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February 1, 2005

A regular meeting of the Hopkins Housing and Redevelopment Authority was held February 1, 2005, at Hopkins City Hall. Present were Chairman Eugene Maxwell and Commissioners Rick Brausen, Diane Johnson, and Jay Thompson. Also present were Executive Director Rick Getschow, Housing and Redevelopment Coordinator Kersten Elverum, and City Attorney Jerry Steiner. Commissioner Bruce Rowan was absent.

  1. Call To Order
    The meeting was called to order at 6:40 pm.
  2. Open Agenda/Public Comments
    None
  3. Consent Agenda
    1. Approve minutes of the January 4, 2005, regular meeting
    2. Approve disbursements through January 31, 2005
        Commissioner Brausen moved, Commissioner Johnson seconded, to approve the consent agenda. The motion was approved unanimously.
  4. New Business
    1. ITEM 2005-04 Preliminary development agreement, Block 64, Redevelopment Project
        Kersten Elverum gave an overview of the proposed preliminary development agreement between the HRA and GPS Financial, LLC. The agreement is for a redevelopment project on Block 64 and would include approximately 14,000 square feet of retail and 252 condominium units in a total of six buildings. Ms. Elverum explained that the purpose of the preliminary development agreement is to give the developer an opportunity to refine the proposed project and prove its feasibility. She highlighted the key undertakings of the developer and the obligations of the HRA, including the completion of an analysis of whether the development qualifies to be included in a redevelopment tax increment district and a financial/market analysis of the project.
        Ms. Elverum explained that the financial analysis would be completed by Ehlers & Associates and that Sid Inman and Rebecca Kurtz were in attendance to answer any questions the HRA may have.
        Chairman Maxwell asked the developers to come forward and give an overview of the project. Steve Flanagan introduced himself and his partners Charlotte Flanagan and Andrew Jones. Mr. Flanagan provided his background and that of his partners. He then turned it over to Charlotte Flanagan who gave an overview of their vision for the site. She indicated that they were planning on a development targeted towards active seniors and felt Hopkins was a great location for this type of development.
        Commissioner Brausen moved, Commissioner Johnson seconded, to authorize execution of the preliminary development agreement with GPS Financial Group, LLC, for a redevelopment project on Block 64, Hopkins, Minnesota. The motion was approved unanimously.
  5. Adjournment
    Commissioner Brausen moved, Commissioner Thompson seconded, to adjourn the meeting. The motion was approved unanimously. The meeting adjourned at 7:11 pm.