, Timothy Cleven and Joyce Twistol Absent: Commissioner Valerie Holthus Also present: Executive Director, Jim Dickinson Community Development Director, Dave Carlberg • APPROVAL OF MINUTES November 17, 2015, Regular Meeting: Correct as presented Motion by Bukkila, Seconded by Twistol, to approve the minutes as presented. Motion carried 5 ayes, 0 nays and 1 present ( Cleven). PRESENTATION — PRESBYTERIAN HOMES — EXTENSION OF NOTE FOR TIF DISTRICT 1 -3 Mr. Carlberg explained the presentation by Presbyterian Homes for the extension of the note for TIF District 1 -3 has been tabled to the January 19, 2016 EDA meeting. He reviewed Presbyterian Homes is requesting the TIF note extension for 10 years. By extending the note Presbyterian Homes would be required to make qualifying improvements to the senior housing development and provide 28 affordable units. Commissioner Twistol asked if the extension were approved does it have to go the entire 10 years. Mr. Dickinson answered it does not. Mr. Dickinson stated the EDA will want to look at the merits of their presentation and need of affordable senior housing, before making their decision. President Trude stated she would like to see the note extended to keep the affordable housing available. Commissioner Bukkila indicated the 20% affordable housing is corporate. Mr. Dickinson • Andover Economic Development Authority Meeting Minutes — December 15, 2015 Page 2 explained if Presbyterian Homes has a note with the city they are required to provide 20% affordable housing and must provide documentation for the Farmstead project. Mr. Dickinson indicated Presbyterian Homes could always provide more than the minimum at the Farmstead. Commissioner Knight asked if Andover is meeting the needs for senior housing. Mr. Carlberg stated the city is meeting the market needs right now. Mr. Carlberg indicated a developer would not proceed with a project unless it is needed and housing studies supported that. The EDA discussed the senior housing needs in Andover. Commissioner Goodrich asked what the benefit is to the city by extending the note. Mr. Carlberg answered it helps with the Met Council goals for high density and affordable housing. Mr. Carlberg indicated after the presentation the EDA can decide and give staff direction on the extension of the Note for TIF District 1 -3. Motion by Kight, Seconded by Twistol to schedule an EDA Meeting for January 19, 2016 at 6:00 p.m. Motion carried unanimously. APPROVE FIRST AMENDMENT TO THE PURCHASE AGREEMENT — INVENTURE PROPERTIES, LLC Mr. Carlberg explained the Purchase Agreement between the EDA and Inventure Properties, LLC for the sale of the property located at 13725 Crosstown Drive established a closing date of December 1, 2015. Since the City Council approved the sale of the property adjacent, located at 2604 138a' Avenue to Inventure Properties, LLC which established a closing date of March 1, 2016, hmventure Properties, LLC would like to close on both properties March 1, 2016. The First Amendment to the Purchase Agreement would be to allow hnventure Properties, LLC to close on both parcels March 1, 2016. Motion by Bukkila, Seconded by Knight, to approve the First Amendment to the Purchase Agreement with Inventure Properties, LLC. The Motion carried unanimously. DISCUSSIAPPROVE 2016 EDA BUDGET Mr. Dickinson reviewed the 2016 EDA budget with the commissioners Commissioner Twistol asked on the Budget Worksheet what Inter -City Labor Allocation was. Mr. Dickinson replied that is staff's time working on EDA items. Mr. Dickinson indicated a majority of the EDA expenses is for Andover Station maintenance. • President Tmde stated she thought someday the expenses could be turned back over to the businesses in Andover Station. Mr. Dickinson replied the City does have an obligation to some of the expenses, such as the Bunker Lake Boulevard medians and Martin Street. • Andover Economic Development Authority Meeting Minutes — December 15, 2015 Page 3 Modon by Goodrich, Seconded by Knight approving the 2016 EDA budget. Motion carried unanimously. REDEVELOPMENT UPDATE/BUNKER LAKE BOULEVARDICROSSTOWNDRIVE Mr. Carlberg revealed the first drawings of the office building to be constructed at 13725 Crosstown Drive. The EDA was very pleased with the drawings. OTHER BUSINESS Mr. Carlberg informed the EDA Friday, December 18, 2015 at 2:00 p.m. there will be a ribbon cutting at Essentials of Life Chiropractic and a ribbon cutting at 2:10 p.m. for Premier Bank, both located at 1777 Bunker Lake Boulevard NW. ADJOURNMENT Modon by Bukkila, Seconded by Goodrich, to adjourn. Motion carried unanimously. The • meeting adjourned at 6:46 p.m. Respectfully submitted, Michelle Harmer, Recording Secretary Ll