HRA Minutes

February 16, 2016

A special meeting of the Hopkins Housing and Redevelopment Authority was held February 16, 2016, at Hopkins City Hall. Present were Chair Molly Cummings, Commissioners Katy Campbell, Jason Gadd, Kristi Halverson and Aaron Kuznia. Also present were Executive Director Mike Mornson, Assistant Executive Director Kersten Elverum, City Attorney Scott Riggs and HRA Attorney Bob Deike.

I. CALL TO ORDER

The meeting was called to order at 7:01 p.m.

II. NEW BUSINESS

ITEM HRA 2016-05 Approve development agreement for Doran 810 (The Moline)

Ms. Elverum gave the Council a brief overview of the Moline Project and the proposed development agreement and introduced Stacie Kvilvang of Ehler’s, who presented a review of the agreement that included a highlight of new terms since the HRA last reviewed the project. A copy of Ms. Kvilvang’s presentation is included as an attachment. This review of the development agreement included the following:

  • City will pay costs to build public parking ramp if SW LRT is not constructed
  • Project cost $58,900,000, with a $5.2 million TIF note and $5,890,000 developer equity
  • An easement to the City for construction of the Artery
  • $25,000 contribution for public art, $180,750 park dedication fees and $50,000 for art
  • Doran Construction to coordinate construction of the Artery

Replying to questions from the Council, Ms. Kvilvang stated that there is no cap on the extra amount the City could pay for the grade level garage estimated at $1.5 million, since it is based on the actual documented cost; the issue regarding insulation of the garage has been resolved, and it is acceptable for it to be heated, so there will be no additional cost for insulation; the construction manager agreement pertains to the entire Artery, not just the abutting block; and, the easement for the Artery will be a permanent, surface easement.

Ms. Elverum stated that approval of the agreement should stipulate that it can be modified regarding minor issues contingent on exhibits being approved by staff and legal counsel.

Commissioner Kuznia moved, Commissioner Campbell seconded, to adopt Resolution 511, approving the development agreement for Doran 810, The Moline, and allowing staff to make minor changes to the agreement. The motion was approved unanimously.

III. ADJOURNMENT

Commissioner Gadd moved, Commissioner Halverson seconded, to adjourn the meeting. The motion was approved unanimously. The meeting adjourned at 7:25 p.m.

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