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Home My WebLink AboutJune 20, 2000 0 0 ~ ß.JJ lLM.ÜLh Î-5,a:) 0 CITY of ANDOVER I \ 1685 CROSSTOWN BOULEVARD N.W.· ANDOVER. MINNESOTA 55304· (763) 755-5100 FAX (763) 755-8923 ; Economic Development Authority Meeting - Tuesday, June 20, 2000 agenda ; Call to Order - 7:00 PM Bookmark I Name Approval of Minutes minutes Discussion Items ; 1. Authorize the Call of Certain Outstanding General Obligation Tax callbond Increment Bonds, Series 1993B. 2. Approve Modifications to Development District No.1 and TIF District 1-1. tif 0 Adjournment ! ! ! ! I , ! ; i i ! U 0 0 ~ ao W1.rtt:uì ) '\ CITY of ANDOVER u ANDOVER ECONOMIC DEVELOPMENT A UTHORITY MEETING JUNE 20, 2000 - MINUTES A Meeting of the Andover Economic Development Authority was called to order by President Jack McKelvey at 7:00 pm, June 20,2000 at the Andover City Hall, 1685 Crosstown Boulevard NW, Andover, Minnesota. Present: Councilmembers Don Jacobson, Julie Johnson, Mike Knight, Ken Orttel Absent: Resident.Members Bill Hupp and Robert Nowak Also Present: City Administrator, Richard Fursman City Engineer, Scott Erickson City Attorney, William Hawkins Community Development Director, Dave Carlberg Finance Director, Jim Dickinson Fire Chief, Dan Winkel Others· APPRO V AL OF MINUTES - MAY 9, 2000 0 Motion by Jacobson, seconded by Orttel to approve the minutes of May 9, 2000 as written. Motion carried on a 5-yes, 2-absent (Hupp, Novak) vote. ; AUTHORIZE THE CALL OF CERTAIN OUTSTANDING GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1993B Motion by Jacobson, seconded by Knight to approve the resolution as presented. (See Resolution #006-00 authorizing the call of certain outstanding general obligation tax increment bonds, Series 1993B). Motion carried ona 5-yes, 2-absent (Hupp, Nowak) vote. CONSIDER MODIFICATIONS TO DEVELOPMENT DISTRICT NO.1 AND TIF DISTRICT NO.1 Rusty Fifield, Ehlers and Associates, explained that the purpose of the resolution before the EDA is to modify Development District No. 1 and TIF District No 1-1 which was created in 1986. i The resolution will expand the budget by 4 million dollars, 2 million for land acquisition and 2 million for site improvements. Later inthe evening the City Council will conduct a public hearing on this same matter, approve the plan modifications and then it will come back to the EDA to approve the plans. 0 Councilmember Jacobson questioned how much money we have spent in the Tax Increment r) (J '- f\ EDA Meeting - Minutes ;" ) -.....J June 20,2000 Page 2 Financing district and how much is left. Jim Dickinson, Finance Director, stated that approximately 12 million dollars have been spent and this plan modification will approve an additional 4-6 million. Mr. Fifield explained that the budget presented is somewhere in the neighborhood of25 million dollars in total project expenditures. State Law states that if you don't have it in your budget you can't spend it. However, the plan doesn't compel you to do anything. DISCUSS PURCHASE/ANOKA A UTO WRECKING At this time, Mr. Fursman asked the EDA to consider a purchase agreement for the purchase of Anoka Auto Wrecking. Attorney Hawkins stated that he received a purchase agreement for the purchase of Anoka Auto Wrecking that the EDA should consider. We had offered 1.7 million dollars and they countered with 2.1 million; however, the figure settled on is $1,750,000 plus unpaid real estate taxes of about $57,000, which would make it about 1.8 million dollars. Mr. Hawkins noted that if we go through the eminent domain procedure the cost could come in higher fÌom the appraisal. With this offer, both parties are in agreement. We would pay $50,000 as a down payment with an additional $150,000 put into an escrow account within a few weeks \ and the closing would take place on October 31, 2000. The EDA would assume any costs for '-..j clean up of the soils if it is found that there is contamination. Motion by Orttel, seconded by Jacobson that the EDA enter into a purchase agreement for Anoka Auto Wrecking. Discussion: Mr. Hawkins noted that all personal property must be removed ftom the site 10 days prior to the date of closing. This would include all cars, office furniture, etc. Motion canied on a 5-yes, 2-absent (Hupp, Nowak) vote. Recess - 7:20 pm; Reconvene 7:45 pm CONSIDER MODIFICATIONS TO DEVELOPMENT DISTRICT NO.1 AND TIF DISTRICT 1-1 Motion by Jacobson, seconded by Knight to adopt the resolution Adopting Modifications to the Development Program for Development District No. 1 and Modifications to The Tax Increment Financing Plan for Tax Increment Financing District No.1-I. (See Resolution No. 008-00). Motion carried on a 5-yes, 2-absent (Hupp, Nowak) vote. Motion by Jacobson, seconded by Johnson to adjourn. Motion carried. -, , J U C) , EDA Meeting - Minutes ) June 20, 2000 j Page 3 Meeting adjourned at 7 :46 pm. Respectfully submitted, tLt.-: (/dL Vicki Volk, Acting Recording Secretary , "--- ) ~- )