HomeMy WebLinkAbout01-07-91CITY OF LAKEVILLE
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
JANUARY 7, 1991
The meeting was called to order at 6:45 p.m. by Vice Chairman
Harvey. Roll call was taken. Present: Commissioners
Ruhmann, Zaun, Mulvihill, Harvey. Absent: Chair Sindt.
Also present: B. Erickson, Executive Director; R. Knutson,
City Attorney; M. Sobota, Community & Economic Development
Director; C. Friedges, City Clerk.
ITEK 2
The minutes of the December 3, 1990, Housing & Redevelopment
Authority meeting were approved as presented.
ITEK 3
Mr. Sobota presented the proposed modifications to the
Southfork I Housing Development Project and Tax Increment
Financing (TIF) Plan for TIF District No. 8. He explained
the amendments proposed for two projects, which will benefit
from the excess increment generated by the Southfork I TIF
Project:
1) Dick & Ann Miller are proposing to build a 4,200 square
foot professional building at the corner of 209th Street and
Holyoke Avenue in downtown Lakeville. Up to $90,000 would be
provided to the Millers to make the project feasible. Funds
would be used for land write -down and clearance and soil
corrections. He explained that although the project does not
call for the creation of a new TIF district, approximately
$14,000 in additional real estate taxes will be generated
annually through completion of the project.
2) Excess increment will also be used to pay public costs,
including the debt service on general obligation bonds
(approximately $229,000), for the Meadows North TIF project
that were issued by the City to have the site cleaned up and
prepared for development. Mr. Sobota explained that some
Meadows North residents expressed concern that this
transaction will encourage a multi - family housing project.
(The Meadows North TIF Project, which failed, consisted of
132 low and moderate income housing units). He presented a
letter from the City's bond counsel, John Kirby, which
explained that while the statutory language and the Amended
Plans refer to low and moderate income housing, current laws
define low to moderate income for a family of four at
approximately $49,500. Mr. Kirby's letter further explained
that the Amended Plans contemplate that at least some of the
housing units, whether single family or multifamily, be
affordable by people in this income range. Mr. Kirby's
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
JANUARY 7, 1991
PAGE 2
letter also states that it appears likely that any future
development will be compatible with the broad requirements of
the Amended Plans.
Mr. Sobota stated that the Planning Commission approved the
proposed Plan Amendments, recognizing they are consistent
with the City's comprehensive plans.
Commissioner Zaun pointed out that the modifications will not
change the original Southfork I TIF plan in any way.
Commissioner Sindt arrived at 6:52 p.m.
Mr. Erickson explained that this transaction would take the
pressure off the City to actively pursue development on the
Meadows North site. He further explained that the staff is
promoting a transitional use between any high density
development on the Meadows North property and the existing
single family homes. That buffer would consist of some
single family housing and green space.
91.01 Motion was made by Zaun, seconded by Mulvihill to approve
Resolution No. 91 -01 adopting Modification No. 2 to Southfork
I Housing Development Project Plan, Interest Rate Reduction
Program and Housing Tax Increment District No. 8 Financing
Plan, and Adopting the Modified Plans and Program.
Roll call was taken on the motion. Ayes, Zaun, Sindt,
Mulvihill, Harvey, Ruhmann.
ITEM 4
The HRA took up consideration of an agreement with the
Executive Director which eliminates the salary provision of
$60 per month, as the City Administrator's salary has been
adjusted to include the responsibilities of Executive
Director.
91.02 Motion was made by Sindt, seconded by Mulvihill to approve
the Agreement employing Robert A. Erickson as the H.R.A.
Executive Director.
Roll call was taken on the motion. Ayes, Sindt, Mulvihill,
Harvey, Ruhmann, Zaun.
UNFINISHED BUSINESS None.
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
JANUARY 7, 1991
PAGE 3
NEW BUSINESS None.
The meeting was adjourned at 6:58 p.m.
Respectfully submitted,
Lynette Mulvihill, Secretary
i
Pat Harvey, ice Chairman