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.
- Call To Order
The meeting was called to order at 7:15 p.m.
- Open Agenda – Public Comments
No one from the public came forward to speak.
- Consent Agenda
Commissioner Halverson moved, Commissioner Gadd seconded, to approve the consent agenda. The motion was approved
- Approve minutes of the May 1, 2012, regular meeting
- Approve disbursements through May 31, 2012
- Schedule special HRA meeting June 19, 2012, at 7:20 p.m.
- New Business
- 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
- 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.
- 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
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.
Commissioner Cummings moved, Commissioner Gadd seconded, to adjourn the meeting. The motion was approved unanimously. The
meeting adjourned at 7:30 p.m.