HRA Minutes

June 5, 2012

A regular meeting of the Hopkins Housing and Redevelopment Authority was held June 5, 2012, at Hopkins City Hall. Present were Chairman Eugene Maxwell and Commissioners Molly Cummings, Jason Gadd, Kristi Halverson and Cheryl Youakim. Also present were Executive Director Mike Mornson and Assistant Executive Director Kersten Elverum.

  1. Call To Order
    The meeting was called to order at 7:15 p.m.
  2. Open Agenda – Public Comments
    No one from the public came forward to speak.
  3. Consent Agenda
    1. Approve minutes of the May 1, 2012, regular meeting
    2. Approve disbursements through May 31, 2012
    3. Schedule special HRA meeting June 19, 2012, at 7:20 p.m.
    Commissioner Halverson moved, Commissioner Gadd seconded, to approve the consent agenda. The motion was approved
    unanimously.
  4. New Business
    1. ITEM 2012-06 Public hearing: Purchase and Development
      Agreement between HRA and Klodt Development

      Ms. Elverum gave a brief overview of this key development
      that will create an inviting corridor from the future SW LRT station to the downtown, and explained that the terms of the agreement generally reflect the conditions previously discussed with the HRA. Because the City of Hopkins acquired the site in part with grant funds and redevelopment projects are typically undertaken through the powers of the Housing and Redevelopment Authority, the City must transfer ownership to the HRA before the property can be sold to the developer.

      Commissioner Halverson moved, Commissioner Gadd seconded, to approve the purchase and development agreement between the Hopkins Housing and Redevelopment Authority and Klodt Development, LLC, contingent upon the City of Hopkins transferring ownership to the Hopkins Housing and
      Redevelopment Authority. The motion was approved
      unanimously.
    2. ITEM 2012-07 Establish interfund loan for reimbursement
      of certain costs in connection with TIF District 1-4

      Stacie Kvilvang of Ehlers explained that this action is
      consistent with the TIF management plan and that,
      generally speaking, it will move more restricted funds to a
      less restrictive status.

      Commissioner Youakim moved, Commissioner Halverson
      seconded, to adopt Resolution 486, establishing an
      interfund loan for reimbursement of certain costs in
      connection with Tax Increment Financing District No. 1-4.
      The motion was approved unanimously.
    3. ITEM 2012-08 Modify terms of interfund loan in connection with TIF District 2-6
      Ms. Kvilvang explained that TIF District 2-6 will end with
      a negative loan balance and that modifying the terms of the
      loan will assure repayment of the Economic Development
      Fund.

      Commissioner Gadd moved, Commissioner Cummings seconded, to adopt Resolution 487, modifying the terms of an interfund loan in connection with Tax Increment Financing District No. 2-6. The motion was approved unanimously.
  5. Adjournment
    Commissioner Cummings moved, Commissioner Gadd seconded, to adjourn the meeting. The motion was approved unanimously. The
    meeting adjourned at 7:30 p.m.